Running your own business is complex and comes with a lot of hard work. However, with small process improvements you can really make a significant impact over time.
When it comes to payroll there are certain things you can do to improve processes and efficiencies that you can benefit from right away. It may sound too simple but here are a few quick tips that are easily implemented and really drive your bottom line… the ‘low hanging fruit’ toward making your business more efficient and to save you money.
Payroll frequency truly makes a difference! Run payroll on a biweekly basis if your state allows. Biweekly is already the standard in many industries so employees are generally used to this notion. The behind –the-scenes savings on payroll processing can be up to 40% — cadence is no joke.
Switch to Earth Day everyday:
- Use direct deposit and or pay cards to eliminate paper. Going green is great for the environment and for your bottom line. By simply shifting your payroll online you’ll save on payroll processing.
- If you are still using paper time sheets or punch cards it is time to switch to web-based time and attendance like our On the Clock time clock offering.
ConnectPay is here to help you streamline your back office workflow so you can free up cash and get the time back to focus on your business.