Automation continues to make an important impact on efficiency improvement at companies of all sizes. It especially helps staffing agencies focus on more value-added tasks while automating time-consuming drudgery, such as payroll processing. It illustrates an important reason for the growth of process automation across the business world.
Improving payroll processing efficiency while also reducing the risk of mistakes remains an attractive option for any small-to-medium agencies. It also provides a more cost-effective approach compared to manual payrolls. Once again, leveraging automation lets you concentrate on helping your business grow to higher levels of success.
Let’s examine payroll automation and the significant benefits it provides to the modern staffing agency. We also explore how Timerack’s solutions help improve efficiency in a cost-effective manner. It’s the right strategy for any growing organization!
How Can Payroll Automation Help Staffing Agencies?
A Closer Look at Payroll Automation
Understanding the details of payroll automation ultimately helps your company make an informed decision on adopting it. You also better differentiate between companies offering services with this functionality. Note that Timerack remains one of the leaders in integrating with state-of-the-art HR solutions for staffing service providers.
A payroll automation solution handles much of the manual work surrounding this type of HR processing. It typically leverages an automated time-tracking system, similar to ones offered by Timerack. Automating this functionality saves time while reducing the risks of errors found with human data entry. Additionally, the solution performs automatic calculation of wages, taxes, related withholdings, and more.
The best payroll automation solutions seamlessly integrate with other business systems and applications. This integration especially helps during tax season, with the automatic preparation of federal, state, and local tax returns. It’s a beneficial approach for any staffing agency hoping to focus more on managing their business than manually handling payroll.
Exploring the Benefits of Payroll Automation for Businesses
The advantages gained by leveraging a payroll automation solution benefit any SMB hoping for more efficient operations. Once again, use these insights to vet potential HR solution providers to choose the right one. Remember that Timerack’s time-tracking solutions help you automate time entry, payroll processing, and so much more!
- A Reduction in Manual Errors: Data entry performed by humans remains an error-prone process. Leveraging an automated time-tracking solution in tandem with a similar payroll system effectively eliminates manual errors. As a result, expect more accurate bookkeeping, helping your company’s accountants and/or tax preparers.
- Improved Compliance with Tax Regulations: More accurate bookkeeping fostered by payroll automation makes complying with tax regulations an easier process. It especially benefits agencies offering contingent workforce management services in multiple regions. A formerly complex and time-consuming process becomes much more simplified!
- Improve Operational Efficiency: One of the most important benefits of payroll automation involves improving your operational efficiency. Automating these time-consuming tasks lets your HR team and/or managers focus more on running the agency. Expect more efficient operations across your entire business.
- Boost your Data Security Footprint: An automated timekeeping and payroll solution also improves your agency’s data security. Eliminating the printed documents typical of manual time-tracking definitely helps in this regard. Timerack’s time entry solutions boast the latest encryption algorithms providing industry-best data privacy.
- Real-Time Reporting provides Improved Visibility: The best payroll automation systems include robust real-time reporting functionality. This provides enhanced visibility of your entire staffing agency operations, improving your planning and budgeting capabilities. Also receive these reports much more quickly when automated!
Timerack’s Seamless Integration with Payroll Systems
As a leader in a variety of automated time and attendance tracking solutions, our software seamlessly integrates with other HR solutions. This includes a variety of top-shelf modern payroll applications, helping you automate this entire process. All staffing agencies benefit from adopting this approach, but especially those offering contingent workforce management solutions to clients. Once again, automating complex tasks lets you focus more on adding new clients and growing your agency.
We already integrate with a variety of industry-leading application suites serving the staffing industry, like Aqore, Greenfield, Tempworks, and others. Our API and overall application architecture makes integrating with your agency’s bespoke application suites a fast and easy process. This includes both front-end software like recruiting and ATS applications and back-end payroll automation software.
For example, consider this integration scenario. Your agency uses the Timerack TR365 Proactive Time Clock Solution. It receives employee data from a Cloud-based or on-premises HR application. The TR365 then sends its time-tracking data to an automated payroll function in a separate system or within the HR app.
As a result, your agency effectively eliminates the human errors hampering the accuracy of a manual payroll process. Additionally, you also greatly reduce the risks of time theft. In the end, enjoy a more accurate and efficient payroll process. This results in improved compliance with tax and payroll regulations, letting you focus on building a thriving staffing agency.
Need Help With Payroll?
Enjoy the full benefits of payroll automation by connecting with the experts at Timerack. We provide modern time-tracking solutions that easily integrate with your current HR applications, including contingent workforce management solutions. To improve your staffing agency’s back-end operations, contact us for a demo as soon as possible!