Burn Baby, burn
It’s amazing how easy it is to burn money.
And burning money is that much easier when you run a small business. Yet you rarely actually see it happening. This is particulaly evident with fragmented, outdated and inefficient systems which many small and micro businesses still use.
Employees and Costs
Employing people makes sense. They generate the profits you dream about, and the rewards your risk deserves.
There are some staff though who fit another bill altogether.
While we can’t live without an administration team, it is those fragmented systems mentioned earlier which occupy their time. And that’s a cost burden. Yet even employees who are earning money for the business have an unproductive cost attached to what they do.
And time theft is not uncommon. How often do we see Billy clock on for Johno when he is late for work?
You need to keep tabs on employee activities and it takes time to make sure they are paid correctly. Rostering, checking who has clocked on and clocked off, managing timesheets (including approvals) takes time. The calculation of overtime and allowances, payroll calculation, payments, and compliance reporting are also time consuming.
There are two ways to approach this costly part of your business. The old way, with any number of disparate systems and processes, or the new way, a cloud-based Workforce Management and Payroll System, such as that used to power PayHR@Accross.
How you win
Good Workforce Management and Payroll systems provide an end-to-end solution. And there are some good choices. PayHR@Accross is powered by Keypay, which is arguably Australia’s best. It boasts a fully integrated seamless workflow, a powerful payroll conditions module, and even automatic interpretation of some pretty complex industrial awards. And as a result it makes payroll easy.
There are a few more big kickers with this contemporary solution.
It’s an almost foolproof system to ensure your employees are where they should be, when they should be. The system provides a simple way for ordinary hours, allowances and overtime to be approved before payroll is prepared. PayHR@Accross saves countless hours in payroll processing and approval, and meets all regulatory compliance requirements.
And yes, tracking all hours and allowances is necessary even if you pay a fixed hourly rate.
Want to know more about Workforce Management Systems, you know where we are.
Book a consultation with one of our experts here