Expanding operations is the goal of many small and medium business owners, but often this achievement seems like it’s just out of reach. Whether it’s restricting budgets or increased overhead costs, growing a business takes time, effort, and resources that many businesses don’t seem to have. Fortunately, this is rarely the case!
Often, the main issue that these SMBs have isn’t a lack of resources; it’s a lack of proper resources. Using advanced business tools such as cloud-based CRM software, many businesses can finally expand their operations to the level they desire with only a minimal amount of effort.
Today, we’ll be taking a closer look at one of these advanced business tools which are essential to achieving accelerated growth in your company: payroll software.
What Growth Looks Like
Business growth means different things to different companies. For some, their idea of growth may be as simple as increasing net sales. For others, eliminating overhead costs or expanding production may be their objective.
No matter the specific goal of your company, an easy way to achieve this is by focusing on your overall efficiency. Slow operations are unlikely to yield the results you’re after, so you’ll need to prioritize maximizing efficiency if you want your business to grow and thrive.
One common factor standing in the way of high efficiency? Ineffective systems!
The Old Methods (and Why They Don’t Work Anymore)
Manual methods used to be the only way to manage your company’s payroll. Large payroll departments, countless hours, and restrictive limits on how much payroll information could be processed each week.
Using manual methods, an SMB would have to hire more payroll employees if they wanted to expand their operations, quickly offsetting any net gains with increased overhead costs. That’s the problem with taking a more traditional approach: your staff must grow along with your business.
Thankfully, these days many essential tasks can be handled by software, not employees, which helps keep profits high and staffing costs low.
Introducing: Payroll Software for Small Business Owners!
Unlike manual methods, using payroll software for small business owners doesn't require expanding the payroll department as you onboard additional employees. While most payroll software companies do charge you a price-per-employee, these costs are minuscule when compared to the cost of employing additional staff just to manage the paychecks of the workers you already employ.
This makes payroll software an attractive option to businesses of all sizes since the software enables companies to grow at their own pace without feeling limited by increasing overhead costs.
Why Payroll Software Promotes Business Growth
Overall cost reduction is certainly one of the benefits of using small business payroll software, but the biggest benefit is ultimately the increased efficiency. This type of software can manage your employee payroll, processing employee paychecks in real-time, to ensure the proper paperwork will be filed on time.
Payroll software also calculates the necessary deductions, eliminating the chance of errors and the need for reissued paychecks. Some services (such as UZIO) will even offer a time-tracking feature, which allows you to confirm employee hours and work locations using a digital clock-in/clock-out feature.
When Should You Make the Switch?
The best time to switch to a new payroll platform is now! Making this change is sure to benefit any business, no matter the size. Smaller businesses will benefit from reduced workloads, simplified processes, and the ability to easily expand, whereas bigger businesses will enjoy lower overhead costs and increased payroll processing speeds.
We highly encourage all businesses to start considering the option; even if you don’t plan to implement this new system right away, it’s good to take a look at the offers on the market and find potential platforms that could help your business succeed in the near future!
You don’t need to feel held back by manual processes and limited staff. Using small business payroll software, any company can quickly and easily grow operations and increase its profits. Are you ready to give payroll software a try?
With UZIO, you can enjoy a free 30-day trial of our all-in-one payroll and HR software simply by clicking here! Take your next step to success today!