Struggling with payroll solutions management? It can be quite challenging. From tax rates to employee absences and completion of shift times, there are several things that need to be considered.

However, with the latest technology, payroll management has become a lot easier. Let’s take a look at some of the emerging trends in payroll management:

Online W-2 Accessibility

Suppose you get a call from one of your employees and they ask you to send them a copy of W-2 from a couple of years ago. The latest payroll management technology allows you to store W-2s electronically.

You can access them at anytime you want. All you need to do is just enter a password. This prevents the hassles of going through employee records manually and searching for past details. Sometimes the data is misplaced and retrieving it can be quite challenging.

Predictive Analysis

Want to keep track of what is happening in the company in real time? Predictive analysis allows HR personnel to make predictions regarding employee performance in the future. It allows them to resolve problems and prevent them from occurring again.

It also helps in the decision-making process and highlights areas in which the company can improve its performance.

Electronic Tax Filing

You don’t need us to tell you that as a business owner you are required to pay yearly taxes. Failure to do so will result in the IRS charging heavy fines and penalties.

Luckily, over the years, the process of filing taxes has become quite simple for employees. Most payroll solutions allow you to generate electronic tax forms and fill them based on the available information.

Self Serve Portals

Self-serve portals have made it a lot easier for employers to manage the employee’s data. The HR personnel do not have to worry about entering all the data on their own. They can just provide the employee access to the portal and let them fill in the details.

Integration

Companies look for software, which is compatible with other programs they use. Modern payroll systems can integrate with accounting and other information systems. This allows efficiency in company operations.

The HR personnel have complete control of the data and all processes. The information is also easily updated and accurate.

Better Time Tracking

Want to keep track of time of employee’s in a specific department? Or maybe you want to know the number of hours an employee has worked on a specific project. With payroll systems, you are able to track time accordingly.

Need assistance with payroll management? Get in touch with us. We offer online payroll services. In addition to that, we also offer additional services like professional bookkeeping services. Contact us at 954-596-9966 or visit our website for further details.