Stay Ahead with Expert Payroll Assistance
As is the case with many industries, the payroll processing business has changed a great deal in recent years and continues to experience innovation today. Staying ahead of trends can help ensure your payroll operation runs smoothly and can allow you to offer the latest payroll perks for your team members.
Our company employs a team of experts right here in the Bay Area who excel in all things payroll. The unique combination of experience, different skills and top-notch software allows us to serve the needs of companies of all sizes and industries, and we are proud to be a trusted partner for many local businesses, as well as companies across the nation.
In the sections to follow, we will discuss a few key trends in the payroll industry and what we are focused on in 2024. We constantly are seeking an edge for our clients, and we hope this trend report will help you understand the ways we can provide an advantage for your business in addition to our top-rated payroll service.
Automation
It’s very difficult to avoid the topic of AI today. Many companies and individuals are finding cutting edge breakthroughs with AI technology, and it appears we have only scratched the surface of what automation can do from a business standpoint. While AI will continue to improve and the applications of the technology will expand, there are many ways you can automate payroll and other key business administrative tasks in 2024. We currently use automation in many features, and will look to expand its use as we move forward to be able to provide better and faster service for our clients.
Payroll Flexibility
Many of us are used to the typical payroll schedule of being paid at normal intervals and not having much flexibility on when our checks come in. While this has always been the case, people are no longer bound by printing/receiving paper checks, so why should payroll still follow a weekly or bi-weekly schedule? Many companies are offering payroll flexibility as a perk, and we are monitoring this innovation as a trend for 2024 and beyond. An example of payroll flexibility is bonus payment. Instead of paying an employee for a bonus they earn on the next pay period, you could directly deposit it into their account as soon as it’s earned. By using new technology, you can offer flexible payments like these and still keep track of your payroll easily.
Security/Risk Management
Threats like internal payroll fraud, external hackers and more always are present, and increasing payroll security is a key focus point as we look to the future. Many people are concerned about the rise in reliance on tech from a security standpoint, and we are making it a priority to ensure the safety of data for our clients and working to always improve our payroll security. For businesses who process payroll in-house, security should be an important focus and strong reason to consider outsourcing.
To learn more about how we can help your company thrive in 2024, check out our website or give us a call today.
