February 14, 2017

End Your Painful Payroll Management [Infographic]

End Your Painful Payroll Management [Infographic]

By Kit Dickinson on February 14, 2017

closeup of a knotted rope | Managing payroll can be like trying to untie an impossible knot

Managing payroll can be like trying to untie an impossible knot. Every pay period, you have to take data from multiple systems that don’t play well together, apply your unique business rules, and enter them into your payroll system. For many companies, that means dedicating as much as 20% of the week to the task of manually entering every piece of employee data.

It also means holding your breath the day after payday, hoping you don’t discover that fat-fingering resulted in inaccurate paychecks being dispersed throughout your organization.

Does Payroll Have You in Knots?

If you enter data from multiple systems, the process is time-intensive and costly—especially when mistakes need to be corrected. Between the innumerable steps, manual calculations and changing policies, it’s nearly impossible to avoid errors—which raises questions from your employees and puts you at risk of FLSA noncompliance.

The U.S. Department of Labor estimates that at least 70% of employers are not in full compliance with the Fair Labor Standards Act (FLSA). Many of them don’t even realize it. And while simple human error is never completely avoidable, noncompliance carries serious consequences. FLSA noncompliance can result in heavy fines, lawsuits and even criminal charges. If you’re a government contractor, you could be debarred from government contracts for three years.

Between ever-changing government regulations, your unique business rules, and the multiple systems involved, the payroll process has become a tangled, undecipherable knot.

Infographic: Automation Can Solve Your Payroll Knots

If you have unique business rules or pay policies that you’re applying manually, or if you find yourself duplicating entries across multiple disconnected systems, automated integration might be the solution you need.

With just the click of a button or on a predetermined schedule, payroll automation can increase your efficiency, reduce legal risks, and help eliminate human error. You could save hundreds of hours and thousands of dollars each year. Not to mention legal fees and employee disputes.

Download our infographic, Automation Solves Your Payroll Puzzle, to discover how an automated integration application can solve your payroll knots for accurate, efficient, and compliant results—with every paycheck, every time.

In this infographic you’ll discover:

  • Statistics on the legal risks of manual processes
  • 9 specific ways automation mitigates cost, inaccuracy and legal risks
  • Information on how to get started with automation

Can Time Bank Solve Your Payroll Puzzle?

 

Quick Time Entry Video