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Home›Business›How Payroll Solutions Help Canadian Businesses Maintain Competitiveness

How Payroll Solutions Help Canadian Businesses Maintain Competitiveness

By Danny Messinger
January 27, 2018
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In a highly competitive business market which includes both online and offline opportunities, one essential objective of Canadian businesses is to continuously focus on maintaining competitiveness. Improving efficiency and streamlining business processes helps companies to gain a competitive edge. Because Payroll and Human Resources are essential components of every business, managing these processes manually can be complex, expensive and time consuming.  Staff can spend hours or even days processing payroll and other components. Taking up valuable manpower and time on these business processes takes time away from tasks that help a business succeed. This is why working with a company that develops, implements and markets a payroll, human resource, time & attendance and web self service fully integrated solutions will greatly benefit Canadian businesses.

Meet and Exceed Canadian Payroll Compliance Standards

Payroll processing is one management area that needs to be efficient and accurate, but it can be very time consuming as there are many complicated calculations that must be performed to avoid costly mistakes. Fortunately, Canadian businesses have access to fully integrated solutions that can greatly improve business operations while saving time and money. A single system enables businesses to accomplish all their paperless payroll functions while meeting and exceeding the Canadian Payroll compliance standards. Managers and employees with access permission can generate accurate on-time reports, view pay statements, personal information, and company documents, all accessible via a self-service portal.

An integrated HR and payroll system is an easy and flexible way to schedule and track time, automatically calculate retroactive pay, set automatic pay increases based on their rules, and much more. Users can also view and download detailed audit trail reports and create “sandbox companies” to test and run scenarios. As well, managers can make use of integrated functions that include new hire onboarding, vacation requests and approvals, scheduling, time & attendance, retention strategies and workforce planning.

Simplify the Payroll Process

A modern payroll solution is designed for customization. Because Canadian payroll has many different requirements, an integrated system enables multitasking which is a valuable time saver. For instance, a business has the ability to process multiple pay frequencies in the same database, manage multiple positions and rates per employee, track hours by position, manage multiple benefit plans for different employee groups, as well as deliver pay statements, compensation statements and tax slips electronically.

A Powerful Admin Assistant

Fully integrated HR & payroll solutions enable businesses to save time by effectively and accurately managing day-to-day tasks. This includes: quick processing of payroll, manage payroll requirements that reflect business policies, record and collect time the way managers want, make automatic pay increases based on the rules managers set, automate calculations for earnings deductions and benefits, make mass updates quickly and easily with special “wizards”, and more. As well, it is very valuable to have a support team on the front line that hold payroll and HR designations and understand the industry and the unique requirements that arise as a result of CBA’s, changing legislation and diverse work environments.

Save Time, Money, and Improve Efficiency

For business, it is essential to keep track of all assets, including human resources, and provide

employees with the appropriate compensation on a reliable schedule for error free calculations, integrated system solutions gives Canadian businesses the most current tools required to process payroll and easily keep track of all their records. When a business chooses a Canada provider of integrated systems, it is important to make sure that the business will not outgrow the system. As well, obtain the technology from a company that provides solutions that are constantly evolving with the industry to fit business needs. Clients should always be kept up to date with their technology, and the upgrades should not cost anything. In addition, the provider should be continuously adding new additions and always paying attention to feedback.

An integrated HR and payroll solution simplifies business payroll systems by getting rid of the time-consuming procedures that were once done manually and involved a lot of time, staff, and paperwork. This easy to use solution gives users the ability to easily file their reports and maintain them properly which saves both time and money. The result is improving business operations and effectively having a direct and positive impact on the bottom-line.

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