The COVID-19 pandemic has tested every aspect of payroll. Companies have learned several important lessons in the past few months as businesses realize that they cannot be too reliant on manual payroll processes.

Lessons Companies are Learning from the Pandemic

Automation will be critical for business continuity in the post-pandemic world.  Many companies realize this and are replacing old, inefficient IT systems that use manual processes with systems that leverage modern technologies.

The coronavirus pandemic caught everyone off-guard. No one was ready for it. Many businesses have learnt from their mistakes. The pandemic taught the importance of having a strategic business plan in place. Many businesses have already charted new policies to ensure their payroll systems run smoothly even with less manpower.

How the Pandemic is Impacting Payroll Processing

The COVID-19 pandemic has pushed economies into a tailspin. Almost every sector has been hit by the pandemic. Work from home is the new normal and many companies have hired dedicated teams that can operate from remote locations.

Companies that store their HR data in the cloud were able to shift their operations to remote working quickly and easily. Companies that use traditional payroll infrastructure, on the other hand, were caught unaware.

Most employees in such companies are operating from a fixed workstation. In most cases, managing payroll remotely is out of the question as payroll systems are usually installed and hosted on local data centers.

Why Outsourcing Your Payroll During the Pandemic Makes Sense

You Will Save Time

As businesses are forced to operate with smaller teams, managers are looking for ways to ensure optimum utilization of their remote teams. A payroll processing team usually spends between 50-200 hours yearly on payroll management.

If you have a dedicated team for payroll management, consider outsourcing your payroll to a payroll processing company. Outsourcing will allow you to operate with a smaller team (which means you will save resources).

Your team will be able to focus on more critical tasks, and your employee productivity will increase. High employee productivity can be a key differentiator in these testing times.

Ensure Compliance

Both the federal government and state governments have come up with new policies for businesses during the pandemic. Keeping up with these changes is a tedious task. Many changes are not easy to understand.

Your payroll service provider will keep on top of federal, state, and local regulations and introduce changes to ensure compliance.

Security

Cyberattacks have increased during the pandemic. An in-house payroll management team needs remote access to data servers. This increases the chances of a data breach.  Payroll processing companies are aware of these threats and adopt best practices to secure their servers.

Virtual Jeannie Bookkeeping Services Inc. offers top-notch payroll services near you. Over the years, we have helped several clients save precious dollars by weeding out inefficient payroll processes and replacing them with efficient processes. To talk to one of our experts, call (707) 664-1425.