Payroll companies provide these services by offering software that has a defined end to end process.
Payroll Processing Services
Payroll processing services are carried out by payroll processing outsourcing companies. Such companies have cutting-edge technology and innovative systems that can be used by different systems in different countries.
What is a Payroll Company?
A payroll company is one that specializes in processing payroll for companies that choose not to do it in-house.
Working with payroll companies can offer you the following advantages:
- Zero errors. Payroll companies have software designed to detect errors so they do not cost you money through fines and losses.
- Reduced costs. With payroll companies, you get an overview of your labor costs and can easily compare that with your budgeted costs.
- Allocating time to other duties and not repetitive tasks like payroll.
Misconceptions about payroll processing companies
Many companies are afraid to entrust their sensitive employee information to payroll companies because of some misconceptions that are simply untrue.
For example, it is not true that working with payroll companies means relinquishing control of all payroll processes. Customers always have the power to decide upfront what kind of arrangement they want based on their needs.
Another misconception is that cloud-based services are not secure. Affinity has a top-notch internet security system to ensure that all employee data from the hundreds of companies it works with is safe.
Instead of worrying about these misconceptions, companies could instead benefit in the following ways:
- Eliminate their payroll burden and entrust their payroll to automated workflows.
- Remove unpredicted costs and stick to fixed cost service providers.
- Increase their control over compliance issues. Affinity’s HRIS system makes sure to send you regular reports about compliance, so you never have to run the risk of expensive fines or business losses that could have been avoided.
- Limit administration and repetitive tasks that are seamlessly woven into our system. Your payroll will no longer be paper-based or manual, and as a result, your HR staff will be more productive in their tasks and duties.
- Fighting against fraud. Our software has strict controls in place, such as approvals at every stage to ensure fraud is minimized if not eliminated. These discourage your staff from even thinking about any monkey business.
Enjoy flexibility. Our services are adaptable, depending on our customer’s needs and business environment. You can always opt in for additional services and upgrade your package as you grow.
End to end payroll process
Affinity follows a basic end to end payroll process with all its customers.
When new employees come into the company, we receive this employee’s details into our system for online workflow.
This process facilitates changes to various details such as position, wage payments and personal information.
At this stage, leave application, approvals, reporting and payments are automated so that employees are able to apply for leave and their superiors can approve their applications.
Timesheets are provided online and all employee work hours are recorded.
Affinity provides helpdesk support for managers and employees separately, in order to be as efficient as possible.
Compliance and Reports
You will receive alerts for any irregularities in your payroll. You will also get alerts for noncompliance issues so you can work on these as soon as possible. With regards to reporting, you will receive regular reports. All reports required by the government will also be available.
Affinity uses Artificial Intelligence to check for errors just to ensure that we are as accurate as possible. Our software is currently the only software system worldwide that promises 99.9% accuracy.
The last process in Affinity payroll processing is the payroll output. During this stage, deductions of super and tax are made, payslips are created, bank deposits are made, bank checks are delivered to their rightful owners, and statutory filing is done.
SAAS Provider for payroll processing
SaaS simply means software as a service. Such service providers provide payroll services on the cloud (that is, online). Affinity provides cloud-based solutions to its customers.
Such services are available for all types of companies, whether large or small. It is a convenient way to run your payroll, especially for smaller to medium-sized companies, since you are able to log into your account on the provider’s website and put in all the information required.
There is usually an easy three-step process associated with such services.
- First, a staff member from HR or finance logs in and automatically has access to the company’s account. Typically, you can access your account from any location and on any device.
- The second step is entering the payroll information and checking its accuracy.
- Last, you can approve and process payroll for your staff.
This is characteristic of simple SaaS payroll services.
Affinity offers SaaS because it is the most ideal solution for companies. The difference between SaaS and other systems is that under SaaS, you rent the software rather than purchase it. You still have the same features under SaaS.
Additionally, with SaaS, you don’t have to worry about purchasing the software, installing it and training your staff to use it. You also do not have to worry about the IT security for your software. All these can get quite expensive.
If you are interested in renting our software for business use, get in touch with us for a quote.