Medium-sized businesses are often growing enterprises that must adapt to workforce changes, unique regulatory requirements, and the management of multiple locations or jurisdictional concerns. Payroll software can bring numerous benefits to these businesses by reducing redundant HR tasks, streamlining timekeeping, automating deductions, improving employee retention, and providing peace of mind regarding compliance concerns.
Whether it’s the daily challenges of running payroll, granting increased transparency to employees, or consolidating and securing employee data, it’s important to choose a payroll software and provider that can adapt to the evolving needs of your business.
Payroll software is a single-platform tool that empowers your business to quickly and efficiently manage payroll taxes, time tracking, employee pay (including frequency/method), and local, state, and federal compliance concerns. It also helps you automate a host of HR tasks, freeing up time for your staff to focus on higher-priority business tasks while offering a mobile, 24-7 employee self-service system to your employees. While payroll software lets you and your employees stay on track with wages, salaries, bonuses, deductions and more, CAVU can easily integrate this functionality with benefits administration, PTO management, and other facets of your HCM process.
The net effect of payroll software is that it saves you and your employees time while improving accuracy, productivity, employee satisfaction, legal compliance, and transparency regarding the payroll process.
A medium-sized or midsized business typically includes companies with anywhere from 50-999 employees. Although it’s tempting for some mid-sized businesses to stick with a purely in-house approach to payroll and HR, growing businesses are subject to unique compliance requirements and often need help navigating them, especially if they are scaling payroll and HR operations to complement their ongoing business development and the increased expectations of their employees – whether it’s direct deposit pay, a mobile platform to access pay information, or an easier and more intuitive time tracking system.
That’s why CAVU offers specialized payroll services for medium-sized businesses to help them integrate compliance requirements directly into their software while automating a number of HR processes, minimizing human error, and offering the payroll features that job candidates, as well as new and existing employees, desire.
Using payroll software that can be specifically adapted to support mid-sized businesses, CAVU’s payroll solution helps you automate and manage pay raises, garnishments, managerial approvals, bonuses, and much more. Working with one of our payroll experts, we tailor your payroll software to address all applicable compliance concerns in the jurisdiction(s) and location(s) where you operate. Whether it’s tracking and reporting ACA and other federal regulations, or unique local and state regulations, we ensure your business remains compliant while identifying and capitalizing on all possible tax credits and benefits for your business.
While our leading-edge software is aligned to adapt to the practical needs of your growing business, we also ensure that payroll transparency is offered to all of your employees, who can enjoy an easy-to-use platform that enables mobile time tracking and convenient access to employee data from anywhere. This reduces HR-related tedium for your employees while improving productivity by allowing all of your workforce to focus on central business projects and tasks.
In-house payroll management often involves a range of manual tasks, multiple platforms without consolidated data, and a sense of uncertainty about existing or forthcoming regulatory requirements. This approach not only creates inaccuracies that could lead to noncompliance penalties or issues with late payments and employee retention; it also detracts from your employees’ ability to focus on their core job responsibilities and prevents your HR staff from focusing on recruitment, onboarding or other concerns that require their best effort.
With CAVU’s payroll solution, you can eliminate the need for physical timesheets, paper expense receipts, or stressful overtime calculations. With a host of automated tools embedded in the payroll platform, you can manage overtime, pay rate distinctions, and shifts; and review (and receive) time tracking by individual employee, or based on location, department, or another factor.
Managing payroll taxes can be a dizzying process, especially for medium-sized businesses that must stay up-to-date with shifting tax requirements and the demands of a growing workforce. CAVU’s payroll solution helps you automate payroll tax calculations, make automatic tax deductions, and file all payroll taxes to the appropriate agencies, including local taxes based on jurisdiction. Through our payroll support, you can save time on payroll taxes and operate your business with confidence, knowing that late payments, inaccurate payments or noncompliance penalties will not occur.
Along the way, we’ll make sure your medium-sized business is aware of any payroll tax credits and benefits that could be claimed. Whether it’s Employee Retention Credit, Work Opportunity Tax Credit, or otherwise, our payroll experts are prepared to help you file a successful claim.
Although payroll software offers immediate benefits to any medium-sized business, it also represents a lasting investment in employee satisfaction, employee retention, and business-wide transparency regarding important HR processes.
CAVU’s payroll solution provides 24-7 mobile access through its employee self-service portal, allowing your employees to track time, view timesheet data, add direct deposit information, update personal information, make PTO requests, and much more.
Through this platform, employees are directly connected with their personal, timekeeping, and payroll information, granting them greater autonomy while reducing the workload for your HR staff, who can instead emphasize improved new hire and employee experience.
CAVU HCM: Flexible plans, amazing technology, and expert Payroll Guides
Consider the jurisdiction, ongoing business growth, workforce configuration, and other unique needs of your medium-sized business. Providers like CAVU offer personalized support, employee self-service tools, and software to automate tasks and ensure compliance.
Payroll software should make time tracking, expense & reimbursement accounting, and payroll tax deductions accurate and streamlined. It should also facilitate timely payments to employees, incorporating their preferred payment methods, such as direct deposit.
Payroll software should offer mobile access to HR data, keep your business data secure, and remain scalable with your growing business. These features can contribute to overall employee satisfaction.