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How Technology can Help Solve Small Business Payroll Challenges?

HR Tech Outlook | Friday, April 16, 2021

How Technology can Help Solve Small Business Payroll Challenges?The latest AI-powered payroll apps are designed for convenience, mobility, and versatility, giving you proactive updates and enabling you to handle payroll and related tasks with just a few taps on your phone.

FREMONT, CA: Payroll is a difficult task. Tax laws are constantly evolving. Paying your employees is always the last item on your to-do list. Fortunately, payroll systems for small businesses have come a long way in recent years. Many of today's payroll systems have encouraged small business owners to drop time-consuming and confusing manual processing in favor of automated payroll, which improves consistency and performance.

Here are five challenges of small business payroll that technology can help improve:

User-Friendly Payroll Platforms

Although today's payroll systems may seem to be more appealing than earlier versions, they still lack reliability when compared to more advanced payroll platforms that use modern consumer technology to make paying your employees simpler and faster than ever before.

Accurate Payroll

You may be more assured that you won't misclassify contractors as workers, leave out required tax or benefit deductions, or issue incorrect paychecks if you use these methods. Instead, your payroll operations would be near-perfect, mainly if your AI payroll tool is backed by a major payroll enforcement and execution firm.

Simpler Payroll

Most current payroll software programs automate the tedious task of manually crunching numbers, and some are revised regularly to reflect the most recent tax laws. While these features reduce errors and make tax calculations and employee payments easier, they just keep the company on track, not ahead of the trend.

On the other hand, newer AI-powered payroll apps learn your payroll inside and out to personalize your service and optimize productivity and accuracy. As a result, your payroll process will never miss a beat, and you will never have to learn the ins and outs of tax laws, freeing you to concentrate on what is more important to your business.

Less Admin Work

Your employees can enter their details when recruited, update information such as their home address and tax withholdings, access their pay statements, auto-generate their W-2s, and so much more using smarter, more intuitive payroll systems that leverage familiar conversational interfaces, all in a matter of seconds via chat interface from their phones.

Quicker Payroll

The latest AI-powered payroll apps are designed for convenience, mobility, and versatility, giving you proactive updates and enabling you to handle payroll and related tasks with just a few taps on your phone. This means you can pay all of your workers in under a minute, and if you're feeling very generous, you can give a deserving employee a raise in the same amount of time.

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