It’s always a good idea to get a jumpstart on analysis of your processes and reporting and get it done early to reduce stress. If you are looking for ways to minimize your stress, here are five tips for you to consider implementing.
No.1: Integrate your Systems
They say that time is money. By integrating your system, you will be saving a lot of time and in the long run, you’ll be able to save money. In addition to saving yourself time and money, you’ll also be saving yourself from stress and manual duplicate data entry from systems that don’t talk to each other.
For example, electronic time and attendance monitoring, human resources, general ledger, tax reporting, and retirement accounting are individual processes that are done by separate applications. However, when you tie these systems together digitally, it can connect these items together and you’ll be performing better.
No. 2: Customize your pay Delivery
With the technology we have today, it’s much easier to pay employees digitally. Many companies have made the switch to paying employees via direct deposit because it’s more affordable than cutting checks.
However, some people have upheld a non-digital lifestyle and they either don’t trust the electronic system or don’t have a bank account. To avoid the expenses of check cutting, you can look into a payroll debit card. You can load the employee’s paycheck on a debit card and they can either use the card or withdraw the cash at an ATM.
No. 3: Consolidate Payroll Processing
Do you have different companies that you work with for your payroll services? If you’re jumping from place to place, this time of year can become very stressful for you. Consolidate your payroll processing and get everything done in one fast and easy place.
Not only can consolidation cut down stress, but it can cut down on costs as well. When an organization migrates from biweekly to monthly or bimonthly pay periods, overall savings of 30 percent to 50 percent are possible.
No. 4: Be Organized with an Effective Analytics System
Analytics is a great way to track trends and help you plan for the future. You can see what has happened in the past and predict what could happen in the future. For example, you could analyze the total cost of a project on a real-time basis by plugging in the numbers. This will help you identify impending cost overruns and help your company make changes on the fly.
There are many more tips and tricks that can help ease the stress for your responsibilities. If you’d like to hear more on how we can help you do the things discussed and more, give us a call today.