How payroll can add to your bottom line

28th Jul 2020
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brightpay
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Payroll has never been seen as a profitable area, but that has now changed thanks to the cloud. 

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Automation

Payroll used to be very complex and it used to involve a lot of administrative burden. Fortunately, things have changed, and payroll is now much more than an administrative task.

This is largely because cloud computing and automation have made payroll services easier and more convenient to offer for bureaus and practitioners. 

In particular, automation allows you to save time that you can dedicate to more profitable work, such as advisory services, consulting and new business development, instead of spending hours doing repetitive manual tasks.

Collaboration

Cloud payroll portals are making it easier and cheaper to provide payroll services at

scale for all of your clients. Portals are much more collaborative and they allow your clients and their employees to speed up your work since they can do many changes themselves with the self-service interface. 

Cloud also allows you to collaborate with your colleagues, and you can all work remotely but together at the same time. 

Cybersecurity

A few years ago, cybercrime wasn’t a major source of preoccupation for small businesses. However, with small and medium-sized businesses now doing more business online than ever, hackers are also targeting them. 

Accountancy practice and payroll bureaus manage a lot of very sensitive information which make them a target for cybercriminals. Clients expect a high level of professionalism when they trust you with their data.

Since cybercriminals find it easy to attack companies that use cloud services with weak encryption technology, it is extremely important to have the best and most secure software in place. 

For all these reasons, cybersecurity is essential to demonstrate the value of your practice to your clients. The good news is that you are fully protected if you are already using BrightPay, which offers the most advanced data security as standard.

To find out more about how payroll can become the most profitable area of your practice, download the guide From process to profit: Four ways payroll processing can add to your bottom line.