What the coronavirus outbreak tells us about bringing processes in-house
25th Mar 2020
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As COVID-19 spreads across the globe, businesses have started to feel the pinch as cash flow and liquidity problems due to halted production, supply issues and changing consumer behaviour take hold.
Of course, the upheaval from the coronavirus outbreak will eventually subside (we hope). In the meantime, businesses have to ensure they can keep things ticking over. The outbreak also shows the value of self-reliance.
One way to insulate yourself from the impact of COVID-19 (and crises more generally) is to bring core business functions in-house. You’ll be less prone to supply chain breakdowns when you retain control.
Payroll processing is an excellent example of a business function you can easily do yourself. Instead of relying heavily on outside stakeholders, you can take control and keep this vital part of your business ticking over.
As well as making your business more resilient, processing your payroll in-house offers instant access to your payroll and employee information. You can manage your payroll data and who can access it at a glance.
You can simplify last-minute adjustments and still pay employees accurately and on time, all without having to lean on your accountant or payroll bureau.
Perhaps you’re resisting the idea of bringing payroll in-house because, instinctively, it sounds like a bureaucratic nightmare. Indeed, if you used the wrong software (or tried to do things manually), then your instinct would be correct.
In-house payroll software like BrightPay allows employers to instantly upload employee hours or rates and apply the relevant pay rates. Our straightforward payroll demo demonstrates how all payroll processing happens on one single system, eliminating excessive data entry and email ping-pong.
Seamless payroll end-to-end
In-house payroll is an easy way to minimise your exposure to risks. When there’s economic disruption, you can keep things ticking along without being dependent on outside suppliers.
Beyond crises, however, in-house payroll facilitated by industry-leading software like BrightPay keeps your sensitive payroll data safe. Instead of exposing sensitive information to an outsourced payroll provider, you keep all that private information in your own secure in-house database.
The Challenge of the Coronavirus & How BrightPay can Facilitate Remote Working
Businesses are understandably concerned about the steps they should be taking to manage the risk of COVID-19. We would like to provide reassurance to our customers that BrightPay is well prepared. Many businesses are now putting in place precautionary measures to combat the spread of the virus and to protect their employees. BrightPay can facilitate the option to work from home, which is one of the primary ways businesses are changing the way they operate.