Category: Finance

10 Feb

Various Online Payroll Services That Professionals Provide

The payroll is an important part of the firm but it is very difficult and hectic to maintain. Keeping an accountant for this can cost you high. So, it is better to hire the payroll services online to keep your firm operating at lower prices. In Bristol, most of the companies outsource the payroll to the expert agencies offering payroll services. The agencies offering services of payroll in Bristol are immense and there are many services offered by them.

Some services are as follows:

Payroll processing:

The online payroll services use the necessary software for the automatic calculation of the salary of the employees. The determination of the wage rates, credential shifting, leave etc. are many things that need to be taken into consideration during the online payroll processing. It is also the duty of the service provider to transfer the salaries into the employee’s account.

Filing and payment of the payroll taxes:

Filing of the report is another work that is very hectic but these are very easily done with the help of the online payroll services. The online payroll can withhold the employees for the taxes and file taxes of the quarterly payroll taxes of the employees to local state or the central authority. The best thing with these companies is that in case any mistake is done, they are fully responsible for the fines incurred. They will be paying whole interest so you do not need to worry about anything.

Payroll reports:

The payroll reports are very important to be correctly maintained. These services also help you to make the reports of the employees. They give you the detailed wages report and the labor reports and this can provide you an insight of how your business is operating.

9 May

Faster and Easier Bank Account Opening Process

A regional bank was facing many errors while opening new bank accounts. This resulted in a delay of opening accounts and loss of capital and business. A study was conducted by our team to understand the process of opening accounts.

There were many steps identified which were manual and complex processes, negatively affecting productivity. The employees had to navigate through dozens of screens to create a bank account which resulted in numerous errors and delay. Newer employees required proper training and understanding of the process and this also resulted in increased training costs.

Our team worked with a data analytics software that helped identify processes for automation and acceleration. The solution provided worked at cutting down needless processes which helped in reducing the time taken to open an account. This also resulted in few errors, improved employee productivity, morale and resulted in excellent customer satisfaction with increase in business.