As your company grows, you might become more concerned about securing your data and protecting your employees from data breaches or tax-related errors. You are not alone. With these concerns in mind, many business owners seek out protective measures to prevent these errors from occurring in the first place.
Fortunately, security services often come equipped with payroll and HR services. You can even purchase these services as a single package to improve your security and ensure accurate data calculations.
More than one type of security
While payroll and HR software can improve your company’s security, you will first need to choose the right program. Not all HRIS software is created equal. Even programs hailed as the “best” might not actually be the best for meeting your company’s needs. If you practice due diligence and research several different programs that offer what you are looking for, you will likely easily find one that offers the robust security your system requires.
Security from malicious intent
A good payroll or HR software program will come with encryption capabilities, which will add a level of protection to your company’s valuable data. The program will also incorporate security measures and authentication steps so that you can protect your data from being accessed by unauthorized parties with malicious intent.
Additionally, most programs can protect your workplace database from viruses, phishing scams, spyware, malware, identity theft, hackers and any other sort of security breaches that would be devastating for your company.
Even if you choose a program that allows your employees to create accounts that enable them to view and make changes to their employee reports, a reliable system will employ multiple security measures to monitor their access. In addition, you can enable access tiers to allow authorized personnel to access certain sections of your database, while keeping employee access separate.
Having software that calculates your company’s income and expense reports accurately can prevent potentially devastating financial errors. It is possible to calculate your company’s finances manually if you own and operate a smaller company; however, as your business grows, ensuring accuracy becomes more of a challenge.
A reputable payroll and HR software program can automate the calculation of your employees’ wages, benefits, overtime, bonuses, retirement, and tax responsibilities with a high degree of accuracy. Even as new tax codes are adopted, the program will remain up to date so that it is always working to protect you from making mistakes.
Rather than having to calculate financial information manually, you can depend on the payroll program to ensure that your company complies with the government by calculating and processing accurate reports. With proper compliance, you can secure your company against audits and fines associated with haphazard wage calculations.
In fact, some HRIS companies specifically offer protection against audits. In other words, if an error occurs on their watch, the company will take steps to resolve the audit for you, whether that involves paying the fines or providing representation.
Again, not all payroll programs offer security features, so you should research a range of different programs before choosing the program that is ideal for your company. Ask questions, review your budget and consider recommendations from other business professionals to make an educated decision as to which payroll program would best suit your business’s needs.