Many businesses offer an assortment of benefits programs to employees: from paid-time-off to retirement plans to life insurance. While these programs offer great perks for the employees that choose to take advantage of them, they can create challenges in the human resources and payroll departments. There can be a lot of data to capture for payroll processing and certain programs require regulatory reporting. Improve benefits management processes by putting the right technology in place.
Benefits programs can actually benefit the business as much as the employee. Happy employees are productive and dedicated, which is good for the bottom line. What isn’t good for the bottom line is wasting precious time managing an assortment of programs by hand. There can be a lot of data to capture, monitor and report. Streamline benefits management with these three Microsoft Dynamics GP payroll add-on solutions:
- Manage unlimited forms of leave: Offering vacation, sick, personal, comp time, administrative leave, volunteer time or any other type of time off doesn’t have to be a paperwork nightmare. Configure your leave plans with Comprehensive Leave Manager and automate transactions without any additional steps for the payroll team. Especially with mandated sick leave on the rise, this is a time-saving solution!
- Control complicated retirement plans: Automate management of a variety of retirement plans, including Simple and Roth IRAs, 401k and 403b, and other non-qualified plans like 457b. Monitor contributions and corporate matching with Enhanced Retirement Plans. Enforce contribution limits, even across multiple plans, and comply with strict IRS restrictions with greater efficiency and accuracy.
- Simplify life insurance management: With Life Insurance Tax Calculator, you can automatically establish life insurance calculations based on employee age as designated by the IRS. During the payroll process, benefit amounts are updated automatically and changed, as necessary, with changes in employee salary or age.
Save Time, Improve Productivity by Deploying Modern Technology
Don’t waste any more time managing benefits programs by hand or on inefficient paper-based forms. Use modern technology to automate benefits management and save valuable time while improving the productivity of your payroll and HR teams. Contact Integrity Data for more information about these and other time-saving solutions.