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Payroll services software to better understand your business' financial health

Now payday is a cause for celebration.

What is payroll services?

A payroll service is a third-party company hired to manage the payroll process from start to finish. The service logs employee hours, calculates earnings and deductions, and cuts checks or makes direct deposits on behalf of a company to its employees. More comprehensive payroll services also collect and organize payroll data into metrics that you can analyze to make more informed decisions.

How payroll services can help your growing business?

Did you know companies with more effective data grow 35 % faster? That's according to research we conducted with the IDG.

You can use payroll service solutions to gain a deeper understanding of how healthy your business is from a financial point of view.

Remuneration

The total cost of salaries will be an obvious place to start if you want to understand your payroll data more. With these numbers, you can build other metrics into your analysis such as a return on investment (ROI).

Turnover

High employee turnover is bad news. It may signify a deeper problem within the business when it comes to areas such as conditions, morale, and corporate culture. And it can cost money in lost productivity, recruitment, and training. Your payroll data can reveal what turnover is like in your business.

Absence

Analyzing data on sick days and vacation time will help you understand when workers are more likely to be absent and whether employees are taking their annual leave at the right time of year for the business.

Overtime

If employees are regularly working more than their agreed hours, consider what this means in terms of productivity and the way people are working. You can find out whether it’s more cost-effective, for example, to hire part-time or additional employees.

Training costs 

Payroll teams are sometimes under pressure to find ways of cutting costs and improving efficiencies. With a training cost metric, it’s possible to walk that tight line between making cuts and ensuring employees are upskilled properly.

Across each of these areas you’ll find a huge amount of data to examine and, because it covers such a long period, it's easy to start spotting trends. With the right payroll services software, you can use this information to plan ahead, knowing that you have an up-to-date view of your business. Payroll should be the first place you look, before planning for the future.

Find the right solution for you

Payroll service solutions for business big and small

Payroll Essentials and Payroll Essentials Plus

Payroll software with unlimited processing, tax filing, and direct deposit—at one low, flat monthly price for up to 10 employees. 

Payroll Full Service

Manage payroll working alongside a payroll professional. For businesses with more than 10 employees. It's simple, secure, and easy to use. 

Discover Payroll services today

Let our payroll services shoulder the burden so you can spend less time worrying about payroll, and more time on your business. 

Additional Payroll Resources

Sage Business Cloud Enterprise Management is designed to gain oversight into all aspects of your business.

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Do you want business advice about managing payroll?

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