Payroll processing plays a vital role in every business – no matter how big or small it is. Managing the payroll process effectively is truly complex as it requires knowledge of current taxes and regulations, an well-structured system and careful planning. As a result, it is essential for SMBs to execute their payroll process in a streamlined manner.
So the question is, how can SMBs ensure the success of their payroll process? In other words, what are the key features and “must have’s” that every business’ payroll process should have to minimize the complexities and ensure correct and on time payments to its employees?
In this blog, we will highlight a few hallmarks that every business’ payroll process MUST HAVE.
Continue reading Hallmarks of a Good Payroll Process
Managing payroll is a task that demands a great deal of attention and even a minor error in its processing can result in significant monetary losses for a business. Further, compliance issues, employee regulations and frequent changes in the tax laws, make payroll processing a highly challenging procedure and it can become difficult for businesses to successfully navigate through it without any problems.
Below are some of the critical challenges that small and medium businesses face while processing payroll for their employees:
Continue reading Major Payroll Challenges Faced by SMBs
In today’s highly competitive world of business, optimum utilization of time plays a vital role for a business’s sustainable growth. Considerable time of SMB owners is consumed in Payroll processing, managing cash flows, getting customers pay on time, keeping the costs down and increasing their profitability. As a result, there is no time to focus on the growth of their business. To thrive in a world where seemingly everyone is a competition, it is very important for a business to be dynamic. SMB owners need to wear multiple hats to manage their time and concurrently keep the wheels of their business revolving. Succinctly, they not only need to work hard, but also, work Smart. Continue reading Smart Accounting for Smart Businesses
Private Equity firms consider return on their investment as a key determinant while evaluating buying decisions. There are several criterions that go into short listing target companies including favorable market trends, stable and recurring cash flows, low capital expenditure requirements and a strong management team. Interestingly, while all these factors will help to consummate a strategic buyout across the drawing board, however they do not guarantee returns post the acquisition. Continue reading Why Private Equity Firms are reaching out to specialized Finance and Accounting Service Providers?