Are you struggling to manage your contingent workforce? Discover how payrolling technology provided by staffing agencies like Dahl Consulting (DAHL) is revolutionizing the way businesses operate by maximizing efficiency through process and automation, backed by industry experts.
DAHL has over 40 years of experience delivering employment expertise to help businesses achieve operational excellence. In this article, we share the common problems that payrolling technology solves, why vendor management systems (VMSs) are important, the benefits of our proprietary vendor management system technology (APRU), how this technology improves payrolling processes, and lastly, how you can choose the right payrolling solution provider.
Common Problems Payrolling Technology Solves
Payrolling technology (like APRU) solves common problems that businesses face when managing their contingent workforce. These problems include issues with onboarding/offboarding, contract management, data/analytics reporting, and more. With payrolling technology, businesses can automate these tasks and streamline their payrolling operations, saving time and reducing the risk of errors.
Another common problem that payrolling technology solves is compliance with tax and labor laws. Payrolling regulations can be complex and continuously changing, making it challenging for businesses to stay compliant. Payrolling technology automates tax calculations and ensures that businesses are always up to date with the latest regulations, reducing the risk of penalties and legal issues.
Why a VMS is Important
One of the common services that staffing agencies offer is a VMS, which provides features such as time tracking and workforce reporting modules. A VMS is important for businesses that rely on external vendors or contractors for their workforce to better understand the employment-related costs of running their business.
Vendor management systems allow businesses to effectively manage their vendor relationships, from onboarding to payment. It provides a centralized platform where businesses can track performance, manage contracts, and ensure compliance with regulations.
By using a VMS, businesses can improve operational efficiencies by automating vendor management processes. They can easily track hours, expenses, and invoices, reducing administrative burdens and improving accuracy. A VMS also provides businesses with real-time data and analytics, allowing them to make informed decisions about vendor selection, performance evaluation, and cost optimization.
VMS Benefits & APRU Technology
DAHL’s VMS technology is called APRU. APRU, which stands for Advanced Platform | Resources Unlimited, is an advanced technology that enhances the capabilities of a contingent workforce program through its ability to centralize, track, and streamline employment-related processes and data.
APRU automates key processes within the payrolling system, such as time tracking, invoicing, and payrolling calculations. This automation not only saves time but also improves accuracy and reduces the risk of errors. APRU technology also provides businesses with real-time visibility into their payrolling data, allowing them to monitor expenses, analyze trends, and make data-driven decisions.
Additionally, APRU integrates seamlessly with other HR and accounting systems, creating a unified ecosystem for managing workforce and financial data. Overall, APRU enables businesses to streamline their payrolling operations, increase efficiency, and achieve cost savings.
How APRU Improves the Payrolling Process
APRU improves payrolling using technology in several different ways. Below are the top five areas of positive impact.
- Automated Payrolling Processing: APRU can automate various aspects of the payrolling process for contingent workers. This includes time tracking, invoice generation, and the actual payment process. By automating these tasks, APRU reduces the likelihood of errors that can occur with manual processing and ensures that workers are paid accurately and on time.
- Compliance Management: Payrolling involves adhering to various legal and regulatory requirements, including tax laws, labor laws, and industry-specific regulations. APRU helps ensure compliance by keeping up-to-date with these requirements and adjusting the payrolling process accordingly. This minimizes the risk of non-compliance penalties for both the staffing firm and their client businesses.
- Cost Tracking and Management: For businesses, understanding the cost of contingent labor is crucial for budgeting and financial planning. APRU provides tools for tracking and managing these costs more effectively. It offers visibility into the total spend on contingent labor, enabling businesses to make informed decisions about workforce management.
- Efficient Onboarding and Offboarding: The onboarding and offboarding processes are integral to managing a contingent workforce. APRU streamlines these processes, which includes setting up payrolling for new hires. Efficient onboarding ensures that new workers are ready to start work and get paid without unnecessary delays, while effective offboarding ensures that all necessary steps are taken to conclude a worker’s employment smoothly, including final paychecks.
- Data Analytics and Reporting: APRU includes analytics and reporting capabilities that provide insights into the contingent workforce and payrolling expenses. These insights can help staffing firms and their business partners optimize their workforce strategies, identify cost-saving opportunities, and improve overall operational efficiency.
How to Choose a Payrolling Partner
Choosing the right payrolling partner is crucial for businesses looking to maximize the benefits of payrolling technology. Here are some factors to consider when selecting a payrolling partner:
- Expertise and Experience: Look for a payrolling partner with expertise in your industry and a proven track record of delivering reliable payrolling services.
- Technology Capabilities: Ensure that the payrolling partner uses advanced technology, such as APRU, to automate and streamline payrolling processes.
- Compliance and Security: Verify that the payrolling partner has robust security measures in place to protect sensitive employee data and ensure compliance with data privacy regulations.
- Scalability: Consider the scalability of the payrolling partner’s services to accommodate your business growth and changing needs.
- Customer Support: Evaluate the level of customer support provided by the payrolling partner to ensure that you will receive timely assistance and resolution of any issues.
By carefully evaluating these factors and selecting a reputable payrolling partner, businesses can effectively leverage VMS technology to maximize efficiency and achieve their workforce management goals.
If you are looking for a payrolling partner who checks all of these boxes, consider working with DAHL! Our customizable, scalable payrolling solution powered by APRU can help you achieve your contingent workforce management goals. Get connected with one of our employment experts today to get started!