Why bulk payments might be the best solution for salaries
Daily management of your business, especially in terms of administration, is a lot of work. Indeed, this isn’t even the work itself that you are necessarily focused on. Nevertheless, proper administration work is as important as the business itself. It must be done correctly. A key focus for business within this is salary and wage payment.
Though it sounds simple enough, once you begin doing this, you will realise that it requires a great deal of work. But this is only because you do so manually: there are systems one can use, that’s part of DigiCash’s services, to help you in these processes to make it easier, reliable and smooth for everyone. One of the most obvious and effective is bulk payment EFT pay-out.
The reasons are numerous
Payments don’t need to be processed on an individual basis. Everything is simply and fast. Because it’s based on automated EFT payments, payments happen at the push of a button – after putting in your employees’ bank details. The system works with Excel/XML systems, thus meaning it is efficient and easy to use across a broad spectrum.
Costs add up when you are processing individual account payments separately: with bulk payments, you tend to pay less per transaction. This makes it appropriate since you’ll be paying your employees at the same time, the same amount (for every individual, barring raises, etc.) every month.
An essential part of bulk payment are the sophisticated security protocols involved. For example, Secured Sockets Layer (SSL) ensures data becomes encrypted as soon as data is submitted. Furthermore, consistency itself is a key factor in security: paying the same people the same amounts makes it easier to catch discrepancies and therefore crimes.
User-interfact and ease-of-use is key to a good bulk payment solution. This means you don’t need to do the calculations, etc., to make the payment, but should have peace of mind knowing it will work the process for you since you have done it before. You should be able to pay at any time and manage accordingly: including bonuses, raises, etc.
Bulk payments then should save you money, time, energy and unnecessary worry; it facilitates better use and aids your administration of your business letting you worry about the actual day-to-day business. Employees, too, benefit since they are assured their payment relies on an effective and safe protocol. Free time and peace-of-mind are key to this solution.
(Image credit: o5com / Flickr)