Last Updated on January 11, 2024 by amazingposting
When your company is spending too much time on payroll but still getting tax penalties from the local revenue authorities, it’s time to make a switch. Handling payroll options with a manual process can increase the risk of errors. And considering how payroll is the lifeblood of any company, opting for a corporate payroll service can prove effective. The purpose of adopting this service is that it speeds things up by taking a technology-based approach to running payroll. Your two main options include software or a company like Flyfish, which I’ll discuss in this Flyfish review.
Buying off-the-shelf software can address some of your problems, but not all of them. Depending on the type of service you provide and your specific industry, you may need more customized payroll solutions.
Create Your Business Debit Cards
When running a business, making purchases is difficult, especially when all expenses are treated equally. Buying so much as a stapler for the office requires the same process as purchasing heavy equipment. However, this traditional process involves long waiting times before you finally secure approval. When you have a business debit card, you can address these issues while ensuring greater flexibility.
By ordering a business debit card for your employees and suppliers, you can make day-to-day purchases without the hassle of a lengthy process. This way, you can save on transaction costs and enjoy greater spending flexibility. Once your employees have business debit cards, they can use them to make purchases rather than using their cash and waiting to be reimbursed.
Array Of Perks Like Quick Onboarding
With Flyfish, you can access various perks, like instantly getting multiple corporate IBAN accounts for your business. Similarly, you can enjoy a quick onboarding process that takes up to 24 hours without going through the hassle of passing a credit check. Moreover, you can also get virtual cards that allow you to make payments with Google Pay or Apple Pay.
And if you’re still on the fence, you should know that making payments anywhere with a Flyfish card is possible. You’ll easily make transfers with a network of over 80 million merchants across 40 countries. Plus, you get 24/7 access to track and control spending. Once you sign up with Flyfish, you’ll have access to an entire set of financial tools through a single platform.
Quick and Convenient Payroll Management
With Flyfish, you get a complete payroll service that handles the entire process of making employee payments without delays. The primary benefit is that you can focus on growth-related activities like product development, marketing, and sales. Another advantage is more significant time savings since corporate payroll reduces the time it takes to deal with labor-intensive areas. These include calculations like wage payments and tax withholdings.
Since Flyfish is a system with full-service capabilities, your business will have easy access to the proper tax forms. This way, they can file reports with government agencies on your behalf. With all this, you benefit from accurate recordkeeping with a lower risk of errors. Federal and state governments may have separate requirements for payroll data. Hiring a company like Flyfish allows you to maintain the necessary records for compliance across databases.
Open a Corporate IBAN For Your Business
Another excellent feature of signing up with Flyfish is that your business can get a corporate IBAN. You’ll be able to manage, send, and receive money much more securely. More importantly, you can send and receive money from anywhere in the world through SEPA and SWIFT transfers, all without dealing with exorbitant transaction fees.
Even if you’re a small or medium-sized business, you stand to benefit from a dedicated IBAN or corporate account, no matter what industry you operate in. A corporate IBAN gives you greater personalization and security for your transactions than a shared IBAN. Other benefits of choosing a corporate IBAN include the option to make cross-border multi-currency SWIFT payments, instant SEPA transfers, and quick payments worldwide.
Ultimately, there are various advantages to choosing a company like Flyfish to help manage your business’s payroll and transactions. For more straightforward day-to-day transactions, you can order a personal business debit card and cards for your employees and suppliers. Meanwhile, signing up with Flyfish gives you tons of perks, like faster onboarding in up to 24 hours. The most significant advantage is that you can make faster payments to your local and international teams without worrying about delays. You can also open a corporate IBAN for your small or medium-sized enterprise to ensure quick and easy transfers worldwide.