At Thread, service isn’t reactive. It’s designed with structure, ownership, and transparency.
Streamlined compliance
Compliance with federal and state tax regulations is key for any business, but especially for larger companies – even a simple error can result in fines and damage the trust of employees. Enterprise payroll software like isolved incorporates all relevant federal and state tax regulations, as well as legislation regarding employee benefits, bonuses, workers’ compensation, and more. By streamlining the payroll process, larger companies can lower the risk of penalties and build employee confidence.
Advanced reporting and analytics
Enterprise HR software that integrates reporting and analytics can increase transparency for large businesses. These features provide clarity for labor costs and budgeting reports, as well as enabling real-time payroll monitoring. When employees also have access to reporting and analytics features, they’re able to track their income, observe productivity metrics, and more.
Integrated HR & payroll platforms
Integrating enterprise HR software and payroll platforms improves data accuracy and reduces labor costs, as well as improving each user’s experience. As an example, when enterprise payroll software incorporates data from time-tracking software, this can significantly decrease both processing time and the risk of incorrectly inputting data.
Automatic benefits processing
Regulations surrounding employee benefits are complicated, and employees may even underutilize benefits because they’re unaware of what’s available to them. With a system like isolved, however, companies can automatically integrate benefits with every payroll. Employees can also track their benefits through the self-service portal, and stay up-to-date on which benefits they’re eligible to receive.
Why is Our Enterprise Payroll Software Unique?
We use isolved technology to help simplify HR, payroll, benefits, and time tracking, among other things. Rather than considering these processes as business costs, we treat them as ways to develop the potential of one of your greatest business assets: your employees. Businesses from all 50 US states can depend on our enterprise payroll and HR software, as well as our fast, personalized service. Whether you’re looking for dedicated HR consulting services, payroll software for large companies, or a combined enterprise payroll and HR software solution, you can rest assured that with Thread, your company’s needs will be taken care of.
Testimonials from Our Partners
”The team at Thread has been absolutely phenomenal to work with! They took the time to understand our unique business needs and provided tailored HR solutions that made a real difference. Their expertise and responsiveness have been invaluable. I gave them such a great score because they genuinely care about our success and have become a trusted partner, not just a service provider.
Paige M.CFO
”The implementation team is phenomenal, especially Jen Verhoff, Destiny O'Neill and Melanie Morrison-Williams! The team has consistently responded to requests and/or jumped on calls at the drop of a hat when requested or urgent needs come up. We have had to push back PR go-live several times due to our internal changes, and Thread has flexed at every request with zero hesitation. This team has poured hours into answering calls, sometimes repetitive... I look forward to go live, but so far this has been a 10 star+ experience! THANK YOU!
Sandi W.Assistant Manager, HR
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Our Solutions to Common Payroll Challenges
Timekeeping and attendance
We offer a single system that tracks, manages, and processes employees’ time and attendance data. It includes features that prevent buddy punching, manage overtime hours, enable easier scheduling, provide detailed reporting, and ensure compliance with payroll tax laws, FLSA overtime, and ACA.
Adapting to dynamic workforce needs
Enterprise HR software and enterprise payroll should be adaptable to changes in workforce – not only by being scalable, but by offering a wide variety of features and robust support. Our clients receive support from our dedicated team members, whether it’s for HR management, the payroll process, or anything in between. Our clients’ employees can take advantage of the isolved Learn & Grow University interface, a Learning Management System (LMS) that gives them access to relevant certifications, courses, and even quizzes.
Ensuring pay transparency
We make sure that both employers and employees can access payroll data 24/7 from our secure cloud servers, with over 300 standard reports available for employers. Enterprise payroll records can be accessed from user-friendly dashboards, without the need for specialized software. Employees can onboard themselves, view their own HR and payroll data, and update their information as needed.
Integrating payroll with overall HR processes
Increased efficiency and reducing administrative stress
When they’re done in-house, enterprise payroll and HR management are usually time-consuming – especially when they’re done separately. However, when they’re integrated and processed with the help of an expert third party, this relieves accounting and HR teams from busywork like data entry, and lets them pursue more strategically valuable projects.
Seamless integration for HR management
Given the amount of overlap between enterprise payroll services and HR software for large companies, it makes sense that there are plenty of ways to integrate payroll into broader HR processes. For example, both the payroll process and HR management administrate fringe benefits like healthcare insurance, vacation leave, or advanced training for employees. When the two are combined, the administrative burden is decreased and the overall process is more likely to go smoothly.
Ensuring legal compliance
Federal and state tax laws require expertise to navigate, with tax compliance being a key responsibility for both accounting and HR departments. In-house teams can maintain compliance, but they generally have a higher risk of human error as well. Integrating payroll and HR with software like isolved can lower the risk of mistakes, ensuring compliance with tax regulations.
FAQs for Enterprise Payroll
What is enterprise payroll?
Enterprise payroll is a service that large companies use to administrate payroll; in some cases, HR functions are integrated as well. It’s often provided by an experienced third party, allowing in-house HR and payroll teams to focus more on strategy, and less on day-to-day administrative tasks. The main features of enterprise payroll include:
- Compliance with federal and state regulations
- Reduced labor costs due to automation of payroll processes
- Automated benefits and compensation administration
- Fewer errors
- Advanced reporting and analytics capabilities
- Cutting-edge security measures that safeguard company and employee data
- Prompt updates for regulatory changes
- User-friendly self-service portals for employees
How can I switch payroll providers?
Switching payroll providers may sound like a laborious process, but it doesn’t have to be. Of course, the process does need to be carefully planned, but a payroll provider like Thread can help your business make the switch with minimum hassle. If you’re changing payroll providers, it’s important to make sure that they meet the following requirements:
- They know tax laws inside and out
- They have strong security measures in place to protect business and employee data
- They have years of experience in enterprise payroll software for large companies
- They provide personalized service for each client
- They have a solid history of satisfied clients
Payroll providers like Thread will take on as much of the workload as possible when you’re switching providers, both to reduce administrative workload and to ensure that no detail is overlooked. They’ll help you formulate a plan for the transition, including when and how to migrate relevant data, when to inform employees of the switch, and when the next payroll is due. As long as you’ve chosen a client-oriented payroll provider with years of experience, the process of changing providers can be done with as little disruption as possible.
Why do businesses outsource payroll?
Payroll is typically outsourced when it becomes more cost-effective than hiring additional team members to process payroll in-house. Compliance is also a factor, since enterprise payroll firms are experts in following every applicable regulation – and in keeping up with new ones. Outsourcing payroll also gives companies access to advanced features such as HR integration, employee self-service portals, reporting and analytics, benefits administration, and more. In other words, businesses outsource payroll because it increases efficiency, reduces risk, and elevates employee fulfillment.
Does payroll software integrate with HR systems?
Not all payroll software integrates with HR systems, but it certainly can when it’s designed to. It’s especially useful to integrate enterprise payroll software for large companies with enterprise HR software, as this can have multiple benefits for the company. Some payroll software can be adapted to integrate with enterprise HR software, but the ideal combination is when both of these systems were designed to integrate from the beginning.
What are the benefits of integrating HR with enterprise payroll?
There are many benefits to integrating HR with enterprise payroll solutions, and quite a few of them stem from the fact that this integration merges the two systems into one. As an example, maintaining one system requires less time, and lowers the probability of mistakes being made. This makes it easier to maintain compliance, and also reduces administration costs. Employers aren’t the only ones who directly benefit from integrated payroll and HR systems; employees do as well. When the two systems are made available through a single self-service portal, employees can access their payroll data, benefits, vacation or sick leave usage, and other details, leading to greater transparency and improved satisfaction.
What should I look for in a payroll provider?
Any company that’s looking for a payroll provider will have its own specific needs; one may want a strong emphasis on customer service, while another might be more interested in the provider’s certifications and experience. However, there are several factors that every business should require from any enterprise payroll provider they consider.
- An experienced team with relevant certifications
- The ability to scale up or down as each client requires
- Integration of enterprise payroll and enterprise HR software
- Intuitive interfaces for businesses and their employees
- Employee self-service capabilities
- A strong track record of happy clients
- Software and services that provide all the necessary features, plus optional features that would be useful to your company
- Transparency regarding payroll processes, tax compliance, security measures, available features, etc.
- An emphasis on personalized support