Next Level Payroll Management System Put simply, a payroll management system is the process by which employers pay wages to their employees. It’s also how they demonstrate their commitment to their workers, fulfill their obligations to government agencies and keep financial records in order. Why is payroll management important? Payroll management is an important part of any business because it helps improve employee engagement and regulatory compliance. Without an efficient, accurate means of paying employees, depositing and filing taxes, and maintaining records, employers could face wage claims and expensive penalties. Methods of payroll management? Manual payroll management using spreadsheets Employers with a few employees may opt to manage payroll using a manual method, such as spreadsheets. The potential cost savings, however, are usually outweighed by the pitfalls. Manual DIY processes increase the risk of costly mistakes and t...