How do you make strategic decisions that will positively impact profitability and increase your organization’s competitive advantage?
One area that companies overlook is labor costs which on average account for 25% of their cost structure. Detailed labor cost analysis is a cost-effective tool that can make an immediate impact and it does not require painful changes to your current processes. You can’t manage what you can’t measure. And if you can accurately measure your labor costs then you can quickly identify problem areas within your business. How much margin are we actually making per item with this product line? Are the smaller units actually generating higher margins? How is our margin impacted by the new employer taxes or company 401k contributions?
Good data and reporting help businesses fix problems, and spot opportunities.
With Primo Payday, you can leverage your existing Business Central solution to integrate labor costs with your item ledger which in turn facilitates a quick calculation of your Cost of Goods Sold.
Primo Payday is built-in Business Central, it is not a ‘bolt-on’ or 3rd party software that requires an import to Business Central. This means your payroll team works within your Business Central ERP and does not have to bounce between systems. More importantly, this means all of your labor costs are within your Business Central ERP solution which allows you to leverage popular Business Central features like Dimensions or the Business Central Jobs modules.
Primo Payday’s outsourcing service ‘Painless Payday Premium’ is an IRS authorized Electronic Return Originator. If you are a Business Central user who outsources payroll tax deposits and document filings, Primo Payday’s ‘Painless Pay Day Premium’ allows you to continue outsourcing payroll but with the added benefit of your payroll data being in Business Central. You get all the benefits of labor cost analysis without having to deal with payroll headaches.
If you are looking for a way to positively impact your organization both strategically and financially we welcome the opportunity to introduce you to Primo Payday.
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