Using HCM To Maintain ACA Compliance
How Your Human Capital Management Software Helps Maintain Your ACA Compliance
Tired of trying to stay on top of ACA compliance regulations…only to have them change on you again? It’s a common issue for business owners in every industry and with every size organization. Every time you somehow manage to navigate through the ACA compliance mandates, the system evolves, leaving you wondering about successful next steps to pinpointing the total number of FTE (full-time equivalent) employees you currently have and which forms require completion when filing.
An HCM System Can Seamlessly Manage Your ACA Compliance Needs
Fortunately, simply hoping for the best with your ACA compliance does not have to be your only option. Many business owners are looking for outside assistance with their internal applications and systems. For these savvy entrepreneurs, tapping into the power of human capital management software can yield a major return on investment. A comprehensive HCM software solution will track a wide range of corporate entities such as:
- Identifying part-time and full-time employees based on the most recent ACA rules and regulations
- Managing all terminations throughout your organization
- Providing documentation needed for both part and full time employees when showing proof of your ACA compliance
What To Look For In Your HCM Provider
Once you understand the importance of housing your payroll and benefits data in the same place, it’s critical to find an HCM software provider that you can entrust with your business. This partner will have access to your most sensitive corporate and employee data; it’s crucial to perform due diligence throughout the search process to align your organization with a partner capable of meeting your needs. When sourcing a vendor, ask about their training capabilities and the ongoing support you’ll receive.
Additionally, never settle for a system that only offers “out of the box” functionality. Your business is a unique entity with specific needs; a qualified provider will have the insight needed to customize your human capital management software system to directly complement your distinctive requirements to ensure efficient compliance and optimal return on investment.
For more information, contact The Payroll Company today!