These days many payroll solution providers are offering payroll automation and encourage companies to automate HR process in general as well. The concept of automating payroll is no longer becoming something new. Actually, digitise the manual HR process has been seen as a strategy to be competitive in the fast-changing economic condition. However, many SMEs still compute working hours, salary, and deduction manually. Because they may think that it will be cheaper than having computerised HR and payroll system.
Compare to the paper-based process, HR and payroll automation help to simplify and streamline the troublesome processes which often found in the day-to-day work of HR department, such as: documenting employee information, calculating payroll and tax, and record the time sheet or attendance. These tasks often take more time and effort to be done.
If you are one of the companies that still using the manual, paper-based process, this is the time you should migrate and invest your resource in the solution that save time and move your business forward.
Why migrate to Payroll system?
Here we listed 5 reasons why you should migrate to payroll automation.
Time is one of the important resources you can save when you automate payroll. Manual calculation and recording may seem cheaper but actually it cost company more in the long-term. Payroll software calculates automatically without any errors and also makes it possible to generate pay slip in an instant. Moreover, instead of pay attention to the tiny details of your calculation, you can free up your time to develop your product or business.
It doesn’t matter how busy you are, the access for documents and records such as employee payslip become easier. As long as you have internet connection on your device, payroll software via cloud will empowers you to access your attendance record, payslip, and even leave balance. As well as employee’s attendance record, access and generate employee payslip at any time, from anywhere, with any device.
Let’s say goodbye to overpayment, underpayment, and penalties!
Payroll software not only automatically calculate payroll, but also accurately calculate payroll, tax deduction, add exemption, and significantly reduce human errors in calculating payroll and its impact on business such as penalties.
In the old, paper-based process, HR personnel may needs more time to finish payroll because he/she encountered some errors and need to re-do the process. This often cause a late payment or even penalties when the amount was not calculated correctly. The payment for penalties will add more cost for company that can be used for another purpose.
Payroll system enables role-based access where you can activate permission settings for different employee level on your company. For example: managers may have access to their teams’ payslip while employees only able to see their own payslip.
Secure Data Storage
Computerized payroll system not only calculate your payroll, but it also allows you to safely store your data in the cloud system. As the data is digitized, you need less paper or even no paper on doing task like recording employee information. It reduces the redundancy when doing the task and ensure the confidentiality of the payroll data.
Using payroll automation not only make the process simpler, easier, and quicker. It also ensure that your data is calculated accurately. Payroll automation system reduce errors that can cause more time spent on the process and ensure that the data is safely stored. You only need to make sure that the person in charge is capable enough to understand the payroll and tax policy to be able to check what data need to be added.
Contact us to learn more about payroll automation system, and get ready to scale up your business. HRMLabs is part of Productivity Solutions Grant (PSG), so that local SMEs will receive funding support from government, by using digital solution.