Most SMEs handle their own payroll. And the main reason is that they can actually take it upon themselves without having to hire a big HR team or employ a payroll system. But for businesses who use a payroll software system and handle their own payroll runs, there are about two types of solutions to choose from namely on-premise and cloud payroll software. Both platforms are designed to both streamline and automate payroll processes while ensuring accuracy, efficiency, and on-time payments.
However, there is a great disparity between these two types of payroll software programs. While both have their own pros, they also have their respective cons that if left unchecked, could render them inefficient, ineffective, and unreliable.
Admittedly, this is especially true in the case of on-premise payroll software. It has become inefficient and irrelevant as cloud payroll software for SMEs has invaded industries as a whole. And when you consider the payroll software cost, on-premise applications come with huge upfront fees, making them unpopular among SMEs that lack the cash flow to purchase such capital intensive business tools.
So, which one is the best for SMEs? No doubt, it is a cloud payroll software for SMEs.
Are you considering the final move to an online payroll for SMEs? Well, you have thought well enough and you are not alone. More and more companies are switching from on-premise HR applications to cloud payroll software for SMEs. If your company is not yet fully and totally sold to the idea of an online payroll system for SMEs, then here are some points to ponder why you should now switch to cloud payroll software for SMEs.
1. A Switch to Cloud Payroll Software for SMEs Can Improve Speed and Accuracy
Employees need to be paid on time. And correctly without fail. Yet for many HR and payroll departments, running payroll can be tedious and always in a rush, sometimes resulting in errors and inconsistencies in time and attendance as well as final pay computation.
Cloud payroll software for SMEs is designed to make payroll crunch time easier and quicker. Most of the online payroll software features an efficient, friendly, intuitive user interface and straightforward navigation.
And most of all, cloud payroll software for SMEs’ functions are automated, eliminating the need for manual calculations, reducing the errors, redundancies, and workarounds that plague employers still wrestling with the antiquated way of doing things using on-premise payroll software.
2. A Switch to Cloud Payroll Software for SMEs Can Provide Mobile Accessibility
After the pandemic, everything has changed. Many have learned to work from home and online. These days, the real work often gets done outside of the office and right into the homes of many. One of the many advantages of cloud payroll software for SMEs is that HR managers and staff can actually process and approve payroll from any device at any time of day and from wherever they are for as long as they have an internet connection.
This is especially beneficial for businesses with different branches in multiple locations, and even businesses with many branches across multiple time zones. Many managers who are out in the field can check and evaluate as well as approve time cards, and also respond to certain requests right from their smartphones or tablets.
Many employers do not trust the system and some worry about the security of cloud payroll software for SMEs. But it is entirely safe in the cloud. The cloud is generally much safer than data stored on-premise. When your sensitive payroll data is stored in on-premise servers, it becomes vulnerable to certain disasters and acts of God like fire, earthquakes, theft, and even major technology outages.
Providers of cloud payroll for SMEs take time to invest in enormous resources in data and infrastructure security. In addition, the data is encrypted and meticulously backed up offsite.
4. A Switch to Cloud Payroll Software for SMEs Is Scalable to Your Business
Compared to on-premise payroll software, cloud payroll software for SMEs is scalable. If there are times that the workforce may adjust to seasonal and fluctuating requirements for the workforce, being scalable is a great advantage. With this, there is no need anymore to be affected by growing numbers in manpower or perhaps paying for more than what you need. With cloud payroll software for SMEs, you typically pay only for the capacity you use during a particular billing period.
5. A Switch to Cloud Payroll Software for SMEs Offer Employee Self-Service Portals
Self-service portals for employees provide significant benefits to just about everyone within an organization. Self-service portals give employees anywhere, anytime access to their HR and payroll information. This empowers them and gives them a place in the workplace. It also frees up managers and HR staff some time to do more important aspects at work than just replying and working on employees’ requests.
If there are lesser servers to maintain, there is less energy used. This reduces carbon footprint hence, having a cloud payroll software helps save the environment. There is no more paper wastage because all data is in the cloud.
Switch to cloud payroll software for SMEs now! As a business owner, you know that managing payroll and HR tasks can be time-consuming and overwhelming. But with EasyHR’s cloud payroll software for SMEs and HRIS software, you can automate these processes and focus on what really matters – growing your business.
EasyHR is designed specifically for small and medium-sized enterprises (SMEs) in the Philippines. Its cloud-based payroll HRIS system is intuitive, user-friendly, and accessible from anywhere with an internet connection. Plus, it’s affordable and customizable to suit your unique business needs. For a free demo, you can check this link: https://human-incubator.com/easy-hr/
