Preparing and managing payroll is a very meticulous task, and every detailed entry counts.
Do you know that even a minor error could cause eventful damages and can also cost a lot for the company?
Many companies would want to have total control of their finances and they would rather manage and do their own because the payroll system in the Philippines is technical and expensive.
Is the existing HR system really what they believe it to be?
While in-house payroll management is the most convenient thing and is the best way to be a hundred percent in control of your finances, there are many challenges in payroll processing that usually leave you defenseless and distraught.
These challenges are usually inevitable and make you think twice about your existing payroll system.
1. Manual Payroll System
Manual encoding and recording of data is boring, time-consuming and very much prone to errors.
Duplications and redundant entries can cause major mistakes in your payroll and bigger payroll problems could explode.
Not using any kind of software like HRIS software in the Philippines means that employee data cannot be kept and stored securely.
At the same time, computations and deductions cannot be calculated automatically, making every single step of payroll processing a thorn in the flesh for your HR team.
Manual processing cannot generate reports. Information and data cannot be shared within the system automatically as well.
On top of this, confidential payroll figures that are supposed to be confidential can also be easily leaked.
Now with this kind of predicament month in and month out, are you willing to keep going with manual payroll processing?
What is the best and most apt solution? Automation.
You need an HRIS software system in the Philippines that can solve these dilemmas and more!
2. Pilferage and Payroll Fraud
Do you know that payroll fraud happens in 27% of all businesses?
One commonality is that they do not have a payroll system in the Philippines that keeps the process safe, intact, and productive.
Payroll fraud can come in many forms like false wages, bloated commissions, ghost employees, buddy punching, and false insurance claims.
Payroll concerns like these happen when employees have access to confidential information and components of the payroll software or when there are no internal controls and safety measures in place.
What do you think is the solution? Stricter control, periodic payroll audits, stronger internal control, and most of all, the most effective solution to this challenge is a payroll software service provider that can offer the best and most secure service.
3. Non-compliance with government-mandated regulations
Compliance with government-mandated regulations for payroll is also a major challenge.
There are employees that tend to shy away from government agencies and try to get away from filing taxes accurately and on time.
Is it a lack of knowledge, negligence, or just downright tax evading?
At the end of the day, the company suffers and will pay penalties and can be legally sanctioned.
What should be the proper solution to this?
Employ the most qualified for the job of managing payroll with the right expertise on regulatory labor laws and taxation.
Better still, search for the best and most affordable payroll system in the Philippines.
4. Time Consuming and Boring
Payroll is time-consuming because of the minute details that you tend to focus on.
Big or small businesses alike still consume much time in handling payroll.
The time spent on the fine details of checking the accuracy of recorded hours, calculating salaries and deductions, and complying with government procedures—all these can be shortened.
And the rest of the hours can be utilized in strategizing and growing the business instead of doing this routine task.
The perfect solution to address this challenge is to search for payroll software Philippines provider.
This is the best approach to save time so as not to get bogged down with menial detail encoding.
5. Being updated
Sometimes when all you do is process payroll, you get to be left behind.
Not all HR staff in charge of doing payroll gets the chance to be updated on the latest taxes and legislations or the latest payroll software.
The updates are critical to payroll processing and not being in the loop can cause calculations errors and inaccurate filing of taxes.
The most practical solution is hire a Payroll Specialist or Generalist.
Or, get an HRIS software that can perform the task efficiently.
These many challenges in payroll processing can be addressed by perhaps the best possible solution – a payroll system in the Philippines that can systemize, automate, save time, maximize resources and minimize risks and cut down on errors.
EasyHR enables you to do all these! It enables you to make use of top-notch payroll software in the Philippines that can perform the following:
HR Automation
Save time and money by automating most of the HR tasks leaving you with more time to focus on strategic needs.
Robust Record-Keeping
Unify all the employee records in one system.
No need for all the different files and folders!
Multiple-Branch Friendly
Manage multiple offices and branches effectively with our cloud-based technology.
Get over those payroll challenges with EasyHR!
Book a free demo today and see how it works: https://human-incubator.com/easy-hr/
