THE IMPACT OF ACCOUNTING SOFTWAREON BUSINESS PERFORMANCE
WHAT IS BUSINESS PERFORMANCE? Business performance includes expenses, schedules, quality, and profitability.…
Not all companies have a working payroll system, and that’s one of the reasons challenges in employee relations arise, leading to intentional and unintentional human error. This is also because most small businesses have second thoughts on adopting new software due to the upfront cost of setting it up.
However, sticking to manual payroll management system is both time-consuming and inaccurate. This process will eventually decrease employee morale as payments are delayed and financial discrepancies are evident. With a cloud-based payroll system set up for your organization, this scenario can be avoided. Integrating cloud in your payroll management ensures timely payment and a hassle-free experience, simplifying things for your HR department.
One of the benefits of a payroll system, when it is cloud-based, is better accessibility. This might be the most significant advantage of integrating cloud in payroll processing since almost every company of any size, is embracing the work-from-home setup while the world is battling against the pandemic. The general problem of a payroll system that is being locally stored, is the staff cannot easily access the data when they are not in the office, causing delays in the processing.
The cloud-based technology of easyHR which includes features of payroll management system such as overtime, tardiness, and automated DTR (Daily Time Record) computation, makes HR team life easier as it is also capable of managing multiple offices and branches effectively.
A payroll system is not just about calculating employee’s paychecks. Without an organized and unified safekeeping of employee records in a central repository right from the employee’s first day of work, chances are it can affect the paychecks’ accuracy. A typo error or forgotten Date of Joining, for example, might result in an employee losing a whole day’s pay. This is a compliance nightmare for the employer.
EasyHR system provides an online and real-time Employee 201 file and other employee records for easy tracking and management of all employee-related information such as onboarding, benefits, salary revisions, leaves, absences, and all communications.
The cloud-based payroll system allows the company to integrate any compliance changes. The easyHR payroll computation has included the Philippine Statutory and Mandatory Deductions which lets the HR team easily comply with the various regulatory laws such as SSS, Philhealth, HDMF, and withholding tax deductions.
Bi-monthly or monthly, the strenuous task of maintaining personnel records, collecting proofs, and authenticating provided proofs takes up a significant portion of every HR’s work. Furthermore, replying to clarifying inquiries via back-and-forth emails takes a long time that can also cause delays and stress for the payroll staff. Cloud-based payroll system easyHR helps the HR team reduced the workload through robust record-keeping and reporting.
For organizations that are still operating remotely, including the payroll department, a cloud-based payroll system is a huge help. It enables employees to operate from any location while still having access to the same information as they would in their office. All of this is done while assuring secure payroll transactions and data management using fine-grained security rules that prevent data breaches and unauthorized access.