Cloud payroll software is basically a payroll management system where you can access control and operate everything related to your payroll. When it comes to running a business in GCC, you have to ensure that your employees are getting paid at the right time.
It will also help you retain employees as well as attract new talent. Gone are the days when only large organizations used to implement cloud-based payroll software. Now SMEs also implement the same for streamlined employee benefits.
Cloud-based payroll system is a massive support for employers who are operating from remote locations, including the payroll department. It allows staff to work from any location and have access to the same information from their office.
They insured the same while maintaining data with fine-grain security protocols. So if you have been worried about storing your data in the best ways, this is it.
A manual approach takes up a lot of time and often leads to unnecessary errors. However, payroll software takes care of everything without any errors.
Employees often tend to lose faith in companies that cannot pay their employees on time. They doubt the financial stability as well as the commitment of the organization and eventually leave.
If you want to increase the retention rate, then switching to payroll software might help. Moreover, your employees will be more engaged because they can check basic information such as their salary, reimbursements, bonuses, benefits and taxes just with the help of a click. An effective payroll software can bring all of these under one roof, making it so much simpler for you.
It solidifies the trust of employees in your organization. Since cloud payroll software comes with greater transparency, you should opt for it. Issues like overtime and taxation limits need to be included in every detail.
Choose a payroll software that empowers your staff to have access to critical information. From improving speed and accuracy to providing payroll data security and scalability options, there is so much a software offers.
The self-service portals give employees the freedom to access their information anywhere and at any time. Moreover, it is an environmentally conscious measure from your side. You can reduce your carbon footprint by opting for cloud-based software.
It prevents data breaches and unauthorised access. If you are still not sure about installing cloud-based payroll software, read the rest of this blog.
- Helps to save upfront costs: Embracing cloud-based payroll software frees companies from the complications of purchasing and upgrading legacy on-premise systems and maintaining them. It is a lot of headaches that you do not want when there are so many other things to take care of!
Regardless of the industrial size of your business, there is no capital expenditure. It is highly economical for you.
Setting up an entire IT department and paying a salary as well as providing other employee benefits can be really expensive, especially if you have just started.
Unlike legacy systems that require in-house work to get updates, cloud payroll systems are updated often and as required.
You do not need any implementation work from your internal IT team. You do not have to invest in servers and other hardware to run on-premises systems.
- Helping businesses to be faster and more efficient: Cloud-based payroll system makes your operation smoother and more efficient. If you are still stuck with slow, time-consuming systems from the past in this dynamic business landscape, then you need to upgrade yourself. The earlier systems are costly and resource-intensive. The best part about cloud payroll software is that it allows entrepreneurs to access their payroll information anywhere and at any time.
Since employees get faster responses, even they are contented with their company and how its payroll works.
- Centralised employee data: Believe it or not, payroll is way more than just calculating your employees’ paychecks. If you do not organise all your employee records in a central place, it can actually affect your paycheck’s accuracy. You can track and manage the information related to your employees with cloud payroll software. Some of the information includes onboarding salary revisions, leaves, benefits, investment declarations, etc.
Other advantages:
- Simplified compliance: Unlike traditional systems, cloud-based payroll software enables you to adapt to compliance changes in real-time. Keeping up with the changes in the compliance environment can be difficult. But at the same time, if you miss any, you might have to pay hefty penalties. Reduce risks of fines by one update to the central server. You can ensure that your business is compliant with all kinds of statutory compliance laws by switching to cloud payroll software.
- Reduced workload for payroll: Your payroll department will thank you for this change. Now they can focus on other important tasks rather than replying to employees and maintaining employee records. All these mundane tasks can be automated because employees can access their data from anywhere easily. Moreover, validating submitted proofs and collecting proofs also takes up a major chunk of time. Automating them frees up a lot of time for the HR team.
You can completely eradicate the hassle of back-and-forth emails with cloud-based payroll software.
- Real-time data: Real-time data can actually streamline operations as well as help you make important decisions. Cloud payroll software delivers information, and consolidates payroll metrics in real time without the requirement for different business intelligence systems, etc.
You can view everything in a single click. It simplifies payroll more than ever before.
- Unified business processes: Starting from your employees’ personal information and tax-related data to payslips and leave and attendance data, everything can be accumulated in the payroll system automatically. Integrating complicated business processes is much easier. A tightly integrated payroll and accounting system makes collaboration streamlined.
- Unified and simplified administrative tasks: If you want to opt for unified and simplified administrative tasks, then you should opt for cloud-based software. It makes integration so much more effortless and seamless. Moreover, cloud payroll software provides comprehensive reports and analytics. You can have access to real-time data easily.
Conclusion:
Thanks to modern-day technology, payroll software offers better reliability, privacy and security. It comes with faster returns and decreased expenses.
The benefits that cloud-based HRMS software offers are multiple and we promise you will not regret making this decision.
Cloud-based payroll systems provide end-to-end operations of an HR and enable them to focus on different business areas. Since your employees will get paid at the right time, they will feel valued.
Ensuring a smooth employee experience is one of your key roles – remember that your employees are assets. A late, inaccurate or faulty payroll can dampen the reputation of your company easily.
DynaPay Human Resources & Payroll solution for Dynamics 365 Business Central
DynaPay Human Resources & Payroll solution for Dynamics 365 Business Central is an all-in-one integrated package. It provides end-to-end solutions and automates the most complicated pay rule systems for seamless payroll processing. This helps in saving a lot of time and effort.
DynaPay-BC is a Payroll and HR Management System that provides employee records management, document management and payroll calculation. It is built inside Microsoft Dynamics 365 Business Central with the help of its native development tool AL.
It leverages the functionality of Dynamics 365 BC such as workflows and document attachments. DynaPay-BC is hosted on Microsoft Cloud, thus allowing HR personnel in more ways than one. Even employees gain access to the Employee Self Service system at any time, from any device.
Dynamics Business Solutions (DBS) is certified Microsoft Dynamics partner in UAE, we take pride in our ability to develop and deploy the right business solution that matches global client’s requirements. DBS has developed in-house state of the art solutions for HR and Payroll, Dynamo and DynaPay on top of Microsoft Dynamics 365 FO and Business Central respectively. These solutions are catering the all business needs of HR and Payroll departments. We provide best services and support to our clients.
To know more, speak to our expert at Dubai: +971 4 447 5525 Abu Dhabi: +971 2 222 2100 or inbox us your query at info@dynamics.ae OR visit www.dynamics.ae
