Long gone are days where you are required to perform hectic data entry tasks or activities & manually track all the staff or employee pay & leave dates.
Just imagine if you had to still calculate & keep track of their number of leaves through excel sheet and filing system – would not it be a real headache for you?
When such activities are conducted manually things usually get very messy & no amount of patience can assist you through it.
Processing of payroll is a crucial function of the Human Resource department of the workforce. Owing to the advancement in technology, it is now much simpler to manage the employee payment with cloud software.
This system is used by numerous small as well as medium enterprises in UAE involving payroll outsourcing business. This allows them to cater better services for their customers.
Before getting into this comprehensive summary in regard to the advantages of cloud based payroll software, let us explore what is cloud based payroll software and how it works.
What is a cloud based payroll software?
Cloud is a term used for the computer servers that are stored on the internet rather than on physical servers. A cloud based system is a very popular choice and involves various kinds of software including the cloud payroll system.
In the course of COVID 19 event, it assisted the HR team to process the payroll anytime & from anywhere, which ensured the employees received their pay cheque & claims within the right time.
A cloud based payroll software enables your business to record, manage & calculate the payroll info & process it securely on the online platform instead of depending on the computer’s hard drive.
This software is built to cater the businesses with an ideal payroll solution. It caters various features & unlimited advantages, which takes all the hassle out of payroll processes. Many offer 5 key modules. Each of the modules fits the basic needs for the companies. Such needs include:
- Profile & account set up for both the employees and company
- Perform payroll
- Manage the leave applications and status, entitlement and leave balances
- Claim the submission for the business allowances and expenses
- Payslip generation and payroll report
It is also a simpler way to auto calculate the pay deductions like SOCSO, EPF & tax deductions. Additionally, you can easily generate and send the electronic payslips to the employees even. All is possible just because of clouds. Read on to know the advantages of using cloud based payroll software:
Here are some benefits of cloud based payroll software:
Increasing number of business owners as well as companies are beginning to use cloud based payroll software because of their convenient features & ease of utilization.
Most of the cloud based payroll system functions are highly automated, which offers a seamless experience that helps you manage better the employee wages.
Zero printing, zero wasted paper, less admin work & also reduced manual reporting are required when using cloud based payroll systems.
It endows the employees, directors and HR managers with the flexibility to access portals remotely using any device from any location.
High accuracy in cloud based payroll software
Manual mistakes are unavoidable, particularly when you are performing a manual calculation of salary or tax deductions. However, when it is about matters like employee’s pay & making sure of employees correct payment of the salaries each month, note that accuracy is the key.
Those employees who get paid within time have higher respect for the organization.
Cloud based payroll system is a reliable medium to perform the payroll as it accurately calculates the employees salaries basis their working hours.
It easily can even auto count the salary & add pay increments owing to bonus, auto deducted pay because of unpaid leaves etc.
When efficiency is concerned, a cloud based payroll system is sure not to turn you down.
Moreover, cloud based payroll systems operate in an efficient manner determining accuracy of the income calculations as compared to other payroll solution forms.
Just by using cloud based payroll software, you can get most of the things done much faster and save on the organization’s crucial time in the long term.
This software efficiently automates the payment calculations and makes sure that the staff or employees are paid on the right time of the month.
It even has a user friendly kind of format that makes sure that employees can easily check the leave balances & apply for as well as edit leave applications on the online medium.
Also, the final management approval can be performed faster & efficiently.
With this software, companies can generate all kinds of forms for the submission of those contributions that are statutory such as EIS, EPF, PCB tax and SOCSO each month just by using a cloud based payroll system.
Saves your money with the cloud based payroll software
With cloud based payroll software companies can prevent themselves from spending a lot of money as they do not require hiring costly full time employees dedicated to the management of payroll.
Moreover, most of the cloud based payroll systems are user friendly & are simple to learn, thus you will not require spending much time training your employees on how to use such software. It even allows the business to concentrate on other things such as digital marketing training.
Additionally, you will also save on the maintenance costs as the cloud payroll system lowers the IT charges that normally come with the on site payroll software using the physical server.
Thus, you will not require a team of expert IT team to update the software when their updates are available as such software ensures to automatically update themselves through the software houses.
As with software installation, it is pretty easy to launch them. For any problem, you can simply contact the customer care support unit.
Pricing of the cloud based payroll system is affordable and flexible as their monthly software subscription expense gets calculated based on the staff number in the organization. Moreover, you have the freedom to unsubscribe it anytime as you are not bound to any fixed contract.
Cloud based payroll software evolves with your organization
What if you are a small business head with just a few employees but you are planning to get the business in the upcoming future.
However, you are unsure as to when. See you have already applied for the business loan at some banks, however these take enormous time.
Unlike other kinds of payroll software, cloud based software for payroll is advantageous as they make sure your organization growth is well supported.
It even offers you with the option to simply upgrade the system when you are ready based on the organizational requirements.
For those willing to grow their organization, retaining their talents is one of the factors that determine your triumph. Cloud based payroll systems play a crucial role in eliminating complex payroll procedures & policies, which can be the reason for enormous frustration.
Integration is the next added feature of the cloud based payroll system. It permits your cloud based payroll system to get integrated with various other cloud based systems seamlessly.
It is a complete business human resource solution. Know what are the cloud based systems that easily link with cloud based payroll systems?
Cloud based accounting system
Hiring and employment info, cash flow records, tax and salary details sync in with cloud based accounting systems. It makes it simpler for the accounting department to provide data for audits and make instant payments.
Cloud shift scheduling system
The software is well designed to efficiently manage the employee/staff shift rostering with zero requirement of the excel file.
Cloud time attendance system
It is designed for tracking the employee or staff working hours & overtime. Daily, weekly & monthly timesheet is recorded & synced with a cloud based payroll system to efficiently calculate the employee salary simply and easily every month.
Better security with the cloud based payroll software
Few companies hold the misconception that storing of data on the cloud based system is not secure. However, this is untrue.
Reality is, data stored on the cloud payroll system actually is much safer than storing it on any other platforms on site.
The cloud based system can prevent various ransomware computer attacks and even offer better protection as compared to the on site servers.
It is because the onsite servers are susceptible to natural disasters such as fires, technical problems like computer malfunctions etc.
Back up of info or data is automatic, thus the company can be assured it will always remain there.
Dynamo, is the perfect HR and Payroll solution that runs seamlessly inside Microsoft Dynamics 365 Finance and Operations suitable for all organization’s sizes
Dynamics Business Solutions (DBS) is a 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.