The HR department has a number of important responsibilities for any organization. One such important responsibility is the task of ensuring that timely payments are made to the employees. With the growth of an organization, it becomes a challenge to maintain the payroll cycle of an employee.
Many employees are involved with an organization and therefore it will get difficult at times to manually maintain the leaves, attendance, expenses, reimbursements, and deductions.
Additionally, if you are responsible for a business in the UAE it becomes even more laborious to run payroll based on the labor laws, policies, and compliances of the country. This is the reason major organizations in the UAE rely on payroll software.
A payroll software ensures that the entire process of calculating and disbursing salaries is automated for the organizations of UAE. The software automatically calculates the attendance, leaves, taxes, deductions, and overtime.
This ensures that the HR is able to cut down on manual paperwork which ensures less error while computing salaries. With the use of technology in the UAE, more businesses are opting for payroll software to avoid all sorts of legal compliances while keeping employees happy with the timely disbursement of salaries.
If you are still not sure about the necessity of payroll software, the following are the benefits of the software for your business.
Top Benefits of Payroll Software:
Time and cost-efficient: Manually processing payroll-related tasks is time-consuming as well as subject to inefficiencies. Payroll software will automate manual tasks such as computing salary, deducting taxes, and producing reports will save time for the HR of the organization.
This ensures that HR is able to focus on more productive initiatives rather than spending time on mundane and time-consuming tasks. Such an enhanced efficiency ensures that fewer resources are needed for handling payroll processing thereby saving costs for the organization.
Trustworthy and precise calculations: Payroll software automatically calculates the deductions and wages of the employees. The application reduces manual intervention which reduces the chances of human errors and saves time in the process. All the vital and relevant information such as attendance and working hours are accumulated and stored by the software. It produces accurate and precise computations for all payments of employees that are timely and accurate.
Compliance: Payroll processing includes complicated calculations and conformance to the regulations and labor laws of the country. Most organizations want to stay compliant as any mistake with compliance can lead to unnecessary expenses for the company.
Such a complicated process is automated by the payroll software which diminishes the risk of errors and ensures adherence to the intricate tax and payroll requirements of the UAE. This reduces the chances of cost penalties in the event of non-compliance and saves time.
If you obtain Payroll Software in UAE, you can get customer support constantly. All your concerns and queries will be solved by them while reducing all of your business related complexities.
Confidentiality and data security: At the time of handling sensitive information related to payroll, two primary factors must be considered, which are security and confidentiality. Data breaches and cyber threats have increased in the latest years and so it has become more than a necessity to guard sensitive information.
Payroll software provides various security measures that include access controls, regular backups, and encryption which provides protection to data from loss or unauthorized access. This ensures that the employees of your organization are confident regarding the privacy and security of their financial data.
Such software also adheres to the standards of compliance and best practices of the industry and therefore peace of mind is ensured on the part of the owner when there is no chance of security breaches and loss of information.
Employee self-service option: When such software is used, it ensures that your employees do not need to go to the manager or the HR individual every time they need to access information related to payroll.
The software comes with a self-service option which gives the freedom to employees to have access to their information. The employees also have the provision of updating any information about contact information or opt for online reimbursements.
They also have the choice of applying for time off and submitting timesheets by themselves. Such an initiative helps the administrators to a great extent by reducing their burden.
Automated notifications: The payroll software has the ability to send reminders to both managers and employees based on the required scenario. For example, it can remind the managers at the appropriate time to run the payroll and remind the employees to fill up their timesheets if they forget. The software can also notify if there are any changes in the salary and compensation of the employees. This feature provides real-time communication, diminishes forgetfulness, and provides information to every party.
Accuracy: Accounting errors are not always avoidable at the time of calculating salary, taxes, and deductions manually. This is diminished when there is the use of payroll software. The software keeps records of payouts, deductions, and taxes of the previous month hence ensuring accuracy. The employees can have access to the payslips which instills a sense of transparency.
Scalability: With the growth of an organization, the needs of payroll changes. Scalability can be obtained easily by using payroll software. The application adjusts to the changing needs of the organization while adhering to efficiency when expanding into new markets, hiring new employees, or diversifying business operations.
Challenges of managing payroll will not pose a threat to your firm when expanding because of the scalability feature of the application.
Attendance tracking: Based on the working hours of employees, payroll is calculated and therefore any small mistake in calculating the correct working hours of employees might lead to miscalculations and inaccurate payments. However, this can be resolved with the implementation of payroll software which keeps track of working hours, overtime, leaves, reimbursement claims, and days off at the time of calculating salaries.
Increased employee retention: Any sort of issues with the disbursement of salary becomes the main reason behind employee frustration. Employee morale is affected to a great extent when there is a delay or error at the time of salary payment.
These issues are easily fixed with the use of payroll software. The Cloud Payroll Software of UAE ensures that there is no fault on the part of the management at the time of disbursing salaries to the employees. This leads to the satisfaction of employees which leads to higher retention rates.
Seamless integration: Integration with other HR systems is seamless. Systems such as leave management, attendance tracking, and employee databases improve the overall efficiency of payroll software. Such integration enables avoiding data silos, reduces any duplication of tasks, and ensures a complete view of the management with informed decision-making.
To conclude, if you aim to optimize HR operations it would be a necessity to invest in software that is customized for the UAE market. When most of the manual tasks such as tax calculation, payslip generation, and data entry are automated, it saves time for the organization. Employees and managers can conveniently have access to payroll information on the go while using this software, which has several benefits that affect the accuracy and efficiency of managing employee contributions and related activities.
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 HR & Payroll for D365 Business Central 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
