As a smart business owner, are you required to have HR and payroll software? Are you willing to take the risk of doing HR and payroll processes manually? Do thriving companies utilize upgraded HR and payroll system? Are you still skeptical or you still don’t see the value of using a cloud-based payroll system? These are questions that make you think of what an upgraded HR and Payroll System can do for your business.
Manual processing of payroll nowadays can be very tedious as you grow your company. Doing manual computation might not only compromise your timekeeping and payroll data but also requires more time to process payroll. Thanks to technology solutions like Eversun HRMS, finally developed to make the lives of our HR professionals and payroll processors a whole lot easier.
Nowadays, more and more businesses are leveraging payroll processing technology as a critical part of their business success.
5 Reasons Why Successful Companies Automate HR and Payroll Processes
Thus, we are sharing five (5) key reasons why successful companies are automating their HR and payroll processes.
Data Accuracy.
Do you want to do it manually that will not cost much? But suffer from errors and will consume more processing time? Or invest in a secured cloud-based system that will lessen the time and mitigate miscalculations. The payroll system can generate your reports anytime and finish payroll output before your deadline for further validation.
By using basic payroll data, data on attendance, and hours worked, payroll systems can provide a wealth of accurate reports. This allows in-depth analysis of workforce costs for the business as a whole, across departments, and even for individual employees.
Government Compliance.
Reduce your burden of compliance by subscribing to a payroll system. A Payroll system will lessen your burden in the latest update on the Philippine Government i.e. TRAIN Law of BIR, DOLE compliance, government statutory contributions, etc. You don’t have to worry about being compliant because our system is coded with parameters localized to Philippines labor scenarios.
Security and Confidentiality.
Maintain confidentiality in a secured cloud-based system. Timekeeping devices and the timekeeping module are integrated with the payroll module. This allows you to automatically transfer information about paid hours worked into the payroll system. Then making payroll calculations are much simpler and more secure.
Cost and Time Efficiency.
You can work out payroll calculations, deductions, bonuses, holiday pay, etc. quicker and with minimum effort. Manual computation of payroll will result in extended hours in the office. Using a payroll system will lessen your overtime and you can enjoy a work-life balance.
Administrators could spend hours of overtime and sometimes use up their rest days, so they make sure that the workers get their pay on time if they were able to make it. Therefore, with a payroll system, working for extended hours becomes unnecessary.
Employee Engagement.
Not many realize that having smooth payroll processing heavily impacts a happy workforce. For one, timely and proper payroll processes contribute greatly to keeping the workers satisfied with the company, so this could translate to lesser attrition.
Another reason is that it avoids non-compliance issues that may arise from paying the workers late (violates the labor code) or paying the wrong withholding tax (sanctions with the Bureau of Internal Revenues).
Are you worried about being left behind with payroll technology? EversunHR provides innovative end-to-end payroll solutions. The right payroll system could streamline your processes, then helps maintain a happy workforce, and avoid pesky violations of the law.
From digitized employee records, timekeeping data to payroll processing up to online payslip distribution, EversunHR gives you the means to catch up and surpass your competitors.
We are always open for full-system demos! Send an email to customer.success@agentsofvalue.com.
