Why cloud payroll solution is the need of the hour?
Every business whether a start-up or an established firm shares a common objective i.e. a burning desire for having agility and efficiency across all crucial business operations. Agility and efficiency in business operations act as the driving force for steadfast growth.
Human resources management is one such key business operation that needs to be dealt with utmost diligence, care and accuracy. HR personnel administer employee engagement, retention, recruitment, training, payroll, employee information management, filing TDS, tax returns and much more. Since employees form the most important assets for a business, proper human resources management becomes mandatory failing to do so will only unleash havoc.
So can a traditional HR payroll software address the various problems faced by HR department? No it can’t, because a traditional software requires too much of manual entries making it a nightmare for HR personnel.
This is the reason why business managers and entrepreneurs are shifting to cloud payroll solution to get rid of payroll redundancies and inconsistencies.
This article will throw light on why cloud-based payroll management software is the need of the hour.
Since cloud payroll solution offers excellent automation capabilities, you save a good amount of money and resources. Bid farewell to painstaking manual computations of payroll, tax, TDS, incentives, etc. With formula based and intelligent calculations for earnings and deductions, payroll processing is a piece of cake.
• Instant access to critical HR & Payroll data
Since all your HR data is stored securely on the cloud, HR personnel get instant access to all the required data on the run 24×7. On the other hand, cloud HR payroll software offers employee self service portal enabling employees to view, update and modify their personal details so that your HR staff doesn’t have to. Employees get the liberty to apply for leaves, check leaves balance, download payslips and a lot more without the need to disturbing HR folks. Did I mention about employee empowerment …!
• Cloud based attendance, leave and time management
Errors in leave and attendance management lead to inaccuracies in payroll calculation thus, irking employees. With cloud based attendance and time tracking, you no more need to fret about inaccuracies in payroll calculations. Simplify muster roll with cloud based payroll management software.
• Seamless communication
Cloud payroll solution offers a single and unified platform to trigger emails on the run. Shoot payslips, TDS reports, and all other crucial HR reports on the go.
• Multi-location support
For a business with offices at multiple locations, processing payroll and other critical HR tasks often turns a bit tricky. However, cloud-centric HR payroll software addresses this pain-point effectively, as it supports multi-location and users. So managing and processing payroll for multiple office locations is just a few clicks away. Payroll anytime, anywhere and through any device.
• Go paperless
With cloud based payroll management software, payroll processing and bookkeeping turns paperless and hassle-free saving you time and money. Most importantly, going paperless means you contribute towards the environment by reducing carbon footprint.
• Assured data recovery
You certainly won’t risk losing all your HR data because of a natural disaster or technical breakdown. Moving your payroll to cloud is the smartest decision you can take here to avoid such a nightmare.
Today, smart computing is not just confined to using different computing solutions alone. In fact, it is all about cloud computing, a rapidly emerging trend deemed to take businesses by storm in years to come. Payroll is not an exception and thus, cloud payroll solution has become the need of the hour.
Opinions expressed in this article are those of the author and not of The HR Gazette or its team members.