If we were to ask any successful modern businessperson about the biggest assets of the organisation, chances are that the answer would be, “the people.”
In the 21st century, it is the talent of an organisation’s workforce and its commitment to their job that reigns supreme and eventually creates market leadership for it. There is a strong competition in almost every field of business and digital technology is coming across as a key enabler in resolving employees’ problems. This is where a world-class payroll software is one of the must-have tools for any Australian company irrespective of its size, scale of operations or location.
If you have been thinking that a high-quality payroll software is not for you because you are a budget-conscious SME or a large organisation with a sizeable payroll team in place, think again.
You would have already experienced a number of payroll related challenges. To begin with, payroll management is a repetitive, nearly mechanical yet time-consuming process. There is always the risk of an error here and an omission there. However, as any HR person would agree, each time there is a payroll error, it causes a lot of frustration for the affected employee and additional work for the payroll team. This directly affects employee delight and if it happens regularly, you might see employees becoming demotivated and even leave.
The challenges have been made more formidable by the pandemic as people are working remotely and you have to track everyone’s timesheets and other data to ensure you are paying the right amount at the right time, every month.
On the other hand if you opt for a cloud payroll software or payroll outsourcing, you would face no such issues. Leading payroll software providers in Australia are well versed with the challenges faced by the payroll managers and integrate latest technologies such as AI, automation, IoT, Data analytics etc., to provide an end-to-end advancement of the payroll operations.
By switching to a cloud payroll software, you would be able to manage the payroll operations for all your employees, irrespective of their locations via a single dashboard. For leading Australian companies that have overseas operations as well, cloud-based payroll software is of even greater essence. Whether an employee is in China, Japan, New Zealand, India, or any other country in the Asia/APAC region.
A major advantage of cloud payroll software is that it can be easily deployed and integrated with various other software and operating systems. You don’t need any additional specialised hardware to run it. Further, a leading payroll software would also offer an integrated self-service portal and a smartphone app option that would allow your employees to access it from anywhere and review their data.
Tasks like applying for a leave, checking expenses, submitting documents, updating information, or generating salary slips, etc can be handled by employees on their own and various routine calculations get automated. Thus, there is less workload for HR to deal with and far greater accuracy as well as ease of access for the employees.
In case your focus is on enhancing employee experience alongside getting rid of payroll problems, then the best option for you would be to opt for payroll outsourcing. A great payroll services provider will offer you best-in-class solutions and experiences whether you manage payroll in-house or outsource it.
I am Tristan who loves to ride and spend time with my jenny (horse) and my love Mark. After completing my graduation, I have been working as an accountant in a private firm in Cologne.