Is your payroll software like an unwieldy piece of furniture- not the most comfortable to use but too heavy to move? Or is it a huge liability to your business?
You cannot hope to run a business successfully if your payroll is riddled with holes. It is what keeps the employees working and the business humming along. Maybe that’s why companies tolerate persistent problems with their payroll software or endure the system’s whims and fancies because they think that change is hard. But if your payroll technology is holding you back, you’re the one who ends up losing.
Lucky for you, it’s easy to tell when it’s time to look for a better Payroll solution. Here’s how you can assess your current payroll system and conclude that it’s time to go for a change.
Is It time to find a new Payroll provider?
A typical Payroll management system runs on 5 gears or data inputs:
- New joiners
- Monthly incentives
If these inputs are not captured accurately and completely, your Payroll is processed inaccurately and you have an inefficient payroll engine. Here’s how you will know:
- Your Payroll team is frustrated with manual, repetitive processing.
- You have to process too many off-cycle paychecks.
- There is always a hold upon finalizing attendance and leave data (because your excel sheets are not maintained properly, Biometric glitches, etc.)
- You are facing compliance and filing issues.
- You don’t get customer support from your current vendor or Internal technology team.
This is where you need to consider a smart payroll solution on the cloud, which will cater to all these concerns.
The most suitable option is to identify an integrated workforce management system that automates and unifies your HR workflow with single sign-on. The platform tracks the process right from recruiting and onboarding new hires to benefits enrollment to performance management to time and attendance tracking and onward to payroll. This means your HR staff will save an enormous amount of time (no more inputting data again and again in different systems!) while avoiding the errors that unavoidably follow manual activities.
Going with an Integrated workforce cloud solution will help your organization stay abreast of the latest technology and security measures to keep your data safe and your employees happy. Transitioning to such a platform is much more simple than one would think. A comprehensive, automated solution for payroll processing like what PeopleStrong Alt offers, will shave off almost 25% of payroll processing time. Imagine the change in your HR team’s morale when they realize they have so much more time to manage other critical processes instead of being stuck in mindless drudgery. Pre-formatted templates and forms will make sure your data is easy to retrieve to generate more than 500 types of flexible reports.
The ease of using a cloud-based system is unparalleled because it allows you 24 hours of encrypted access. It also offers role-based access to the team managers so employees needn’t plan a trip to HR every time they have a query. For the employees, to be able to access their own information whenever they want will be a huge motivation and incentive to perform better, because, in their minds, the company cares about them enough to make such an employee-focused investment. Just two taps on the mobile app and they can get their own salary slips, or another 2 taps and they can see their Leaves and Attendance status.
Employee productivity and organization effectiveness are two sides of the same coin. For a company to grow, its employees must be in sync with the goals and objectives, which they cannot be if the firm doesn’t give them the resources to be so. An automated payroll processing is not just a critical tool to help employee efficiency, but it also an extremely powerful implement that can tangibly nudge the company’s fortunes out of the bracket. HR Cloud solutions are here to stay and prosper.
Payroll and HR are at the core of every organization. With a new-age workforce distributed across geographies, organizations are grappling with multiple online payroll processes, numerous pay-components, and inconsistent payroll software.
Alt Payroll provides an intelligent payroll management system for building smarter workplaces. Get in touch with our payroll and compliance executive to know more about Alt Payroll and how we can manage your payroll better.