Every company, be it small or large, should do everything to evolve in today’s corporate world.
It is no news that more and more organizations are relying on automated technologies lately. When we talk about automated solutions, payroll software needs no special introduction.
For the uninitiated, payroll software is a tool used to automate, streamline, and optimize HR processes.
Although a good number of businesses have already switched to such systems, many employers are still hesitant to shift to payroll automation. This is certainly due to a host of baseless myths!
Without any further ado, let’s dig deeper and talk about the top five myths about the payroll management system.
This is one of the very first myths that is keeping most organizations away from payroll software.
It is completely false that a person should have IT knowledge or qualification.
A payroll management system is just like any other consumer-grade technologies like Facebook, Instagram, etc, you use in your day-to-day life.
Payroll systems like UBS thrive to offer a user-friendly and simplistic platform, that can be used by anyone and everyone with ease.
This is the second reason why many companies do not invest in payroll systems. If you too think that such systems cut down human interactions in the workplace, it is a big misconception.
Payroll processing is all about computing and transferring accurate payroll. In this, the payroll management system is a big enabler.
Say, for instance, payroll software may compute payroll in just a few minutes, but HR managers will certainly check it before sending it forward. Likewise, employees will surely reach out to HRs for in-person assistance for payroll-related queries.
Not to forget, a number of payroll-related operations that are taken over by payroll systems are better performed. Isn’t it a sole good reason to consider such solutions?
Are you also stepping back due to this reason? If yes, we are glad you are here.
With increased technology dependence, security has become a universal concern.
Truth be told, payroll software is the safest storehouse to keep as well as manage your sensitive payroll data.
Top-notch payroll systems are safeguarded with a host of data privacy settings, encryption, access controls, multi-factor authentication, and much more.
While choosing a payroll management system, go for one offering increased data security features to avoid any pitfalls of technology.
Most companies think that implementing a payroll management system is a costly affair. This is not at all true.
Today, you can find a variety of options in the market. Yes, you read it right- you can definitely find a system that not just meets your payroll needs but also fits your budget.
Even if you find the initial cost a little high, just focus on the bigger picture. Payroll software aids efficiency cuts down human errors and enhances employee engagement, thereby saving businesses a large chunk of money.
From a long-term perspective, payroll management systems will definitely show clear ROI.
In terms of support and maintenance, such systems have even done away with the need for full-blown internal HR teams to develop, deploy and maintain piles of papers/documents.
Last but not least, people also presume that automated payroll systems are only built for large companies. This is, undoubtedly, one of the most baseless misconceptions!
An advantage of automated payroll software is the flexibility of its offerings- right from 10 users to 10,000 users. This, in turn, has enabled even startups to gain advantages of payroll automation and compete at par with big companies.
That means every organization, be it small, medium, or large, can acquire use payroll systems and acquire tons of benefits in the long run.
Now that we have busted five of your myths about payroll management systems, let’s dive in and talk about the top five benefits of using such systems.
Have a look:
With an automated payroll solution, payroll management processing will no longer be about juggling with papers.
The software simplifies, automates, and streamlines every step involved in the process.
As a result, HR professionals can save a large chunk of time and energy that can be invested in other crucial business activities.
As we mentioned earlier, payroll software frees up time for HR managers. This can dramatically impact their overall productivity level.
Unlike manual methods, HR managers just need to give commands to the payroll system and it will process payroll in a blink of an eye.
In simpler words, while software computes and manages payroll, HRs can sit back & relax!
Human errors are big NO-NO when it comes to payroll. Payroll errors can not just impact employee satisfaction but also lead to a huge loss.
The best way to avoid human errors is implementing a good payroll system. Such systems need a bare minimum of human involvement that, in turn, leaves no room for payroll errors.
We are living in an era where almost everything is automated. In such a scenario, if a company relies on payroll software- it can effortlessly stay ahead of the game.
Since payroll software ensures productive HR managers and happier employees, businesses can see their bottom line improving like never before.
Let’s face it, hybrid and WFH models are here to stay. That being said, every HR department should be empowered to carry out crucial processes anytime, anywhere.
Payroll software adapts to any working environment. That means HR managers can now take care of the whole payroll management process from any remote location. All they need is a good internet connection, and they can transfer employees’ salaries in a tap.
We hope now you understand that payroll management systems simplify as well as streamline HR professionals’ jobs, allowing him or her to pay attention to more strategic human resources duties.
Without a doubt, implementing payroll software will only enable the strategic value of the HR professional, instead of degrading it.
Having said that, it is high time for employers and HR professionals to realize this reality and embrace automated payroll solutions asap.
At the end of the day, perform or perish is the HR paradigm nowadays, and technology is one of the pillars that ensure increased performance.
Stay up to date with business growth tips and tricks with UBS
Stay up to date with business growth tips and tricks with UBS