I still remember my first job. The company could be dubbed as a small enterprise where hardly anything was automated, forget about payroll. My first salary, for whatever reason failed to hit my account on the designated day. I did nothing but panic because, that was meant to be my first salary of my career. I finally got my salary after about a week but, I still feel disappointed that one of the most awaited moments of my first job turned out to be a disaster.

I am happy with the manual payroll system prevalent in my company. Why should I switch to a software enabled payroll system?

This is the question which haunts many people in business.

Every person associated with the organization as an employee, be it permanent or contractual should rightfully be paid for the valuable services which he provides to the organization. This process of payment is what is called payroll and undeniably great significance is attached to it. In the earlier days, both payroll and the other HR processes were handled manually. But, with the changing times and ever evolving technology, many organizations are making a conscious decision to be a part of the change for good and they are making it possible by paving way for software enabled processes in their organization. There are myriad benefits associated with software enabled payroll and the best part is that the benefits are palpable and permeate throughout the organization.

Benefits are…

– The software enabled payroll can be commended for its’ intelligence for it takes care of payroll deductions, payroll calculations and tax calculations on its’ own, which rules out any errors that were previously arising due to manual calculations. It also captures data pertaining to employees’ leaves, arrears, reimbursements, advances and loans to the minute detail which help in the generation of payroll accordingly for all the employees and on time.

– No matter how small or big the organization is, or no matter how skilled or efficient the people involved in the payroll process are, the truth is payroll process is quite cumbersome and time-consuming. By adopting the automated payroll, the organization can make optimal utilization of time and resources by allocating the personnel involved in payroll to better meaning tasks.

– With automated payroll, you have the luxury of being able to lay on your hands on any report you wish to have, in just a click. The reports are designed in such a way that even the minute detail is captured and there is no denying that a minute detail can make a huge difference to your organization. Any business should abide by the law of the land with respect to payment of taxes and adhere to the statutory norms. In order to satisfy these, you need to be very prompt in taking necessary actions and only when you are equipped with the right information and right reports will you be able to stay off the pressure of not keeping up with the timelines for payment of various taxes This promptness improves your image in the eyes of all the stakeholders and society as a whole which greatly improves your chances of enhanced reputation and improved business.

Some more benefits…

– The manual payroll process is so cumbersome that it is very difficult to generate an error free payroll all the time and when errors occur, it is followed by disagreements and disputes which could have otherwise been avoided. The question of error prone payroll is eliminated or at the most minimized in automated payroll process as all the data comfortably sits in one place and this leaves ample space for verifications and clarifications with respect to pay, deductions and other information pertaining to the contents in the payroll. This eventually leads to credibility and integrity being established within the organization.

– The picture which the software enabled payroll process draws of the organization with respect to the financial aspects is almost always clear, true and accurate and when you are backed by trustworthy information, you can involve yourself in hassle free decisions regarding your business resulting in your people buying in your decision owing to the impeccable information and meticulous reports you are armed with.

– Confidentiality is expected to be maintained with respect to payroll information in the organization. The automated payroll process is enabled with functionalities that remove the risk of the information being misused or minimized to the maximum extent possible. Select options can be made available to select people so that you have complete control in the dissemination and flow of information pertaining to payroll.

– The sight of plethora of files and papers by itself can make us tired and exhausted. With software enabled payroll, this can be eliminated. Also, by lessening your dependency on paper you would be contributing to the conservation of ecology which can be a way of exhibiting your corporate responsibility.

Final word

The least a company could do to the employees, as recognition of their service is to make prompt and accurate payments to them. Every company irrespective of it’s’ size can benefit from a payroll software for small businesses. So, if you are still one of them who is stuck to the manual payroll system, it is time you revisit your strategies and seriously think of revamping your payroll system by engaging a payroll software that suits your business and its’ needs.

iSuperSuite Human Resource and Payroll software is iSPRINT Packaged Solution. Get this grant to defray the cost of purchasing and setting up HR and Payroll software which is approved by Inland Revenue Authority of Singapore (IRAS)

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