Payroll processing is undeniably one of the most daunting and tedious tasks and HR professionals all across the globe endure this dilemma. The situation turns more distressing when it comes to manual tracking of time and attendance.
In addition, for start-ups and SMEs, outsourcing their payroll is certainly not a viable thing to do. So what would be the perfect solution here? Can a cloud-based payroll software turn in as the saviour for small and medium-sized businesses and start-ups in managing their payroll? The answer is yes it can to a significant extent. Read further to find out how a cloud-based HR software can shun the hassles of manual attendance and time management for SMEs.
Manual tracking of time and attendance is prone to delays and incorrect payroll resulting in dissatisfied and unhappy employees for an organisation. You certainly wouldn’t want to experience this. Cloud-based HR system is the clear winner here since it automates the entire process right from employee’s biometrics punch to processing of salary.
Here are some prominent benefits of having a cloud-based HRMS solution for your business:
- Improved Employee Management:
One of the prominent advantages of cloud based attendance and time tracking payroll software is it promotes improved employee management. Since it automates the entire payroll, HR professionals need not fret about incorrect time tracking, errors in attendance management, and miscalculated salary. This also reduces payroll redundancies to a great extent leading to more efficient and quick payroll processing.
- Timely generation of timesheets:
One cannot deny the importance of meeting those toiling deadlines when it comes to payroll processing. On the other hand, employees expect timely remuneration after a month of hard work. Delays in timesheet generation can procrastinate the entire payroll processing.
Nevertheless, having a cloud-based payroll software for automated time and attendance tracking can shun away all these concerns. Since all your data is stored on the cloud, you get instant access to the required data in real-time making the laborious task of timesheet generation a piece of cake.
- Timesheet rectifications made easy:
Making rectifications in employee timesheets is no less than a nightmare for HR professionals. There are always employees, who forget to punch out or in when returning from breaks. This stirs delays and inaccuracies in payroll. Manual time tracking makes it all the more difficult for HR people and thus, having a cloud-based time tracking software saves the day here.
- No more payroll inaccuracies:
Payroll is an extremely important and judicious process. And in the case of short-changing, employees can create a ruckus disturbing the code of conduct in an organisation. A cloud-based HCM software paves way for an accurate and error-free payroll process thus, you enjoy meticulous, accurate and smooth payroll processing.
- Automated reports generation:
Keep a track of unsanctioned leaves, absenteeism, sick leaves, working hours, etc. at the click of a button with an automated time and attendance tracking system. Plus, generate timely reports pertaining to various HR processes.
Other benefits include reduced labour costs, increased revenue, efficient human resource management, reduced spreadsheet management, and exclusion of storing/maintaining unnecessary data.
So these are few prominent benefits of having cloud-based payroll software for small and mid-sized businesses. Automated payroll solution is not only hassle-free and error-free but is also great in simplifying laborious payroll chores.
To learn how a cloud-based HCM software can help simplify and streamline payroll processing for you, feel free to drop us a note.