In the era of the fast-paced business ecosystem and cutthroat competition, businesses are constantly on the lookout for ways and tools to streamline key business operations. On the other hand, the government’s ‘Start-up India’ ‘Stand-up India’ gaining good traction, the race has turned a lot fierce particularly in the SME domain.
As it has become the need of the hour for start-ups and SMEs to gain lightning speed to stay ahead of the curve, employee management has become more challenging and essential than ever. This is the reason for the burgeoning popularity of budget-friendly cloud-based payroll and HR software available in the market these days.
Let’s have a look at why cloud payroll is fast becoming the perfect pick-me-up for SMEs.
Being cloud-based, start-ups and SMEs get to choose from the various pocket-friendly SaaS subscription plans that offer unmatched scalability. Further, as there is no need for additional hardware or other installations, cloud payroll turns an affordable HRMS solution thus, gaining great popularity among SMEs.
- Freedom of access
Cloud payroll solutions provide the users with total freedom and control on their payroll anytime and from anywhere. Irrespective of whether you are in between a journey or on a holiday, access to all the crucial payroll and HR data is available at fingertips. It is accessible via mobile phones, laptops, and tablets from literally anywhere.
All you need is a stable Internet connection. This infers that your HR personnel can work in real-time. Talk about mobility and payroll.
Having an in-house payroll solution may run into a long-list of compliance issues. Adding to the grudge, the complexities involved in maintaining an in-house solution is no less than a headache. On the other hand, outsourcing your payroll operations too has its share of risks and demerits such as lack of control, unreliability, data theft, etc. to name a few.
With the cloud payroll system, it’s a different game altogether. This is because a cloud HRMS solution automates all your key HR processes and offers real-time access to data. No more payroll redundancies due to incorrect timesheets or attendance tracking, since everything is automated when you use cloud payroll software.
Cloud computing is all about going green. Start-ups and SMEs can reduce their carbon footprint to a great extent with cloud payroll software. Talk about paperless and organized employee management.
So all in all, cloud payroll is no rocket-science for start-ups and SMEs. In fact, it is one of the simplest, affordable, and secure tool to address the diverse HR and payroll needs.