Last updated on February 24, 2021
Payroll and HRIS form the two most important cornerstones of any organization. Higher the efficiency of these departments, the better the throughput of any organization. While many businesses prefer to carry forward legacy methods of handling payroll and HR, these norms are quickly changing. Business owners now look forward to more output in less time, which can only be achieved by automation and digitization. Payroll software and Human Resource Information Systems (HRIS) are catching on in the market. The demands have risen to make a switch from pen-and-paper methodologies to automated services that reduce human interference.
There are two types of payroll software services that could be availed of, on-premises software and cloud-based payroll. Many organizations face challenges while working with on-premises payroll because access is limited. The industry is seeing a shift to SaaS (Software-as-a-Service) methods and increased Office 365 to Office 365 cloud migration. This migration is baked by the need for remote working, centralization of data, and self-service for each employee. Hence, cloud-based payroll software is best to get complete payroll solutions.
If you are still wondering why you need to switch to a cloud-based system, check out the list of reasons below. If you or your organization is facing any of these issues, it’s a clear indicator that your payroll processes need to be switched to a cloud-based payroll service.
1. Data is not centralized
Your organization needs to have a central database that could be accessed from anywhere by anyone with appropriate credentials. Centralized data allows the user an option of working remotely so that work does not stop when you move out of the office. Many businesses lack this facility and thus payroll is delayed which leads to dissatisfaction among the workforce.
2. Grievance Address is not quick
If your payroll and HR department faces multiple calls during a day regarding payment status, it is time to look for a cloud-based alternative. Inquiries and grievances can be handled effortlessly via cloud-based payroll software. Employees can check their salary status online without bothering anyone else.
3. Intercommunication of systems is missing
It is crucial that your HR and payroll database is interlinked in a way that it reflects changes in either of them in real-time. Has it ever happened in your organization that HR updated an employee timesheet but payroll never got the memo? To prevent these unfortunate incidents from happening, a cloud-based payroll is a blessing in disguise to sort out your intercommunication as it automatically updates all the database entries in real-time.
4. Compliance to Federal Laws is lacking
Compliance is key in payroll processes. State and national federal laws keep updating. If you ever faced an issue where your business was deemed non-compliant in an audit and you had to pay heavy fines to resolve the matter, it is high time that you switch to cloud-based payroll software. It has automatic features that update such relevant laws automatically so non-compliance is never a worry.
5. Report Generation is time-consuming
Timely reports and balance sheets are expected of any business for taxation purposes. Do you find yourself spending numerous hours processing one single report? If yes, you know you need the switch to cloud-based payroll software. A solution such as cloud based QuickBooks can be the perfect answer. It offers complete payroll solutions, right from payroll processing, direct deposits, tax filings, and report generation.
6. Carbon Footprint is a concern
Sustainable businesses are futuristic businesses. If you want to scale bigger, you need to keep in mind that your business maintains eco-friendly practices. That means less paperwork involved in all aspects of a payroll process. Cloud-based payroll software is fit for this role because everything happens digitally at the touch of a button.
If you found the above-mentioned reasons applicable to your payroll process, then it is evident that your payroll needs to be restructured to incorporate digitized methodologies. Picking the right payroll software is crucial to erase all complications. While there are multiple vendors available, UZIO has an expert cloud-based payroll software service that can rid you off of all payroll woes. Go digital and stay relevant to contemporary business practices with newer SaaS available in the market.
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