Every business entity be it a newly launched start-up or an established organization, all share a common goal i.e., an unending desire for having optimum efficiency and agility across all its core business processes.
With the business ecosystem turning more and more volatile, it is more important than ever to have an inspired and motivated workforce. This calls for embracing change for betterment. Thus, it is high time for a business to think unconventionally. For instance, there comes a time when a business would outgrow on Excel sheets, which calls for embracing new technologies.
HR is one such crucial department in an organization that administers key organizational operations such as payroll, engagement, management, retention, tax, etc. Unfortunately, a staggering number of businesses are still stuck in ice age using legacy or traditional tools for executing their HR operations. Legacy tools incur additional expenses of purchasing equipment, consultations, maintenance, updates, etc., and are sluggish.
Can a cloud-based HR software address all the pain points endured by human resource personnel when using traditional tools?
This article talks about five convincingly strong reasons a business needs to invest in cloud payroll software.
1. Good value for money
Since cloud HR software automates the entire payroll process, HR personnel no more need to compute salary, rewards, benefits, tax, etc. manually saving them time and effort, which in turn results in a more productive and efficient HR department. With accurate and intelligent formula-based computations, cloud payroll software helps with error-free and redundant-free calculations for taxes, full & final settlement payable /receivables, etc. at the click of a button.
2. Connectivity on the go
Instant and seamless access to all your crucial HR data on the go. Since all your data is stored in the cloud, instant access is no big deal with cloud HR software. On the other hand, employees get real-time and quick access to information pertaining to their pay, tax, PF, TDS, etc. right from their smartphones with the employee self-service app. What's more, they can also apply for day-offs, download payslips and check leave balance on the go.
3. Best biometric attendance system
Cloud payroll software comes with an intelligent time and attendance tracking module. No more payroll inaccuracies and redundancies saving a huge amount of time and effort for HR people. HR software seamlessly integrates with most of the biometric devices used in companies these days to offer real-time attendance reports at your fingertips thus making it the best biometric attendance system. Timesheet management is no more a draconian task.
Besides being the best biometric attendance system and full & final settlement tool, cloud payroll software makes all your core HR processes paperless thus, reducing your carbon footprint substantially. Being SaaS-based, you can choose from the various pocket-friendly subscription plans offered thus, providing you with unmatched scalability. Furthermore, no need to invest in additional IT crew or infrastructure for maintenance and implementation.
5. Quick implementation and best-in-class data security
Since cloud HR software stores all your data on cloud servers, data recovery is just a few clicks away in the event of a technical glitch or natural calamity. Thus, a cloud-based HRMS solution saves the day for you in the event of data theft/loss. Extracting critical data pertaining to full & final settlement, attendance data, payroll, and other quintessential HR information is no more a nerve-wracking task.
Cloud payroll software enables organized bookkeeping and filing for your HR department. As the data is stacked on a cloud server, data is well synchronized and organized available to you at lightning speed with just a few clicks from any place and at any time.
So now that you are well-versed with the reasons why a business ought to embrace cloud HR software, it’s time to take the plunge and live these benefits.
Anwar Shaikh writes about cloud HRMS and payroll solutions. A self-made and reared-up writer, Anwar writes for Pocket HCM, a provider of one of the leading cloud-based HRMS solutions to small and mid-sized businesses all across India.