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In recent years, businesses have evolved, and operational practices have changed drastically. Technology is at the forefront of business activities in every department including HR and payroll. Not leveraging advanced technologies to manage is a mistake that no enterprise should commit anymore.
The Internet has enabled creation of cloud-based solutions for the payroll needs of the companies based in Malaysia and all other countries. The old and seemingly never-ending challenges of repeated calculations, printing forms, slips, sharing them with employees, management, and authorities such as the tax department can now be effectively overcome with these cloud-based technologies. You can save a lot of time and money by replacing the conventional payroll processes with cloud-based payroll software.
Cloud-based payroll is a great productivity booster that is going to define the future for all companies as far as enhancing HR efficiency and payroll accuracy is concerned. Going beyond the operational speed, a world-class payroll solution offered by reputed service providers like Ramco Systems can also deliver a lot of cost savings for the business. Some of the significant benefits of cloud-based payroll are:
- It ensures strong cybersecurity
- It can facilitate seamless data migration and storage
- It keeps track of regulatory and taxation changes and integrates automatic updates
- The paperless operations are environment friendly
The conventional on-premises payroll solutions have several disadvantages that make them restrictive and inconvenient for modern day usage. For instance, most of such software don’t offer the benefit of scaling or integrating with other tools and platforms, but cloud-based HR systems are easily scalable, customizable and convenient to use in tandem with other software.
The adoption of people-centric processes has led to a transition in approach of HR professionals. From treating employees as merely human resources, now the focus is on seeing them as human capital and using the right human capital management software to improve productivity, employee retention and engagement.
As one of the leading global companies offering a diverse range of software solutions to solve critical business needs, Ramco Systems is endeavouring to simplify HR functions by automating routine processes. The cloud-based payroll solutions enable the HR personnel to free up the time typically spent on payroll calculations and utilize it to perform other critical tasks. The cloud-based payroll platforms enable integration with systems such as time and attendance management and Core HR modules to deliver end-to-end HCM experience for global operations of companies based in Malaysia and other regions of the world.
Key benefits of payroll software
By using advanced software that can convert payroll into Human Capital Management (HCM), the level of skill and productivity across the company can be enhanced. An ideal platform can enable automation and streamlining of the HCM functions and offer benefits such as:
- Time and attendance tracking
- Superior employee experience
- Automated leave management
- Preventing overpayment in payroll
- Accurate tax calculation
- Reducing compliance violations
- Ability to synchronise and standardise global operations
The cloud solution further offers various advantages such as:
Innovation for superior experience – The platforms integrate artificial intelligence and machine learning to offer smart chatbots and AI process automation to simplify and enhance user experience.
Global operations – A single window payroll management for territories across ANZ, MENA, and APAC including China and Japan is possible through cloud solutions.
Ease of deployment – Companies worldwide can use the payroll system like a cloud-based platform, on-premises software or as a managed service.
These are just glimpses of the capabilities and benefits of a cloud-based payroll software for enterprises worldwide. As we are entering 2023, it is a great time to transform your payroll and HCM processes with automation, and enjoy superior employee experience and loyalty!
