Every business desires to be efficient and agile in almost all ways!
This is because agility and improved efficiency help a business to reap more profits and drive growth
As the number of employees escalates in an organization, maintaining the HR tasks manually on a routine basis on the installed HR software & payroll software is undoubtedly a monotonous task. This includes processing payroll, filing the tax-returns, tax deductions, attendance management, etc.
Also, securing the data from breach and natural disasters is a strenuous task.
Fortunately, with the advancement of technology, there is cloud-based HR software to take care of the complex processes like payroll and Human Resource.
The effect of internet advancements on HR departments paved the way for today’s tech-enabled people management approach.
Let’s discuss a few apparent reasons to ditch the traditional payroll software/methods and switch to the cloud-based approach.
Cloud-Based HR Systems - The Forefront of Transformation
Everyone has been extolling about Cloud-based computing, but is it worth it?
Well, cloud-based computing, categorized as cloud-based Software-as-a-Service (SaaS) applications, is becoming ever-present across all business functions and applications. This growth is fueled by the growing migration of on-premises applications, data, and workloads to the cloud. The availability of various cloud-ready and cloud-native applications is also spurring the growing migration to the cloud. Adapting to a cloud-based environment can provide many benefits to companies, such as;
- Increased Efficiency
- Flexibility & Agility
- Low ownership cost
- Centralized Data
- Fewer Carbon Footprints
As organizations worldwide shift their applications to the cloud, HR and payroll are also being affected by this change.
Human Resources Management - A Business Driver!
Innovating and transforming the latest HR technologies can convert the HR department from a bureaucracy to a business driver. HR professionals are no longer confined to attending piles of paperwork in the back office, where the world is leaning onto the cloud-based solutions for each task.
The HR software that emerged after 1995 favored small businesses, and it desperately needed at least simple automation. Eventually, no industry could keep itself from indulging in the groundbreaking cloud-based technology that emerged.
Human Resources- Transformed HR
Thanks to modern technology, HR has been transformed into a tech-savvy department and an acknowledged service provider & advisory partner, making employees and managers – the satisfied consumers of the cloud-based HR services.
Increasingly, numerous organizations have been making a move towards cloud-based HR systems to leverage their capabilities and hold to the best practices of HR in terms of employee engagement and cost-effectiveness.
From data security, talent development, employee engagement to flexible performance management, and adhering to labor law compliance while managing payroll, modern cloud-based HR systems can help manage the employees & other HR processes, stay competitive and fuel the overall growth of the organization.
It is wise to switch to the cloud-based payroll system.
When your employee headcount increases, day-to-day HR processes become more complex and error-prone. An all-in-one platform, utilizing cloud-based payroll enables HR teams and companies to streamline tedious but crucial tasks.
There are many reasons/benefits of moving HR functionalities to cloud-based software:
Flexible, Streamlined & Agile HR Processes
- The HR department has to be leading the way with the mandate to improve employee engagement and develop winning workplace cultures.
- This is possible due to cloud-based systems as data is centralized & easily accessible, and information can be analyzed much easier and faster.
- Moreover, with these tools, HR can improve HR activities like recruitment, retention, performance management, etc.
- The audience is mobile, and this creates a demand for a system that is always accessible. It makes the HR team more responsive and agile.
- Cloud-based HR helps eliminate the stacks of paperwork linked with the essential HR functions in a company.
Employee Experience
Companies tend to invest more time and money in the employee experience. Losing valuable employees can be damaging to their business, and so employee engagement is critical. For new hires, deciphering the organizational processes and knowing about the hierarchy or gathering information about the payroll, incentives, and other processes by navigating through multiple platforms can be overwhelming. Instead, a cloud-based payroll system would empower employees to have a cohesive experience by using their software credentials.
HR Productivity
A cloud-based HRM system can produce real productivity benefits as the adoption of innovative tools leads to:
- Workforce optimization
- Competitive advantage
- Greater customer satisfaction
Navigating through a cloud-based system can let the HR professionals find critical information rather than physically scrutinizing the office files. Instant access to timesheets, schedules, payroll, employee records, and more leads to immediate actions and drives productivity.
Payroll Management & Self-Service
With the cloud-based payroll software, businesses don’t have to dedicate IT resources to maintaining or supporting the software. Cloud-based payroll reduces IT-related problems with maintaining, upgrading, or adding security. Cloud-based payroll applications also take care of compliance. Since generating compliance & benefits reports require both HR and benefits data, an all-in-one cloud-based payroll platform makes it easy to pull this information together.
Security
When it comes to data security and compliance, paper-based processes don’t suffice.
In the case of cloud-based payroll, safeguarding the security regarding the company’s data is taken care of by the service providers by employing industry-standard security measures.
An ideal cloud-based payroll system will let you limit specific individuals from accessing confidential data.
Self Service
Traditionally, the workforce is reliant upon payroll to ensure that their pay is accurate. If any errors occur, the potentially arduous and stressful process of putting it right then begins. By engaging in a cloud-based HR system, a personalized portal of each employee within the cloud-based payroll application would allow them to view their profile, personal data, payslips, tax forms, and any of their information. The portals can also be linked to their leave and attendance systems to view their leave balances or apply for leaves or overtime.
Cost Effective
Cloud-based SaaS applications require no capital expenditure. They only affect operational expenditure.
The Bottom Line
Cloud-based HR systems have embraced automation to reduce HR labor and enable employees to access payroll and benefits information with minimal training. It saves organizations from strenuous manual calculations. A cloud-based HR system- especially cloud-based payroll is certainly beneficial for companies large or small, and not investing in it may prove fatal to organizations that want to hire and manage a talented workforce better.
We are here to empower your organization by offering seamless end-to-end solutions to automate payroll following the cloud-based payroll and other cloud-based HR processes, thereby aiding the HR professionals to focus on exploring strategies for the growth of your business. Our services ensure the utmost security of your valuable data! Get in touch with us.