4 Flashing Signs your Payroll System needs a Reboot, Like Now!
When should a business consider changing its payroll system or process? This question has been a concern for a number of business leaders all over. Often, a business tends to reach a crisis point when it comes to making a wise decision of changing, reviewing or amending its existing HRMS software. During this turmoil, the worst to hit is the HR department and its people.
Here are four neon-flashing signs your payroll management software needs a reboot, like now.
- That ferocious cycle
As every payday incurs a pattern familiar to the previous, human resources people end up splurging most of their time and efforts in unriddling timesheets often making their way through piles of spreadsheets or gliding through the muster roll manually.
This is often followed by the cumbersome task of manually typing in data into the payroll management software that eats up hours. Next, comes the manual re-evaluation of payroll calculations on some entry-level or legacy system before disbursing the payroll.
Is this a routine thing for your HR department?
Amidst all the turmoil, what if your HR department misses out the deadline to file employee taxes and necessary returns along with the essential reports. Pleading with the tax department on phone won’t address your grief here and the result is often in the form of heavy penalties.
Moreover, when employees run after the HR personnel enquiring about tax details, payslips, payroll inaccuracies, etc., it is sure to put the entire department under immense pressure. If your HR department always lands itself in troubled waters rectifying blunders from last month’s payroll while still working on the current or impending payroll, it is a flashing sign to change your HRMS software or payroll processing method for good.
2. Pain points on the rise!
Growth is one of the most wonderful things that can happen to a business. Nevertheless, it should be noted that growth increases the chances of a business outgrowing its existing business processes or tools.
For example, a recent acquisition or new project might require hiring more employees for a business. Now besides recruitment and training, there arises a need to form new members in the existing HRMS system.
The question here is can the existing system cope up with such growing needs of a business? Is it scalable, since not having one could land a business in hot waters?
This is a major sign your business is craving for a scalable and cloud-based payroll management software to meet its burgeoning payroll needs.
3. The same old desktop story
Is your human resources department tied to some desktop system for accessing the payroll software? Can the department access the system on the run from a remote or distant location? Is your HR team spending hours to import, email or export critical payroll information from that single desktop computer every month in this era of smartphone?
If you answer yes for any of these, it’s time to rethink the way you have been processing payroll or maybe it’s time to move your payroll operations to the cloud with a cloud-based HRMS software.
4. Compliance is monstrous
Keeping abreast with the frequently changing statutory compliance and employment regulations is undoubtedly one of the key tasks for any HR department and failing to do so might land the business in serious troubles. Worst case, non-compliance may even cause a business to shut down.
Is your human resources department experiencing statutory compliance issues on a regular basis? If yes, it’s time to reassess your payroll management software.
As we are fast moving to a more connected and advanced world, businesses ought to consider novel ways when it comes to managing its people and also when paying them. This calls for arming your HR department with a robust and intelligent HRMS software. As a matter of fact, cloud payroll management software is revolutionizing the way businesses are paying their people.
It is a highly competitive world, and companies are continually striving to do better each day to improve productivity and increase overall efficiency. In any business, managing documents, exchanging data through emails, and scheduling meetings requires continuous collaboration within the team.
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