There are so many compelling reasons that necessitate Australian businesses to adopt digital technology in every area of their operations. The labor intensive and critical nature of payroll operations makes them among the top contenders for cloud payroll adoption. If you manually process the payroll each month on your organization’s desktop, creating numerous sheets and documents pertaining to different variables, employees and maintaining their time records, you would know how difficult the process can be.
The pandemic has only added more chaos to the mix. That’s where cloud payroll software can help you keep your promise of paying all your employees the right salary at the right time no matter where they are located. Before we go further, let’s just take a look at some of the key functions performed by a world-class cloud payroll solution:
Online pay slips
♦ Automated tax calculations
♦ STP compliant
♦ Ability to create rules based on modern awards or Enterprise Bargaining Agreements (EBA)
♦ Cloud integration
♦ Local tech/support team
♦ ATO certification
♦ Superannuation processing
♦ Parallel testing
♦ Transfer of current payroll and staff data
♦ Regular updates on local regulations
♦ Global/multi-country payroll
An advanced cloud payroll software offered by an experienced payroll services provider will also offer two key integrations to help in managing the entire payroll operations seamlessly. These are:
Core HR Module
No matter what your company does, all businesses operate on economic cycles. From paying salaries to employees to fulfilling the expectations of the shareholders and investors every quarter, a business needs to take care of everything and in the post-pandemic scenario, you have to manage everything with a lower number of hands on deck. That’s why workforce management is of utmost importance nowadays.
This is where a good cloud payroll software will use integrated AI, data analytics and other tools to match the right skills with the need. Backend processes such as competency maps, time management, multiple employee assignment, recruitment and training, etc. can be used to bridge the gap between demand and supply of human resources.
You would be able to seamlessly manage and access employee records digitally which will enable you to understand your employees better, and also track all their workplace movements such as transfers, promotions and deputations, etc. Everything can be documented and made available for reference whenever needed.
The integration of Core HR functions into the cloud payroll platform also provides an end-to-end employee service through which they can plan their travel, seek approvals and file claims for reimbursement etc.
Time and Attendance Management Integration
Since employee attendance and hours of work are the basis on which wages and other benefits are calculated, you need a fool-proof and accurate solution which can take care of the needs of the dispersed workforce in post-pandemic times.
There is no doubt that a cloud payroll solution can transform your ease and quality of payroll management, but if you are constrained by staff challenges or other issues, you can also easily outsource the task to a leading payroll services provider. You will get a holistic and frictionless experience with round-the-clock customer support and anytime, anywhere access enabled by good payroll services providers.
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