Modern organizations are embracing the use of digital technologies in their operations, including HR operations. One common example is the use of AI Recruiting Analytics. Speaking about the challenges of today's HR department, the ProcessMaker wrote:
Regardless of the state of the economy, Human Resources departments are overwhelmed with recruiting tasks."processmaker.com
Digital transformation is the use of digital processes to replace manual processes. It comes with array of benefits that outweigh any associated costs. This article highlights four significant benefits of HR digital transformation.
Benefit #1: Enhanced Employee Productivity
Manual payroll, even for a small workforce, requires a significant amount of time and effort. Various types of deductions and allowances have to be calculated. To determine staff earnings, number of hours each one worked has to be compiled and totaled.
Month after month, as number of spreadsheet worksheets increase, managing them become increasing difficult. Any unintentional change to a formula affects all dependant worksheets. Clearly, manual payroll, even with a use of excel is error prone, laborious, and stressful.
But the fact remains that payday needs not be a stressful time for your HR office. You can take advantage of modern technology to ease the workload and enhance staff productivity.
Do you know that our cloud workforce software computes complex payroll for 55 employees in less than 20 seconds? Can you imagine the ease and the speed that you get through our automation?
Benefit #2: Consistent, Accurate Payroll Processing
Internal Revenue Service (IRS) requires business owners to deduct right amount as tax from staff salaries. Government penalizes employers that under-deduct tax from staff. On the other hand, staff members feel cheated if over-taxed, and it can affect moral.
So, accurate tax deduction is important. With SME Payroll platform, employee tax is computed with high degree of accuracy each and every time.
Benefit #3: Lower Payroll Cost
Time is money. Manual payroll consumes time. Less time you spend on basic administration, the more money you'll save.
As for on-premise software deployment, you need to consider payment for software updates, maintenance, and security management cost. All this payment adds up quickly.
On the contrary, our cloud based Payroll System is consistently updated, backup, and maintained at no extra cost. It saves you significant business time. And it makes you spend less on paper & ink. Above all, it's pay-as-you-go and very much affordable to small business owners.
Benefit #4: Statutory Compliance
Federal Government of Nigeria requires payroll tax records are kept for upwards of six years.
United States Department of Labor requires minimum of three years.
SME Payroll is fully complaint with the Finance Act 2020 of the Federal Republic of Nigeria which became effective January 1st, 2021.
With our automation, you can be maintaining comprehensive worker data. Data access, entry and updating are pretty easy. Data storage is secure and accessible even six years after.
Contact info(at)smepayroll.com.ng or call +2348099221401 for demo today.