Benefits to the workplace
Cloud payroll takes out all of the paper elements in payroll and is beneficial for those that work remotely. Being able to carry out all the steps from enrolling employees, complying with legal requirements and distributing payslips online means that all that is required to carry out this work is a computer and access to the internet. This also means that when multiple employees need to access the same data they can do so simultaneously while working remotely.
Having an online based system also means that the systems can be updated by vendors as often as needed, with no implementation needed from the company’s end, which can save time and resources as having on-premise systems incurs expense of purchasing, maintaining, and upgrading.
Benefits for employees
Cloud payroll also allows employees to view their payslips on a secure online portal which means that there is no confidential data being shared through means such as emails and no fear of payslips getting lost in the post. This also enables employees to check their payslip and request any adjustments they wish to make as soon as the payslip has been distributed to allow for faster processing of information.
Having all information in one central system also means that if information regarding the employee’s onboarding, benefits, salary revisions, leaves, and investment declarations etc is required on future occasions, this can all be found in one place, making it useful for compliance purposes. Additionally, payrolls with self-service portals saves time for HR as employees can personally submit documents required, and if they are not submitted, they can be requested in real time rather than through emails.
Cloud payroll provides all the benefits and more when compared to built-in systems but without the cost and effort.
