3 Advantages of Online Payroll and HR Management Systems

With the advent of the internet, almost everything has found its way online. From the selling of grocery to an advertisement, nearly every business has a digital footprint today.

The scenario is not very different when it comes to Payroll and HR Management. Some services offered by leading agencies regarding online maintenance of HR records and payroll systems are as follows:

• Calculation of payroll details for every employee at one go
• Calculation of deduction for absenteeism as well as overtime salary in accordance with defined formulas
• Generation of customized pay-slips for every employee
• Generation of payroll reports classified by employee grade, department, worksite designation, et cetera
• Maintenance of basic details for every employee
• A detailed breakdown of salary with computation of various components such as Fixed allowances, Fixed Basic Salary, and variable salary elements
• Maintenance of qualification and work experience history for employed individuals as well as prospective candidates
• Maintenance of leave management records
• Calculation of Employee Gratuity in accordance with contract type.
• Details of contact for every employee
• Details of employee Visa and Passport, along with issue as well as expiry dates
• Tracking of salary increment of every employee

There are enough varieties of software available today in the market that allow companies to maintain employee records and calculate their pay on a cloud system.

One such leading software is DynaPay Payroll that is based on Microsoft Dynamics 365 Business Central. One may wonder about the advantages of a company availing online services to manage their HR and payroll departments.

Let’s look at the benefits of using technology to aid us in this respect.

• Less Cost: Imagine a company maintaining the details of all their employees on pen and paper. Now imagine, the company with multiple branches in different locations around the world and hundreds of employees. Maintaining basic profiles on the cloud and having an online Payroll Management System like DynaPay Payroll, means a lot less cost in terms of the manpower required to maintain the physical systems.
• Minimum risk of human error: It is no surprise that having employees work the documentation and payroll computation system on pen and paper often results in unwarranted errors. Trusting your records with the technology always ensures that you get maximum accuracy and minimum error. Rigorous processes like data entry and computation have fewer errors when done through any equipped software like DynaPay Payroll based on Microsoft Dynamics 365 Business Central. This not only enhances time and cost efficiency but also improves employee satisfaction.
• Caters to deadlines better: When it comes to the payroll of companies employing a large number of individuals, filing of taxes at the right time and presenting employee details to the necessary authorities regularly is a must. This can be adhered to easily by using proper payroll software such as DynaPay Payroll system. In-built reminders and other settings can help the companies to cater to tax deadlines better.

To know more, speak to our expert at +971 4 447 5525 or inbox us your query at inquiry@dbsae.com