Small and Medium Enterprises (SMEs) are all the rage these days, springing up like mushrooms. By simple deduction, it’s safe to assume that competition is stiffer than ever before. Taking this alarming growth into account, one simply cannot afford to fall back without having ten others jump in to take its place.
The inherent nature of any company, let alone an SME, is to be as efficient as possible. Period. This then begs the question, ‘why are a sizable chunk of them still opting for manual processes when a technological equivalent is staring right at them?’ The answer can be attributed to multiple hypothesis which I’m afraid will far exceed the capacity of this blog. So to give you the abridged version, I’ll dive into the key points that make it what it is.
In the quest for the pot of gold, we’ll try every trick in the book if it means it’ll get us closer,
faster. The big impediment ironically, is the little things that we often oversee as we deem it
insignificant. I’m talking about the way in which a company handles its human resources.
Blindly following the tradition of hiring someone to be in charge of HR & Payroll activities is the trodden path and thus seems like the right way to go. This said person will be crunching the
numbers for what seems like an eternity. God forbid there are any variables to be computed,
the task becomes that much harder - reimbursements, leave, attendance, etc.
Let’s address the elephant in the room - Human Error. It’s not an enjoyable feeling when you get your paycheck at the end of the month, only to find there has been an error in the computing. The rectification process thereafter is a tedious one that eats up valuable man-hours.
So what’s the alternative
As comprehensive HR and Payroll Software is your best bet. Tailored to cater to the growing needsof SMEs. A perfect blend of efficiency, accuracy and cost-effectiveness ensures that you can
then concentrate on your core business, instead of losing out to an avoidable problem.
Benefits of a HR & Payroll software:
- Simplifies data entry, saves time and reduces errors
- Save on man-power costs to process payroll
- Employee self service (ESS) tool enhances productivity as they have access to payslips,
declarations, etc., on demand
- All your payroll information is in one central location (cloud) that can be accessed from
- 100% statutory compliant so you never have to worry about defaulting
- One-click declarations make easy work of taxes
- Streamline workflows with near complete automation
- Save a whole lot more thanks to the accuracy of a software and eliminate theneed to
hire extra staff
The brass tacks
To sum it up, it doesn’t make economic or logical sense to retain an archaic practice (at a high cost) when newer and more efficient options are available. So ask you this simple question, ‘would you rather hire someone in-house to do your payroll with the ever-present risk of human error or would you let a state-of- the-art HR & Payroll software do the job for as little as Rs. 995/ month?’ Choose wisely.