The constant development and digitalization of HR processes have created a different level of time and production improvement for various small and medium enterprises (SMEs).
Automated systems help reduce the chance of human error. The only thing that matters is whether employees remember when they clock in and out. However, an in-house accountant/bookkeeper can adjust if employees forget to clock in for lunch or if their time clock stops working.
Payroll is a complex task that can drain your business’s resources and cause costly errors. Many small business owners turn to accountants, third-party contractors, or automated software systems to handle payroll. The features of any service can be tailored to meet your needs, no matter what they are called. Payroll systems that are efficient offer benefits in time, cost, accuracy, and organization. However, with its growing demand is the availability of various payroll software providers, making it hard for small business owners to select the ideal payroll package software.
What Makes the Right Payroll Package Software for Your Business in The Philippines?
When selecting payroll software for your business, you’ll want to consider several factors. Using the right payroll software can help you meet the legal requirements for your business. The right payroll software also has additional features to help your business grow. Some even provide garnishment payments, manage paid time off, and even administer workers’ compensation. Read on below and learn more about what makes the ideal payroll package software for your business in the Philippines.
Solid payroll processing and accurate tax calculations
Aside from being compliant with Philippines data security and privacy laws it is also vital to check if your chosen payroll package software cancalculate accurately for statutory number. It must be able to conduct complete automated audit trail for processing and tracking Philippine mandatory employee benefits and contributions for SSS, PhilHealth, PAG-IBIG etc. Furthermore, your chosen payroll package software mustalso allow you to easily set up earnings, deductions, and taxes andmakeadjustments.
It is necessary to have payroll software that supports legislative changes; thus, you’llneed to find a payroll software solution that will help you keep track of compliance changes as the compliance landscape is constantly evolving. Moreover, look for a payroll provider who offers more than such as an info center that provides information about software updates.
High Security
Since tax automation and payroll are involved, it is essential to look for software to ensure that your critical business and employee information is safe and secure. Keep an eye on the software’s security measures when accessing sensitive employee data. Check to see if the system has safeguards to help identify risks and irregularities within the account.
Employee Independence
Every employee desire the ability to conveniently access their information anywhere at any time. Hence, it is vital to consider payroll software that will provide you and your employees with the same amenity toaccess necessary information with convenience.
Self-service solutions can help you and your HR team reduce administrative work. In addition, mobile payroll processing capabilities are another option that you should consider providing administrators with the tools they need to make changes on the move.
Reporting capabilities for payroll
Look for a payroll package softwarethat offers pre-built year-end and payroll reports and advanced reporting capabilities.
You can make better business decisions faster if you have the right reporting capabilities. Payroll software with data analysis and reporting capabilities can help you gain valuable insights without spending hours managing dashboards. You can view your year-end and payroll reports from previous years at any time. Also, with the right system, you will be able toarchive reports from years past.
Expertise and excellent customer support
Being able to ask your software system provides the right question is a vital factor when searching for the right payroll package software. You may ask your provider to give examples of how they have helped your company with specific problems. It is also idealto gauge how experienced they are in assisting businesses to expand.
However, it is also paramount to know that you are not the only one who can help yourself if you have questions. Strong support can help your payroll team overcome obstacles that prevent them from accurately and timely paying employees.
It would be best to look for a payroll package that will help you every step of the way. Search for a software provider that can answer the following questions:
- What support options are available, and what type of support will they provide?
- Can you be referred to CPA-trained professionals familiar with your company’s needs?
- What are the different communication options available (e.g., What are their communication options (e.g., phone, email, support tickets etc.)?
Many payroll companies offer online support, while others provide phone support. It would help if you considered your preferences when evaluating your options.
Flexible and has an Efficient Execution Process
Having a flexible payroll package solution will help you save money and help you and your organization grow. Look for a software solution that can easily adjust to changes in work locations, pay rates, and employee assignments.
You will also need guidance to launch your new payroll provider after you sign up. Ask the providers about their implementation process and how long it will take for them to implement the new solution. Some payroll partners can also offer resources such as a checklist to help you prepare your team for seamless implementation.
Payroll Software Package in the Philippines
Easy integration between payroll and HR software is essential. A single platform that integrates payroll and HR software can help the HR department manage employees and payroll. The software automates many tasks, including onboarding and offloading. This software can be used to save time and money for the HR department.
Manually running the Philippines payroll can be tedious and costly. Good thing GreatDay HR, a modern all-in-1 HR and payroll platform can automate the process and reduce human error.
GreatDay HR is a complete software solution that simplifies HR processes. It allows you to manage employee leave requests, track attendance, and handle payroll. Gamification is an excellent way for employees to be motivated. It streamlines communication between employees through task management and activity tracking. The software also provides continuous feedback and analysis to improve the efficiency of your business. GreatDay HR is also affordable compared to other HR and payroll software packages.
Software is tailored to meet the needs of conglomerates and small businesses. It is affordable, making it more attractive for small and large companies in the Philippines. The company also offers customizable plans and moderately priced add-ons that allow businesses to tailor their strategies to suit your budgets and needs.
Have the best payroll package software for your SME and check out more of the HR software companies in the Philippines as you explore and learn more with GreatDay HR!
Sources:https://smallbusiness.chron.com/features-payroll-system-60900.html
https://www.usnews.com/360-reviews/business/payroll-software/how-to-choose-payroll-software-system
https://www.businessnewsdaily.com/7477-choosing-payroll-service.html
