“Fifteen” and “Thirty” in the Philippines are two distinct numbers that employees await with glee and companies tread in trepidation. While employees just receive the end result of the process, through their payslips, employers, on the other hand, need to be able to accurately compute the employees’ daily time records, match it appropriately with their schedules and perform mandatory government benefit deductions; not to mention do other incomes, deductions and adjustments. And, finally compute tax and do all government remittances. Whoa! And then do everything again for the next cutoff.
This tedious manual process, though necessary in any going concern, is solved nowadays by technology. The Philippine software market is awashed by different payroll systems that promise to make a payroll master’s life a little bit comfortable. But this is easier said than done. Though admittedly a payroll software is a desired solution for any company, one would need to identify if the company needs a payroll software upgrade and whether the company itself is ready for such a change.
A product has features. It will highlight its benefits to you as a customer and the customer has to see that benefit as an advantage. The advantages must meet most of the company’s requirements for the initiative of getting a payroll software to work for a company.
Most payroll systems will promise you three things:
One. It will solve all your payroll headaches,
Two. Compute payroll accurately* and fast, and
Three. It won’t cost you an arm and a leg.
The “*” on accuracy is there to denote its relativity. Accuracy is defined by my handy-dandy Merriam and Webster dictionary app as, “freedom from mistake or error”. “Exactness”. This means precise 100%. No more, no less. However, the truth can be a bit confusing when you take in to consideration how diverse (read: “complex” and “complicated”) the Philippine payroll business rules are. And, don’t get me started with HR policies too. This diversity is what the payroll software should be able to encompass and overcome.
But before we drown on the “whys” of a payroll system lets review what benefits we can derive from getting one.
Efficiency in the process
Technology hastens the application of a process and provides accurate results in a timely manner. A payroll system provides companies a better way of computing all payroll related data in an efficient and secured manner. Once a payroll system is configured properly, (based on scoped requirements), users will be able to perform tasks, such as attendance log maintenance, scheduling, daily time record processing up to payroll generation and reporting.
Accuracy is what the employee deserves
The devil is in the details. And with the gamut of data churned every payroll process, a manual system usually misses certain information. At its face, it can be solved by a simple adjustment next payroll cycle. However, on a human resource level, by not receiving the right pay, a brewing discontent may be felt by the employee. This may lead to demotivation and ultimately to issues with work output.
Consolidation is what the manager wants
Imagine if you will, managing several companies and processing their payroll one after the other. Then management begins cost initiatives and need data on payroll and what aspect it can actually lower to optimize the payroll disbursement each month. A payroll system can do the consolidation, compare data, provide analysis and create reports.
Access is keyless entry
You know what’s great about Facebook, you can virtually access it in any digital platform and device. Whether you’re in the office, at home or out of town, you can be on Facebook on your laptop, tablet or phone 24/7. Now imagine this on a payroll system’s perspective. In terms of access, what if you can do your payroll at home or even approve leaves while you’re on vacation? What if you can process your payroll any time of the day? And what if your payroll data is just under your fingertips with a swipe of an app of your smartphone? Then probably with all these access points payroll processing would not be so much of a pain.
So, are you ready to make the jump? Take a step back. Review your requirements. Talk to your payroll master, then review the benefits. It’s that simple. Book a demo with us and experience a world of difference for your payroll need!