Only The Best Payroll System
Alchemy is an authorized re-seller of HR payroll software. The software is cloud based and comprehensive and simple user interface.
It is easy to implement and mostly important it is cost effective.
HR Meet Payroll Software
Although payroll deals directly with compensating employees for their hard work, human resources works alongside employees to maintain stable relations. You may think these departments are not connected, but that is not the case.
Many functions between HR and Payroll are actually shared, and so by integrating HR into payroll through payroll software and payroll system, reports can be consolidated and simplified for everyone involved.
The payroll of an employee or any number of employees is actually directly affected by the decisions HR makes in the following:
- Salary increase or decrease
- Bonus payments
- Benefit deductions
- PTO and holiday packages
Furthermore, HR has to remain aware of what is going on in the Payroll department. Because Human Resources has to know when payments are being processed and so on, should any employee have a payroll issue, HR is the first place they go. Both departments know sensitive employee data, like financial information and home addresses.
Why Payroll Software is Necessary
Administration is undoubtedly a chore. Despite having adequate communications between HR and Payroll, your efficiency may still be plodding along. Worse, if someone makes a mistake in calculations, for example, this can cause undue stress on the entire company. A Malaysia payroll software and payroll system can be the ultimate solution for time management, accuracy, and peace of mind between both departments.
Here are the reasons payroll software is necessary:
- Affordability – After all, what is more of a hassle? Having a number of people calculating employee hours, wages, and taxes by hand and making an error, or purchasing a software program that manages all of that for you? Payroll software programs are a wonderful investment for companies, regardless of how large or small that enterprise may be. Plus, payroll software is the ultimate bookkeeper and accountant.
- Cloud services – Many software programs offer cloud databases that put employee information, payments, calendars of paid-time-off and absenteeism, and all worthwhile information in one place. That means HR and Payroll have direct, instant communication no matter where they are in the building, city, or world.
- Report compilation – At the click of a button, you can have detailed payroll reports. The other thing is that within those reports all tax updates and new regulations will be automatically applied.
In short, payroll software unifies HR and Payroll correspondence so control can be maintained and operations can proceed in a timely manner.
Thing to Consider
When you are ready to choose a Malaysia payroll management system, remember that not all payroll software is designed with Malaysian companies in mind! Also, you are going to want to look for one that is infused with security measures. For example, ask if the payroll management system software and data can be password protected and encrypted.
See if the cloud services have advanced precautionary measures. In an age where cyber crime is increasing, you want to make sure all employees have their valuable information protected. Next, consider compatibility and flexibility. If the payroll system cannot be integrated into other programs you may have, then you may run into some problems transmitting data back and forth.
The ideal Malaysia payroll software system is one that gives both HR and payroll control of historical information, saved data, and reporting from reliable networks. Lastly, credibility. A reputable software maker that is backed by well-known international businesses is going to be the best choice for your business.
Payroll and HR are interconnected. One cannot function without the information passed over from the other. When you are trying to grow your business, productivity is key – which is exactly the aim of payroll software. Plus, any errors in payroll may cause legal issues for the company. In that sense, bringing in payroll software makes the function of both departments run more seamlessly.
So, HR, are you ready to meet payroll software, your new best friend? Get in touch with Alchemy Resources for more info now.