By Auto Count Team
Payroll management refers to the HR process of processing employee financial-related matters in a company, which often includes managing employee wages, taxes, deductions, and recording and reporting of all transactions related to employees’ compensation. This process requires a high degree of accuracy and actions which are compliant to legislation, regulations, and items such as income tax, Employees Provident Fund (EPF/KWSP), or Social Security Organisation (Socso/Perkeso).
Nowadays, most organisations have utilised payroll software for better administration and to streamline the payroll process. However, a newer version of a cloud-based payroll system, along with mobile enabled solutions ought to be a game changer for HRs who are utilising or looking for a payroll system.
Cloud-Based Payroll Software
What is cloud-based payroll software and how does it differ from on-premises software? Cloud-based solutions are hosted in the cloud which allows users access with whichever device is on hand to work on. Meanwhile, on-premises software are often installed within the user’s device in a physical location. Cloud payroll software is also able to promote a higher degree of collaboration, whereby the team members and accountants involved will be able to access payroll at the same time, without being limited to a single location.
Besides accessibility, one of the main advantages of a cloud-based solution such as the AutoCount Cloud Payroll is that it is self-updating. As all solution maintenance and updating are handled by the provider in the backend, each user login will be automatically directed to the latest version. In addition to promoting cost efficiency by minimising maintenance costs, this also ensures that the compliance requirement is always up to date.
As the company grows, does it mean that the user needs a more complex payroll solution? This might not be the case with cloud payroll as the systems are scalable. Businesses can easily add or remove users, features and modules to get the perfect system that meets their needs without having to spend more or switch to a larger capacity solution when the company grows.
In terms of security, in an on-premise solution the onus will be on the user to utilise user defined measurements such as firewalls or even physical safety features in the system facility on perimeter. On the other hand, the cloud payroll enables security by hosting the data on cloud servers, which only requires the user to log in to access the data. This often comes with additional factor authentication for added safety as well as data backups to reduce the risk of data loss due to failures or disasters.
Enabling Mobile Solution
Often, a cloud-based solution such as the AutoCount Cloud Payroll is paired with a mobile solution with supplemental features, such as enabling Employee Self-Service (ESS) which allows actions such as salary slip printing or EA form generation. The AutoCount Cloud Payroll even includes e-Leave application, e-Claims, and e-Time Attendance which is not only paperless but allows employees to clock in and out of contributing hours with advanced verification technologies to maintain fair and integrated data, thereby improving efficiency and accuracy.
While the on-premise payroll enables users to own the whole system and maintain it to keep it at its peak, whereas a cloud solution promotes a higher degree of flexibility and convenience, there will always be a solution that meets the needs of each user. Click here learn more about the AutoCount Cloud Payroll, a payroll system that is compliant with LHDN, EPF, SOCSO and EIS.