The primary reason that employees join a business is to earn money. Thus, it is an essential requirement for businesses to ensure that all their workers, whether domestic or located internationally, must be paid on time, and every time. However, payroll management is not just about paying salaries, but, in modern times, it encompasses a lot of related tasks such as time and attendance management of the employees, their taxation management, filing of returns and so on. Simply said, payroll processes are complex, diverse and cumbersome yet absolutely critical for all businesses small or big. Thus, companies in Malaysia are increasingly looking at payroll outsourcing firms that adopt best practices of payroll management and provide the desired benefits.
While there is no lack of such companies, it is important to analyse in detail the various benefits that a payroll outsourcing firm offers you. Familiarising yourself with these benefits would empower you to select the right payroll company for your needs. Let’s take a look:
AI chatbots to power the helpdesk – Best in class payroll outsourcing companies are now integrating conversational AI into their employee helpdesks. These smart chatbots can easily and promptly respond to basic payroll, leave, expense and other queries from the employees at any time, even when the office is closed
Automation of payroll – You an get rid of the human errors caused by monotonous and complex payroll calculations as the payroll outsourcing company would automate the calculations with AI-driven tools that help in data validation and anomaly detection
Hassle-free employee self-service portal – In the modern era, employee satisfaction has become a key criterion to retain the talent. With the pandemic impact, companies are focusing on enhancing their employee experience. This is where a world-class payroll outsourcing company would offer a cloud-based employee self-service portal that can be accessed anytime, anywhere. Equipped with Voice, BOT, Mail and Mobile Support to process employee queries, service requests, and ability to deliver SPOC instructions for faster resolution of the queries, such a system makes things a lot smoother for the employees across all the locations
Power of analytics – Modern payroll companies use advanced payroll software with integrated data analytics capabilities. These systems are able to generate accurate and actionable insights that help in payroll process improvement and enhancing the employee experience
Integrations with 3rd party software – One of the primary challenges that companies face while switching to payroll outsourcing is the lack of compatibility with the existing on-premises software. However, a company that uses cloud payroll software would offer seamless pre-built integration with other leading 3rd party software such as ERP, time and attendance management system, accounting software and so on.
In case you are not keen to share your employee data or other information with a third-party company, you can also license a payroll software, and ensure error-free as well as fast payroll processing in-house. Since the best payroll software would be cloud-based, you won’t need to spend much on infrastructure or hiring of personnel. The software would take very little time to set up and will function with minimal programming or input from your side.
Go ahead and give your HR the freedom from payroll challenges, and provide your employees another reason to enjoy working with your company!
