Finance

Characteristics of a good payroll system

2 Mins read

In the last few years, a remarkable transformation has occurred in how we live and work. Automation, artificial intelligence, robotics, machine learning, social media communication, and cloud computing are some of the technologies that have enabled this change. Since the outbreak of the COVID-19 pandemic, digital transformation has only become faster, with almost all the business processes that can be managed electronically are now being run online.

As the employees work remotely or in a hybrid manner, they also expect to continue being provided with payroll support anytime, anywhere. Whether one wants to print a salary slip or check the amount of taxes deducted, it is no longer possible to visit an office or chase HR people for every small need. Even in organizations where manual payroll management is the norm, fulfilling routine yet time-consuming activities consumes a lot of HR bandwidth. Since most leading Malaysian companies already use advanced digital tools for almost all their functions, such as finance, administration, marketing, communication, etc. Therefore, it is high time that a world-class payroll system is adopted to manage employee payroll as well. Conventional ERPs or legacy accounting software isn’t enough.

payroll system

Using a modern cloud-based payroll system, a business can eliminate frequent and highly discouraging errors such as incorrect salary calculations, extra deductions, or surplus payments, which later cause challenges. Payroll errors can also lead a company to a situation where it faces legal problems due to missed compliance or other such issues. When you use a modern payroll system, you also get seamless integrations with Core HR, Time & Attendance, and Expenses modules. Let’s take a look at some of the main characteristics or features offered by modern cloud payroll systems:

  • Online payslips
  • Automated tax calculations
  • Integrated, cloud
  • Scalable
  • Local tech/support team
  • Superannuation processing
  • Parallel testing
  • Transfer of current payroll and staff data
  • Regularly updated in line with local regulations
  • Multi-element, multi-decimal, multi-currency, and multi-country payroll

There are times when in-house payroll processing proves to be time-consuming and complex. If you feel that the payroll processes are bogging your business by occupying too much time and resources, the best option is to go for a professional payroll services provider. Market-leading global payroll services companies are present in Malaysia, and they use top-of-the-line technologies and cloud payroll systems to give you several customer-centric services such as:

Automated 24/7 chatbot-powered helpdesk

The best payroll services brand utilizes AI-driven intelligent chatbots to address employee queries around Payroll, Leave, Expense, or Approvals.

Payroll automation

The payroll services providers also use advanced cloud software for operations, leading to easy payroll automation.

Easy self-service option

Such payroll services companies offer desktop or smartphone app-based employee self-service portals and various support channels such as Voice, BOT, Mail, and Mobile Support to process queries, service requests, etc. Such companies will use technologies with pre-built integrations with other leading HR/ERP systems. Thus, you don’t need to worry about upgrading your existing infrastructure or buying multiple new software. Go ahead and delight your employees with a truly digital payroll system experience!

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