Payroll Software – The New Normal for Australian Businesses
In sync with the digital age, Australian businesses have tremendously evolved technologically. Today, the usage of smart devices, social media messaging and cloud computing processes has become the new norm in areas such as communication, sales & marketing etc. With such massive digitisation underway, it is natural for employees to expect anytime, anywhere access to information related to their payroll as well. This is where a large number of Australian companies had traditionally dragged on digital integration. However, now it is being increasingly accepted that the speed, accuracy and quality of payroll services is of utmost importance to employee satisfaction and productivity. Thanks to the ever-growing presence of global payroll brands in Australia, people are now aware that advanced cloud payroll software can provide them the desired comfort that they expect from their employers.
By deploying an advanced payroll software, any company can fulfil the objective of paying the right salary at the right time to its entire workforce, even the employees working remotely or overseas. Not only that, a leading cloud payroll software would be compliant and automatically take care of the frequent payroll updates issued by the Australian tax authorities systematically. Going beyond salary processing, the solution would offer integrations with Core HR, Time & Attendance and Expense modules to deliver a holistic experience. Here are some of the most important features of an Australia specific payroll software:
- Online payslips
- Automated tax calculations
- STP compliant
- Ability to create rules based on modern awards or Enterprise Bargaining Agreements (EBA)
- Integrated, cloud
- Local tech/support team
- ATO certified
- 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
Most Australian companies that internally handle payroll today keep facing challenges because payroll management is not their speciality. Limited human resources or cost concerns might have compelled companies to bear the payroll hurdles. However, what is needed is an understanding that by not using advanced tech for payroll management, businesses suffer direct and indirect losses such as penalties, drop in employee productivity and retention etc.
In such a scenario, the ideal solution would be to outsource the processes to a professional payroll management services provider. With the pandemic having altered the way we work, outsourcing payroll can free up a lot of human resources which the business can utilize towards accomplishing its primary objectives. Further, a professional payroll management services provider would offer numerous benefits such as:
Automated 24/7 chatbot powered helpdesk – AI-driven smart chatbots address employee queries around Payroll, Leave, Expense or Approvals
Payroll automation – There is no need to worry about payroll errors anymore as any leading payroll management services provider will use AI-based automated payroll solution that eliminates human error
Easy self-service option – Employees can get superior self-service support (Voice, BOT, Mail, Mobile Support to process queries, service requests, deliver SPOC instructions for speedy resolution
Not only that, the payroll management services provider will offer pre-built integrations with other leading HR/ERP systems that ensure seamless data flow and complete comfort for the employees and the HR. This is the new norm of payroll management in Australia and if you wish to gain an edge over your competitors then an advanced payroll software experience is what you need.
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