As per
findings, it has been noted that about 40% of medium and small-sized companies
usually end up paying a penalty on payroll every year. Such penalties generally
are because of filing errors or avoiding to deposit with holdings on time.
This
should not be shocking for you as calculating payroll for employees manually
may be a critical task. When you juggle among factors such as salaries,
employees’ wages, tax deductions, employee benefits, incentives, and others,
things often get complex. Additionally, every country has its own set of tax
regulations, and missing such details are possible.
Running a
company is a tasking process and may get expensive if your calculation for
payroll is incorrect. However, thanks to the advancement in technology that it
is now simple, easy, and smooth to conduct your payroll calculations.
A
cloud-based payroll system has made it possible for you to calculate employees'
payroll, thereby preventing the organization from facing morbid losses. Here
are some benefits of using cloud-based payroll system:
Value for
money
Cloud based payroll system is automated, which eliminates the need for manual calculation
for compensations, incentives, loans, taxes, etc, thereby saving huge effort
along with time for your companies HR.
The HR
only requires running a command and all calculations will automatically take
place. This also lowers redundancies and inaccuracies, which is prone to happen
if you calculate manually.
Connectivity
Easy
connectivity from any device from anywhere is one of the biggest advantages of
opting for cloud-based payroll. Moreover, the ESS portal for the employees
allows them to access and also update their information on their own, which
saves substantial time and effort for the HR crew.
With the
assistance of the ESS portal, employees can also easily download their monthly
payslips, check their balance leaves, request leave application, tax details,
TDS information, etc.
Such
connectivity is usually helpful for the businesses situated at different
geographies because such a unified platform makes the employers and business
employees access the required detail from anywhere from any device.
Read Also | 5 Benefits of using DynaPay Payroll
Environmental
friendly and economical
Using a
cloud based payroll technique for calculating payroll, makes you go paperless, thereby
lowering your carbon footprint. Also, you do not require getting apprehensive
with the upgrades because they get automatically triggered by the vendor’s end,
which saves your IT team from substantial work.
Customizable
With the
help of pocket-friendly subscription models, you simply get to choose what
matches your business best. For businesses having special requirements, with a
cloud-based payroll system customizing any solution is not difficult.
Execution
Unlike
online-based premise solutions, the execution and implementation of the
cloud-based payroll system are easy and simple which lowers your business cost
by a big margin.
Excess
space facility available
As all the
data and information are stored in the cloud, you do not need worrying
regarding the data recovery in times when your system crashes, etc. As
information is saved in the cloud, you can easily access it from any electronic
device from anywhere.
Read Also | Useful Features of Dynamics 365 Business Central
Systematic
filing
As all the
information is stored in the cloud, all information and data are gathered in a
systematic manner, available whenever you require it. Thus, there is no
requirement to get into cumbersome paperwork.
With DBS
get full access to DynaPay for Dynamics 365 BC
DynaPay for Dynamics BC is a HR and Payroll management system offering
the employees record payroll calculations, management & document management
that includes expiry reminders.
Being an inbuilt model using development tool known as AL, it leverages
complete functionality of Dynamics 365 Business Central that includes
notifications, workflows, attachment of documents and many more. Lastly,
DynaPay BC is a microsoft cloud hosted model helping HRs to easily access this
application from any location from any device at any time.
Moreover, employees too can log into their ESS portal from any location,
from any device at any anytime to apply for documents or leaves.
To know more, speak to our expert at Dubai: +971 4 447 5525 Abu
Dhabi: +971 2 222 2100 or inbox us your query at dynapay@dynamics.ae
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