What are the benefits of automating a payroll system?
Automation enables your company to onboard, manage and pay employees automatically. An automated payroll system can reduce approximately 70 to 80% of repetitive tasks. In a way, HR staff would reduce unnecessary paperwork and costly mistakes in administration, allowing them to create more value-added responsibilities. Furthermore, the payback period takes approximately only 9 to 12 […]
What makes a good payroll system?
The ideal payroll software system should be simple to access and navigate with a clear and simple customer journey. You should also be able to customize the system to suit your particular business needs. Use this checklist to evaluate: • How long it takes my employees to learn and operate the payroll system? • Is […]
How do I know if my payroll system is secure?
Check the following to evaluate your payroll system: 1. Look for payroll systems with high certification standards 2. A payroll system that releases regular updates on product improvements 3. Software with a responsive customer feedback system that is focused on your company’s needs. Learn about AYP global pay payroll system
What is the average cost of a data breach in the year 2022?
If you overlook the importance of security, it may cost you a very expensive payment. According to IBM, the cost of an average data security breach in 2021 is USD 4.24 million, it further increased to 4.35 million in 2022. The cost has reached its highest over the past 18 years. Learn why SMEs experienced […]
Can you pay an employee in another country?
The traditional way for legally paying an employee in another country is to register the business and incorporate a legal entity there. Engaging a global Employer of Record is a faster, affordable, and risk-free approach. By doing this, you transfer your full legal liability of the company to the EOR as the legal employer stated […]
When should I consider changing my payroll system?
• Spending on multiple software to meet the legal requirements for employees in different countries. • Have experience paying for payroll tax penalties due to unfamiliarity with cross-country rules and regulations. • Lack of data visibility to make real-time business decisions. • Expensive forex and bank charges to pay salary across multiple locations. Get […]