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Saturday 05 Mar 2016

Reasons to Opt for Payroll Software in UAE

There are a number of necessary tasks a business has to perform to keep running smoothly but which don’t necessarily add to the bottom-line. The process may not necessarily require any particular talent or skill but you need to have someone there to complete the task and on time, the foremost of which is payroll. Payroll is a necessary HR function for any business, because your employees have to be paid on time, with the relevant adjustments and amendments made. This is where Payroll Software in UAE can come in useful.

Calculating payroll taxes on spreadsheets is a time-consuming and tedious task. As your company grows, you need to find alternative solutions. An automated payroll system enables employers to process payrolls through a computerized system in a fraction of the time it would take to do the same by hand or using an ordinary spreadsheet. Using payroll software minimizes the risk of errors and makes the process simpler as opposed to using a manual system. There are numerous reasons why MenaPay is the best Payroll Software in UAE:

  • Whether you run a small or thriving business in the UAE, MenaPay is a sophisticated solution for all your payroll needs. The system allows companies to manage payrolls in various parts of the world according to the local tax systems and rules so you do not have to spend countless hours manually calculating taxes.
  • The automated payroll software offers unique features that can perform all types of computations, including bonuses, overtime, commissions, auto payments, etc. The software also eliminates the need for manual paychecks as it automatically generates paychecks and stubs on time.
  • Apart from calculating paychecks, the payroll system can also be linked to the company’s timesheet system. This aids in time recording and automatically records employee’s attendance, including the time spent at work. This crucial information can then be automatically transferred to the payroll system, making payroll calculations a less time-consuming task.
  • Using payroll software is becoming a necessity. Depending on the location of your business, employers are required to calculate welfare, benefits, and income tax. Calculating these taxes manually can be a perplexing task and increases the risk of errors. Luckily, things become easier with an automated payroll system, as the tax rates are hardcoded into the system. This reduces the risk of errors and eliminates the need for you to hire a tax expert.
  • Depending on the kind of organization you run, you want to save important data about your employees, such as their records for annual leaves and total number of hours worked. Using Payroll Software in UAE eliminates the need for you to use a separate software package. The payroll software will be enough to provide you with data regarding your employees’ attendance and the hours worked. This in-depth information about your business will help you make good decisions and will reduce wastage. In addition, the valuable data provided by payroll software provides forecasts, which helps you plan staff costs and budgets for the future, helping your company stay ahead at all times.
  • with payroll software, you get accurate time-related data for each employee. This way, you can monitor the efficiency of each employee and how productive they are. You can figure out if any employees are wasting their time at work and also determine who the most productive employees are. By minimizing time wastage, you can bolster productivity, which will naturally have an impact on the growth of your business.
  • As mentioned, payroll is a menial task. However, the impact of any mistake in payroll calculation can be immense. There can be legal complications and there is also the risk of employee morale going down if the correct payroll is not generated and on time. Therefore, you cannot risk errors in payroll. Automating payroll will eliminate the risk of human error. This way, you can focus on the core aspects of your business instead of wasting your time dealing with issues in payroll.
  • Using Payroll Software in UAE, you have accurate data related to employee costs. This way, you can project costs for the future as well. This will help with budgeting in the long run, which is crucial for strategic long-term planning. Obviously, it will determine the future course of your business and whether or not you are able to achieve the goals you have set.

These are just some of the reasons why your company should opt for Payroll Software in UAE. It’s time for you to drive your company to success with MenaPay!