Benefits of Paperless Payroll Management in UAE
Businesses are seeing big changes in 2016, and “going paperless” is one of them! Owing to the continuous acceptance and development of cloud based computing, increasingly more and more organizations are weaning off paper and shifting to the reliable, organizational benefits of web-based payroll management in UAE. In addition to cloud based storage resources, such as Dropbox and Google Drive, payroll management in UAE is becoming the fastest business practice to go paper-free, and here’s why:
Why Paperless Payroll Management Is Better?
If you have plunged forward to start a new business venture and follow your aspirations, it goes to show that you have a real passion for what you do. However, certain redundant aspects and tasks of operating a company might not fall under your expertise, and suck the joy right out of the pleasure of business ownership.
One such task is managing your business’s payroll! Whether you own a mid-sized business and thinking about handling the payroll management yourself, or you own a fortune 500 firm significant enough to integrate an accounting department of its own, opting for an automated payroll management in UAE offers commendable benefits.
Benefits for the Company
- It eradicates the need to phone, fax, or print time sheets to a payroll provider.
- It allows you to keep all employees payroll data in one place.
- No separate trips requiredtodropoff paychecks or forms.
- The payroll can be processed from any device and at your convenience.
- Federal and state tax payments and filings can be automated to ensure compliance.
- Allows easy collaboration for tax preparation purposes with your accountant.
- The employers can tout their company as being “eco-friendly” and “green”.
- Business overhead costs, incurred due to ink cartridges, toners, printers etc. would be greatly reduced.
- Paperless payroll can reduce waste and paper in the office.
- Conducting business matters in a mobile environment ensures faster and more efficient results.
- It alleviates the need for spacious filing cabinets, thus increasing the usable space in the office premises.
- Securely backs up your employee and management payroll data.
- Cuts down the time your employees waste searching for documents.
Paper-Less Benefits To the Employees
- Funds are available immediately on the pay date
- No more waiting in long line at the bank to deposit paychecks
- Paystubs are available 24/7 online
- Staves off worries about stolen or lost paychecks
- Alleviates the need to come to work on a holiday, only to pick up a pay check
- Fewer payroll errors and mistakes
Benefits to the Environment
On average, businesses waste an unbelievable amount of paper daily, with a large portion of the usage trailing back to the processes of payroll management, paying taxes, and filing government forms. Imagine how much paper can be saved if more and more enterprises adopted paperless strategies. Going paperless is not some aspiration for the future, but how businesses should be running right now!