How self-service payroll can boost your business in Africa
A self-service payroll system can help modernise your business and enable your team to achieve more in less time, says Bruce van Wyk, director, PaySpace.
Markets in Africa are becoming increasingly competitive as foreign businesses expand their operations across the continent. To survive this modern business world, efficiency is key. Productivity and profits typically go hand in hand and yet, many companies still manage their payroll and HR processes in an almost mediaeval fashion.
A self-service payroll system can help modernise your business and enable your team to achieve more in less time, says Bruce van Wyk, director, PaySpace. Here are three of the most important benefits.
1. You save time
Time is money and HR and payroll processes are infamously repetitive and time-consuming. Administrative tasks, such as manually updating leave requests on an Excel spreadsheet, are laborious and prone to human error. Plus, most payroll queries are channelled through the HR department which can be very interruptive and waste valuable resources.
With a self-service payroll system in place, your company's employees can directly access their work and personal data online whenever they need to. The information is available to them 24/7 from any mobile device. They no longer have to contact you to find out if a leave request has been approved or to request a payslip for bank or insurance purposes. They can do it all themselves. Manual mistakes are also a thing of the past so there's no back and forth trying to fix incorrectly entered data - information is regularly updated automatically and correctly.
This will give you and your team much more time to focus on business-critical tasks like succession planning and compliance. You'll now also be able to generate accurate data reports in real-time - rather than only at month-end.
2. You can access information quickly
A cloud-based self-service payroll solution is ideal for multinational companies with employees based in multiple locations around the world. Employees and their managers can instantly access the information they need without having to go through the HR department - or worry about various geographies and time zones.
Team leaders who may be based in, or travelling to, a different office to their reporting staff can use the self-service portal to view or assign certain tasks and track progress. Their staff's leave balances, payslips, performance reports and claims are all directly accessible. This means that you and your HR team can focus on more strategic projects like the company expansion plan, without getting constantly interrupted with requests.
3. Say goodbye to paperwork
A cloud-based payroll system can record employee leave, training schedules, expense claims and payslips. HR and payroll teams no longer need to manage this manually. Timesheets can be updated and submitted electronically and an online calendar can house your entire company's leave and training schedule for easy viewing. Your payroll software will simply access employee data and populate the fields - plus keep them updated as information changes. In other words, you'll never again have to search shelves of lever arch files to find the document you need to fill in or update by hand.
All employee related documents such as education qualifications, training course certificates, identity documents, work contract, curriculum vitae and medical files can be stored electronically in one central, cloud-based location via the self-service HR and payroll platform.
Efficient businesses are moving their operations to the cloud. HR and payroll functions need to be migrated too - the benefits are just far too good to ignore. With all the time-consuming administrative tasks of employee management under control, you and your team can concentrate on helping your company achieve its strategic growth objectives.