The importance of payroll software in the digital transformation journey

Manual payroll systems can be tough to manage and error-prone, which can potentially have an adverse impact on a company’s reputation, productivity, and bottom line. Imagine having to manually maintain employee details of all employees every month, such as records for attendance, leave, salary/incentive, tax, and more. All while your workforce numbers change. This is not only a cumbersome process but one that is almost impossible to maintain with 100% accuracy! Additionally, any errors can be potentially costly as they could also lead to regulatory penalties or government fines during tax filing.

Also, payroll affects every employee in an organisation, and plays a vital role in determining their overall experience in the company. With employees getting increasingly tech-savvy, they have come to expect a tech-driven, cutting-edge payroll software service as a necessity rather than a luxury in any modern organisation. Accuracy and granularity of details, such as the reflection of overtime and bonus calculations in the payslip, leave balance and more represent signs of company transparency and digital progressiveness. All of which help contribute to higher employee engagement and satisfaction.

With payroll software, businesses can minimise the manual drudgery of payroll work through automated processes that are error-free, efficient, and effective. To not only foster positive employee experiences and create digitally driven environments, but also empower business owners to focus on other important aspects of their business, and push for more initiatives on its digital transformation journey.

Accelerate digital transformation with Access EasyPay

There are many reasons why businesses opt for Access EasyPay as the payroll software of their choice to help them on their digital transformation journeys. Here are some of them:

We are a market leading-payroll software

Today, our award-winning payroll management software is trusted by over 4,000 companies across Asia to deliver payroll tasks and processes, efficiently and securely. No matter the size of your business or industry, we cater to every stage of business growth and give you quick access to employer and employee details. So, rest assured that your business will be taken care of as it goes on its digital transformation journey.

We are compliant

For organisations with presence in different countries, complying with the different local rules and regulations is not only a time-consuming process but a laborious and difficult one as well. The cost of getting it wrong is high with potential fines and penalties from your local governing authorities over erroneous payroll return submissions.

However, businesses embracing digital transformation through Access EasyPay can make all these issues a thing of the past, with the software being compliant and up to date with local legislation in many Asian markets such as Singapore, Hong Kong, Malaysia, Indonesia, Thailand, Philippines, and Brunei, through frequent product releases.

Additionally, Access EasyPay is also compliant with IRAS's technical file format and specifications. Ensuring that the format of the files and records generated from the payroll software is accepted.

We empower businesses with unparalleled accuracy

Not having an accurate, agile and efficient payroll system can be a costly experience. Research has shown that 24% of people will start looking for a new job as soon as they experience a payroll mistake, with the figure rising to 49% for the second mistake. This can complicate employee recruitment and retention, in a time where having the right staff to effectively employ digital transformation strategies is more crucial than ever.

But with Access EasyPay automating the payroll process from end to end, it helps to minimise the errors and the chances of information being lost or a process being missed. Access EasyPay serves as the perfect foundation for employers and employees to better collaborate towards achieving company growth.

We provide powerful insights for decision making

Digital transformation is not just about utilising new technology. It is also about facilitating more opportunities for innovation. And with Access EasyPay, business owners gain access to a macro and micro view of their organisation to achieve just that. They can gather rich insights that can help their business make better and more progressive business decisions.

For example, payroll data can provide decision-makers with insights into the actual time and cost that go into operating the business. Giving them the opportunity to identify trends, spot and eliminate problems, and streamline costs.

Additionally, with Access EasyPay, business owners can easily integrate a slew of add-ons, such as an Employee Self Service (ESS) software, to name one. An ESS software empowers employees through a variety of functions, such as the ability to access their payslips and update their personal particulars anywhere, and at any time. It also assists managers with more effective team management processes by providing them with real-time visibility of teams and employee details, such as availability, leave schedules, and applications. All of which help managers deliver greater efficiency and value to the business.

Your business ally

Digital transformation can be a complex and challenging undertaking, particularly at the beginning. But the rewards are massive when done right. In fact, a 2017 Bain & Company report revealed that digital leaders in every industry actually outperformed their competition by a wide margin, and the pandemic has only further reinforced this notion.

Whatever the vision one has for their business, digital transformation must be part of the picture. Payroll may not be the first thing we think of when it comes to digital transformation, but the sheer impact it can have on a company’s workforce renders it central to any efforts. And for businesses embarking on their digital transformation journeys, Access EasyPay would be a step in the right direction.