More Companies in Asia are moving their HR and Payroll Process to the Cloud to Save Costs
It used to be okay for small companies to try and manage their payroll in-house. However, for a growing company in Asia, it no longer makes sense to do this or to rely on off the shelf payroll solutions with limited capabilities.
Attempting to manage payroll in-house with primitive technological support is really silly and downright impractical for a growing business. For businesses looking to branch out to new countries, the task quickly becomes too complicated, too time-consuming and too costly to justify.
In this article, we’ll be looking at cloud-based payroll processing and the benefits of switching to it from on-premise payroll. It may surprise you how much companies benefit from such a simple integration.
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What Is Cloud-Based Payroll Processing?
Cloud-based payroll is a flexible solution with ultimate connectivity. Payroll that is stored in a cloud can be accessed anywhere and at any time, as long as there is an internet connection.
There are many cheap and offhanded systems in the market, but a well planned out cloud-based payroll solution will be able to grow with your company. On top of being connected to leading third-party systems, it should also be able to manage a number of locations, giving you the option to branch out as required.
What are the Reasons and Benefits of Using Cloud-Based Payroll for Your Company?
There are many benefits that cloud-based payroll offers, but for the purpose of this article, we will be focusing that apply more to businesses that either:
- Already have an Asia regional presence but relies on multiple payroll solutions or,
- Growing rapidly and looking to expand their reach in the Asia Pacific.
Top 5 Benefits of Cloud-Based Payroll for Growing Businesses in Asia
1. Simple Asia Regional Payroll Reporting
The benefit of investing in a quality payroll solution is that it’ll allow for a more simple and accurate cross country reporting. A lot of the time, for companies relying on multiple payroll systems across different locations, the struggle is in managing time and various country-specific requirements.
A comprehensive payroll solution should serve a number of locations, covering for the nuances between different countries. When deciding on a vendor, clients need to make sure that the payroll solution has tailored features and fields, meeting the requirements of each servicing location.
2. Greater Data Security Offered by Cloud Service Providers
HR and payroll information is both sensitive and invaluable to a company. While processing payroll in-house can seem more secure, more often than not, limited care and attention are given to the actual safekeeping of data, exposing your company to risk of breach or data loss.
Contrast this to using a cloud service provider, companies benefit from the more robust system. With outsourced cloud payroll services, providers can dedicate more resources to making sure that clients’ data is properly protected.
Because outsourced HR service providers know that their reputation and expertise is on the line, a great deal of their effort will go into ensuring that clients benefit from the best security measures with the highest level of encryption.
3. Cost Saving Benefits with a Future-Proof Payroll Solution
For expanding businesses, when considering switching from on-premise to cloud-based payroll, the key consideration is often between implementation costs and maintenance costs.
While the implementation fees may seem like a hefty investment, with cloud payroll solutions, comes with it is the guarantee of a worry-free payroll solution.
Clients can forget about the processing, security, compliance, service and maintenance costs. Absorbed by the cloud service provider, businesses can easily budget for cost instead of having the financial burden of maintaining an outdated system present in traditional in-house payroll.
4. Minimised Risk of Error, Duplicates & Delays
Cloud-based payroll means you have 1 ultimate source of truth. Where in the case of on-premise payroll, particularly for businesses spanning over multiple countries, there is the risk of inconsistencies, delays, and duplicated data.
By having your payroll on a cloud platform, data and changes can be made and documented in real-time with little to no lag.
5. Streamlined Payroll Operations, Saving Time & Hassle
Connectivity is a key feature of cloud-based payroll. A unified payroll solution not only increases accuracy but also saves time. The accessibility of a cloud payroll means you always have everything you need all in one place.
Easily manage your reporting across multiple countries with one payroll solution. With everything right where you need it on one platform, you can save time going between systems and start managing your workforce.
Looking for ways to optimise your HR department? Check out Links One, our cloud-based payroll solution for all your HR and payroll needs.
Familiarise Yourself with the Service Offering
There are many different solutions and payroll service providers in the market. Before signing, protect yourself by getting familiar with the scope of each service. A good rule of thumb is to partner with a vendor that can take care of both your current needs and needs in the foreseeable future.
Integration with Third-Party Software
To futureproof your investment, make sure the payroll solution you choose offers secure integration with leading ERPs and global HCM platforms. This means in the future if you would like to create a full HR ecosystem and properly manage your workforce, you can.
In-country Support from Certified Experts
Secure your payroll, and make your experience more pleasant. Be sure to take note of your vendor’s level of service. What do they guarantee?
If you are integrating your payroll from multiple countries, make sure you have 100% in-country support by certified payroll professionals, securing your operations. As Links, we provide 100% in-country support payroll services to 17 locations across Asia Pacific. Check out our website to learn more.
Looking for an HR solution to elevate your function? Our consultants can help you. Get in touch now!
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Links International is an industry leader in innovative HR outsourcing with services such as payroll outsourcing, visa application, Employer of Record (EOR), outplacement, recruitment and more! Contact us for more information on how we can help leverage your HR function.