The world changed after 2020. Where most worked from an office in 2019 and prior, a large part of our workforce is now working remotely. This has in turn changed the technologies and methods utilised to perform many tasks and processes. Payroll is one of the processes
that has undergone a change. Where one previously had to be at the office to access files and perform payroll, one can now do it from home, or anywhere that provides a payroll administrator with a stable internet connection.
This change has been made possible by the development and implementation of cloud payroll.
In this article, we will discuss cloud payroll in South Africa by explaining what cloud payroll is and exploring its vast and various benefits.
What is cloud payroll?
Cloud payroll makes use of the cloud to perform any and all payroll duties and processes. All information required for payroll is stored on and can be accessed on the cloud. Therefore, one can access this information and the software from anywhere across the globe, as long as one has a stable internet connection, and has been granted necessary access to the software. Whether one needs to onboard new employees, run monthly payroll cycles, or make changes to current employee data, it can all be done remotely.
The benefits of cloud payroll
There are a variety of benefits that cloud payroll can offer a business that will ensure payroll is performed more efficiently and accurately while maintaining a higher level of compliance. Some of these benefits include:
- Scalability: Cloud payroll software can be utilised in businesses of any size. Whether you have a micro business or a large corporation, the possibilities of this software are endless. Depending on the size of your business, the cost of this software will typically be adjusted. This allows for a large amount of flexibility, allowing businesses to grow with ease.
- Cost Efficiency: Legacy systems, located on the company’s premises are expensive to install and maintain. Cloud payroll software, however, is much more cost-effective. All that is required is a monthly subscription, which will give you access to all of the online systems that are required. This monthly sum will be determined by the number of employees loaded into the system.
- Easy Implementation: Switching over from a legacy payroll system to the cloud is surprisingly easy and seamless. Previously, changing one’s payroll system would not only be complicated, but it would also be expensive as it would require new hardware. Today, all that is required is moving one’s data and a monthly subscription fee.
- Security: The cloud is an extremely safe place to store one’s data. The only way one can access this data is if a user has access and the correct password. Limited access can also be granted to certain individuals, ensuring that no person ever sees anything they should not.
- Accuracy: Cloud-native payroll software has an element of automation that is granted by Artificial Intelligence (AI). An example of this is the way in which cloud payroll software is able to perform calculations for you. Therefore, all a payroll administrator needs to do is enter the data required.
- Efficiency: This level of automation increases the efficiency with which payroll is performed. From leave to overtime, and even salary deductions, cloud-native payroll software will do it all for you. This will drastically reduce the time that is required to perform payroll with legacy systems.
- Compliance: Cloud payroll software has legislation built into its software and systems. It will also automatically update any legislation as it changes. This will ensure that your business and payroll process is always up to date with the newest legislative updates, without a payroll administrator having to attend a seminar or research any changes. This will prevent any legal complications from arising in the future.
- Real-Time, Centralised Data: Cloud-native payroll software has a centralised database that can be accessed at any time from anywhere, as long as you have the necessary clearance and internet connection. This database is also consistently being updated as cloud payroll software offers real-time data features.
- Employee Self-Service: Employees are able to receive limited access to a cloud payroll system. This access will allow them to download payslips and any other information or documentation they might require. This will allow them to do so remotely and at any given time. They will, therefore, not have to burden a payroll administrator with their requests.
The best cloud payroll for your business
There are a variety of cloud payroll software providers available in South Africa. However, it is important to ensure that one opts for one that is comprehensive, easy to work with, and provides extensive support to payroll administrators. PaySpace is a cloud-native payroll software that does just this. They offer all the features and benefits mentioned above and more. They also provide extensive support and the system is easy to implement and utilise. No official training is required to utilise this software effectively.
The best cloud payroll for your business will ultimately depend on your needs and requirements. However, it is advisable to opt for cloud-native payroll software that has all of the features you could possibly require as this will give you the freedom and flexibility to expand your business and systems as you need them.