Since the GDPR (General Data Protection Regulation) has standardized the data protection law, the electronic or e-pay slips have benefited the companies significantly. Yes, these e-pay slips make sense to the companies by providing a GDPR compliant way of handling the employee's pay data. It is because of these electronic payslips that data protection, as well as management, have found an easy and safe way. Apart from being an easily readable format, these payslips are easy to store for years.
Monetary benefit: Saves money that is generally spent on printing the payslips.
Earlier the payslips were printed on the paper and were delivered or couriered to the concerned employee. This included a lot of writing, printing and delivery costs. Since the companies have started using the Payroll software, the payslips are delivered online as an electronic document. This saves the printing, paper as well as delivery cost to the companies at large. According to the CIPP annual payslip statistics report 2017, around 80% of respondents have reduced costs by switching to electronic payslips. The savings are incredible. This is one of the significant benefits of acquiring payroll software for the company.
Saves time and effort: Delivery of the payslips have improved
There is no comparison between paper and electronic payslips. When the payslips were delivered hand to hand or by courier, it wasted a lot of time and energy. The company's HR department has to maintain the physical payslip in the office if the employee is absent or not available. The payroll software delivers the payslip online through an Email or an Employee Self-Service portal. This makes the process quick and more innovative and leaves a record in the particular email account of both the parties for the lifetime. Isn't that a brilliant idea?
Environment-friendly: Saves paper, saves trees
We all love celebrating World Environment Day by posting intelligent and ideological status on our social media accounts. Still, are we helping the environment in any way? If you or your company are supporting the electronic payslips over the printed ones, you are helping the environment in a better way.
The payroll software saves paper printing costs as well as resources. This is incredibly a beautiful side of acquiring the benefits of payroll software.
Storage space is enhanced: Records are maintained efficiently.
Storing the undelivered or uncollected payslips can make a huge mess inside the office. Well, with the payroll software delivering the payslips is an easy as well as quick task. The records of all the employees for all the years are maintained online with the help of the software. The updated payroll software even offers a data backup guarantee, which is a BINGO! Since all the information is stored online, access to information becomes accessible. This is one of the most systematic ways to keep the employee pay data.
Brain Payroll has developed online payslips, which is secure and offers benefits to both your clients and their employees.
Benefits to your clients
Benefits to employees