4 Ways Cloud HR Tech can save a Fortune for your Startup
In today’s connected world, where business decisions are taken on the fly from smartphone devices, it is a flashing sign for small enterprises and startups to embrace novel and state-of-the-art technologies when it comes to staying ahead of the curve.
With that being said, most of the small enterprises and startups do have room for improvements in almost every business process/department and human resources department is no exception.
Human resources is undeniably the most important department in any organization be it small or big. In addition, processing payroll comes as the most critical responsibility for any HR department as well as its people. Unfortunately, several businesses still stuck in the ice age rely on old-school practices and tools when it comes to human capital management, which takes a huge toll on HR personnel eating up a huge chunk of their time and efforts.
Maintaining HR operations on daily basis is undeniably the most cumbersome thing if carried out manually or with some legacy HR tool. This includes filing taxes, computing salaries/taxes, attendance, etc.
Good news is that a good number of business owners particularly those of small enterprises are realizing the undeniable benefits of moving their HCM processes to cloud. Yes, cloud HR software allows you to access all the crucial HR data from anywhere and anytime on the run.
Here are four reasons a startup should ditch spreadsheets and move to a cloud based HRMS solution and save a fortune:
Bid farewell to payroll redundancies
For any HR department or personnel, the worst nightmare has to be payroll inaccuracies leading to payroll redundancies followed by irritated and unhappy employees. Imagine the dilemma of HR departments that have to go through such hardships every month. This can lead to huge loss of time and efforts whilst triggering unhappy faces in the organization. This is the reason a cloud based HR software comes as a boon to startups and SMEs, since the software automates the tedious task of attendance and time management paving way for error-free and redundant-free payroll calculations. Also, no need to indulge in cumbersome admin chores like managing heaps of spreadsheets for timesheet and leave management, as the software does it all.
Connect on the go!
Your HR can get into action while on the run from a smartphone or laptop. Reason being a cloud based payroll solution empowers HR people to manage and process payroll from anywhere and anytime on the fly. On the other hand, employee self service portal takes a huge chunk of load off the shoulders of HR, since employees can apply for day-offs, download payslips, check salary details, tax and other details on their own without ringing up the HR department saving time and efforts for your HR folks. Most importantly, for a startup that employs remote employees, a cloud based HR software serves as a unified platform making it easy for its HR to access key employee data from any given location and at any time of the day.
Easy on the pockets
Since you don’t have to shell out on any kind of hardware or other stuffs, cloud payroll software goes easy on your pockets. No need to shellout on additional IT crew or equipment, as your vendor takes care of all. Further, updates are no more a pain as well and your IT crew doesn’t have to execute them manually saving them time and efforts. Last but not the least, SaaS (Software-as-a-Service) based subscription plans makes cloud HR solution budget-friendly for startups and alike, no need to bomb your budget for efficient workforce management. Long story short, a cloud based HR software grows with your business. Eureka! Pay-as-you-go and only for the features/modules you wish to use.
A cloud based payroll software doesn’t require on-premise servers, since it stores all your critical HR data on cloud servers paving way for centralized and seamless payroll administration making sure that everyone stays on the same page thus, eliminating data duplication. Talking about recovering your data in the event of system breakdown or natural calamity, cloud HR solution is your way to go, since it stores and backs-up all your critical data on cloud servers that can be accessed at the click of a button from anywhere.
If you often find your HR department in troubled water surrounded by tons of spreadsheets and filing cabinets redoing payroll every month, then it’s probably high time your startup breaks up with legacy human capital management practices or tools and switch to a cloud based HR software for faster and intelligent employee management.
Anwar Shaikh writes about enterprise technology, cloud computing, virtual reality, artificial intelligence and all things technology. A self-made writer and tech fanatic, Anwar writes for Pocket HCM, a leading provider of cloud HR & employee management software to small and mid-sized businesses all across India.