What is a Payroll Software?

A payroll software is an all-rounder software application designed to handle the entire lifecycle of payroll solutions and operations in an organization. It brings the entire end-to-end payroll process under one roof so that organizations can manage multiple process simultaneously. A state-of-the-art payroll system can streamline salaries, record keeping, market insights, taxes, and compliance at the same time. This reduces manual effort, paper-people error. Most importantly, it addresses the need for paid resources billed on the company time.

How Does Payroll Software Work?

Payroll processes tend to get complicated and strenuous when done manually. That’s why most companies, big or small, prefer outsourcing payroll to professional payroll solution providers. These third-party payroll experts bring the perfect combination of industry knowledge and technology by providing a seamless payroll software. That means, this software can easily integrate with the existing system. Both management and employees have access to this software. They can view, engage, and automate operations from any part of the world.

A robust payroll software easily configures with the existing operational or payroll module with automated services, ensuring everything from compensation calculation to tracking employee productivity is available under one big umbrella.

What Are The Key Advantages A Payroll Software Can Provide?

Businesses processes today are as complex as it gets. There are multiple operational tiers. Add in multiple employee compensation models and iron-clad security systems integrated to prevent phishing or data loss. At a time like this, the automation benefits provided by a world class payroll solution can not only simply the entire payroll process, but also streamline manual effort a great deal.

In a nutshell, here are some of the benefits a payroll software brings to the table

• Automation is no longer a thing of the past. Today, organizations use automated services to efficiently complete simple tasks too. This gives them an added advantage where they can save company time and cost and still get the job done! For instance, you can use the automated payroll process to on-board new employees Additionally, you can also ensure they are incorporated in the system with all their details automatically updated in the system.
• Outsourcing payroll gives you another major advantage. Instead of settling for physical records, you can use a cloud-based payroll solution that keeps all the data handy and safely stored for easy access. You don’t have to worry about sifting through dusty files or accidentally losing valuable data due to a computer error.
• Payroll software is always on the run, looking for new regulations, modified compliances, and updated rules. Employment and tax rules can change anytime. Wouldn’t it be nice to have these changes automatically integrated to your system without process delays coming in between?
• Above all, a stringent payroll process automated through software will be the most accurate and efficient way to calculate complex actions like salary deductions, tax deductions under different sections, hourly billing of clients, and more.

Payroll Software For Organizations

Outsourcing payroll is the new trend these days, and for good. Multiple organizations from small to mid and even some larger corporations rely on payroll software, and here’s why-

• Cost-efficient- Outsourcing your payroll process and integrating an automated software into the system will any day be less expensive than having an in-house team. Hiring the right people, appraisals, ensuring their productivity is always at peak is no easy feat.
• Accuracy- One of the reasons why organizations prefer payroll software is because of their strict attention-to-detail. Accuracy and efficiency are driving factors for tangled processes like payroll and that’s where these automated genies really shine.
• Better Market Insights- With automated processes, companies can gain better business objectives, track and compare past outputs, analyze business predictions, and overall improve their industry insights.
• Iron-clad Security- We understand outsourcing payroll means handing over sensitive company information to strangers. But with veteran payroll software service providers, that’s not the case at all. Creating a place for yourself in this competitive industry requires a lot of trustworthy relations and goodwill and that’s why safeguarding confidential data becomes an irreplaceable attribute for professionals.
• Enhanced Record Keeping- When you have a business to run, documenting every little detail, every miscellaneous expense, frequent regulation modifications can be tough. It’s not unlikely to miss out on crucial details. However, with an automated payroll software at your service, you don’t have to burden yourself with the manual labour of filing and documenting.
• Improved Productivity- With strenuous and lengthy jobs like maintaining a robust payroll process taken care of, a business can focus on more core objectives. This can lead to a sharp increase in productivity and output.
• Simplified Approach- Nothing says simplification better than a meticulous payroll software that juggles multiple complicated business processes and makes it look easy while doing so.
• Tax and Regulation Calculation- Having a payroll software eliminates the need to keep an eye out on tax calculations, regulation updates, and more. A payroll process easily integrates with the system so all your tax deductions, merges, and more will be automatically taken care of.

Payroll Software For Employees

A payroll software does more than just benefit the organization. Thanks to the state-of-the-art payroll software, employees can enjoy benefits like-

• Salary payment on-time, every time.
• Easy access to their personal data, history, performances, and appraisals
• One click access to update personal information, set work place goals
• Knowledge of operational changes and how to integrate them to the system
• Easy understanding of tax calculations, salary structure, compliances, and more

What To Look For In A Payroll Software Service Provider

If you have given outsourcing payroll a good thought, here are a few parameters you should look for when you choose a payroll service provider for your organization.

• Look for payroll solution providers who have worked with your industry or your business module before. This will make integration into your system easy.
• Payroll software that can provide additional business intelligence and forecasts will be a great support system for your business.
• Make sure the payroll process you’re opting for has a concrete security and safety system in place to protect confidential information.
• Always discuss costs and scope of service before signing a deal. You don’t want to be weighed down by hidden costs.
• Before opting for a payroll solution provider, factor in the software integration, ease of use, technical support when required, and other usage factors for an effortless integration.

What’s The Future Of Payroll Software?

The skyrocketing diversity in payroll and operational processes are growing each day. The competition to be the best business out there is steep too. Factoring in these parameters, industry experts believe automation and the use of payroll software is going to be a need, rather than a want, in the near future.

Adapting to the automation process and outsourcing payroll to experts who can tactfully operate and maintain this software could be the stepping stone to organizational success.

Main Source: This Post “What is the payroll tax in Thailand?” appeared first on “CloudForce HR“

What is the payroll tax in Thailand?

The latest development in recruitment has brought quite a few modifications to how things used to be. We went from manually hunting down cream candidates to allowing smart digital algorithms find the best fit for our company. We automated our process and made the complicated, time taxing process of payroll smooth and easy with verified Payroll Software providers. One such Payroll leader operating from their base location in Bangkok, Thailand is CloudForceHR- a stunning, professional payroll service provider that allows entrepreneurs and SMEs to connect with the untapped talent pool that can help them empower and expand their ventures.

But, here’s an important question? Why Thailand? Because Thailand provides a premium ease in the process of recruitment and staff management where the best interest of both the employers and the employees are taken into account when they draft their payroll system. For instance,

1. Did you know, employer taxes are the lowest in Thailand? The average payroll tax in Thailand is somewhere between 5.20% to 6%. Additionally, the payroll or tax year starts from January 1^st every year and ends at December 31
2. Apart from the income tax, employers in Thailand can use advanced payroll systems to remit other payroll taxes such social security which is a mandatory parameter when it comes to employment in Thailand. The Social Security percentage is determined by the employee’s wage and the employer-employee contribution.
3. The base tax rate of 5% only applies to employees earning between THB 150,000 to THB 300,000. Employees earning lesser than THB 150,00 are exempted from the tax bracket.

As one of the leading payroll service providers working globally to help businesses establish their endeavor with the right operational processes in place, organizations like Cloudforce HR are known for their iron-clad payroll system that includes everything from taxing record keeping to salary disbursements, multi-tier compensation calculations, payroll regulation updates, and most importantly, payroll tax and compliance.

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Modern Payroll Outsourcing Meets Traditional Values

Payroll Processing is no bed of roses. From meticulous accuracy to timeliness, the term payroll is considered an umbrella term that houses multiple, intricate processes underneath it. This requires professional level efficiency to avoid paper people errors, deadline pressure, and more.

At CloudForce HR, our payroll outsourcing company believes in building foundations based on a strong tech backbone backed by traditional values that can transform into goodwill and trustworthiness- the two key pillars of a reliable payroll company. Maybe, that’s why we employ some of the latest tech advancements to your payroll system.

Today, we are going to list some of them for you to help you understand our working module better-

Electronic time card software

One of the prime benefits of signing up with a payroll company is that you can take advantage of their electronic time card software. This software helps you keep track of your employees’ work hours and pay rates. It can also help you calculate payroll taxes and other deductions.

Payslip software

A payroll software is more than just a calculator for your payroll processing. Automated payroll processes can not only calculate the details but also record the differences, break down the expenses, track down the pain areas, and anticipate market changes. In fact, incorporating an automated payroll software means never having to manually take care of your payroll ever again. From tax calculation to compliance update- your payroll software will be equipped to map all the modifications and implement them in your system.

Automatic wage slips, expenses slips and audits

If you’re considering outsourcing your payroll to our payroll company Thailand, one of the big benefits that you can reap is automation. This includes creating wage slips and expenses slips, as well as dealing with any audits that come up. This can take a lot of pressure off your HR team, and free them up to focus on other tasks.

Meeting Traditions

While there are many off-the-shelf solutions available, you may want to consider outsourcing your HR payroll to a professional company. Now when it comes to professionalism, CloudForce HR’s team of hand-picked payroll maestros will never disappoint. Our Thailand payroll service believes in matching expectations and that includes 100% transparency in everything we do. From information safety to employee confidentiality and security, we’ll help you create an all-inclusive payroll management system with the reins in your hand. Have any payroll related questions? Want to upgrade your outmoded payroll processing system? We are listening.

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Here’s How To Secure Your Payroll Service

If you’re heading a firm or overseeing payroll operations of an organization, you must’ve come across the term ‘payroll fraud’. With up and coming third party companies claiming payroll proficiency, the outsourcing market for payroll has taken quite a hit when it comes to security. That being said, payroll, alone is a process that requires a lot of manpower, accuracy, and efficiency. Sometimes, payroll outsourcing Thailand is the only way out.

But, here comes the most important question. How can you keep your sensitive company data, employee accounts, and more safe and secure while outsourcing your payroll?

We can help. We have rounded up payroll security into 5 pointers for you.

Update Your Payroll Software

Why go for a modern software when the old one is working just fine, right? While you’re trying to save a few bucks, your old software system is failing to fight advanced hacking measures. That is probably why our Thai Payroll company believes in working with state-of-the-art software solutions to make sure your data stays protected- now and always.

Limit Your Payroll Access

Outsourcing payroll typically means handing over sensitive information to third parties and expecting nothing bad happens. But instead of blindly putting all your faith in them, why not restrict sensitive information and only allow limited access- for example to the few personnel who are personally manning your organization. This one power move can increase your data security significantly.

Fish Out Phishing Schemes

We are all aware of those suspicious workplace mails that asks employees for their personal information. One of the major payroll security setbacks reported the unawareness of employees against ‘phishing’ schemes like these. We recommend training or educating employees so that they can report these scrupulous activities the moment it crops up on the screen.

Prioritize Protection of Physical Data

You have been prioritizing online security so much, that you’ve forgotten all about the physical data present on your person. Don’t worry, you’re not alone. Most companies focus on online security, sidelining physical data theft. To tighten your payroll security, our payroll outsourcing firm recommends taking due measures to make sure your physical data- as in old records, files, CDs, desktops and more are secured properly.

Upgrade Your Disposal System

Securing your present data is not just enough. The trick is to create a 360-degree security and that includes ensuring disposal of your old, existing physical data is being done accurately. Backup your old data on a secured cloud if needed and clean out old storage cabinets and files carefully so that it doesn’t land up on the wrong hands.

Payroll Processing is a meticulous job, no doubt. Carrying out an entire process alone cant be quite difficult. However, with proper security measures in place and a sturdy protection protocol in lieu, you can outsource your payroll and keep it protected at the same time.

Main Source: This Post “Here’s How To Secure Your Payroll Service” appeared first on “CloudForce HR“

Is Your Payroll Outsourcing Company The Right One For You?

When it comes to productive organizational solutions and smart thinking, many organizations believe a payroll outsourcing service is mandatory. After all, why dedicate resources and manpower and invest time and effort with an in-house team? You can simply unload the entire responsibility of payroll handling on industry experts who are fluent in smooth payroll management. But here’s the catch, not all payroll outsourcing services Thailand are made for your organization. So, how do you know whether your current payroll company is up to expectations or not? Before we delve into that, let’s talk payroll challenges first.

Process Power

Most companies who are handing over their payroll responsibilities to third-parties fear that they would lose control or power over their payroll process. Now in some cases, this can be true; but only if you’re working with the wrong provider. The right payroll outsourcing service provider will always operate with a transparent module that allows you full access to your payroll process as and when you need.

Cost Control

One of the primary reasons why organizations shift to payroll outsourcing is because of the rising costs of handling an in-house team. Usually outsourcing your payroll process should cost you lesser but if you’re not aware of the hidden costs, you may end up paying much more than originally planned. Our payroll outsourcing service Thailand promises unmatched services backed by utmost transparency.

Service Security

Entrusting confidential data in the hands of a third-party provider isn’t easy and we understand security concerns. However, understanding data privacy and security risks heavily depends on the provider’s awareness of infrastructure, security measures and more. At Cloudforce HR, we ensure each and every data supplied to us are secured by top-notch security systems.

Remote Ready

The recent global pandemic made us all realize how crucial having a remote payroll system in place is. We can all agree there was a certain level of unorganized panic during those trying times and that included having to deal with a remote payroll processing module. If you’re keen on handing your payroll process over, make sure your payroll company has a sturdy remote working module in place.

Here’s What You Should Be Looking Out for

• Make sure accuracy and efficiency is at the top of your priority list.
• Make sure your service provider is offering a customized package that fits both your requirement and your bill too.
• Make sure you do your share of homework such as reviews and ratings before shaking hands with your payroll company.
• Make sure your payroll service provider has ample knowledge of the industry you cater to.
• Always ensure transparency prevails in any sector- be it compensation or work load.
• Make sure your payroll service provider is well aware of the statutory changes, legal modifications, and more.

Finding the right service provider can help your organization make their payroll process not just efficient but effective too. If you’re new to payroll outsourcing, our organization for payroll outsourcing Thailand can help you with this shift.

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Explore New Technical Possibilities with Payroll Outsourcing

The entire gamut of payroll management is stressful; regardless of the size of your organization. If you imagine payroll to be an umbrella, there are hundreds of parameters and sub-levels that come under that umbrella. This makes payroll processing a humungous task for in-house payroll teams. This is probably why budding organizations are following the footprint of establishments and engaging in payroll outsourcing to third party experts like us, who frankly speaking, makes the job feel like a breeze! 

Putting the team expertise and up-skilling aside, when you shake hands with agencies for payroll Thailand, one of the most business competitive advantage that you reap is access to new, improved technology! 

Opening Up A Whole New World of Technology 

The payroll outsourcing industry is growing manifold as more and more companies are entrusting their payroll responsibilities on third-party experts. This has resulted in a huge technological shift. Agencies for payroll outsourcing Thailand has incorporated a robust technological working module to reduce paper people error and make intense payroll processes more smooth and efficient. 

How Can Payroll Outsourcing Organizations Help?

Efficient Outcomes

If you’re a growing organization, chances are that most of your payroll process still has room for improvement. On the other hand, if you’re an established organization, chances are that you are looking at a multi-strata payroll process with uncountable bylines to take care of. While manual labour for processes like these seem strenuous, a payroll outsourcing company can simply feed the data in their software process and the software itself will bifurcate, dissect, and organize your payroll process for you.

Reduced Timeline

Having an in-house payroll management team means having to dedicate manpower, effort, energy, and valuable company time in the process which may lead to problems like missing data, late salary deliveries, errors in data keeping and so on. Our payroll outsourcing team in Thailand has been working with industry experts and an iron-clad software system to ensure everything stays on time, always. 

Easy Record Keeping

A payroll management software comes with multiple features such as on-time record keeping, bookkeeping, data storage and more so that we can give you an easy access to all your payroll parameters as and when you need them. Another best part about working with a payroll outsourcing software is the fact that we are always compliance ready! 

Employee Benefit

From employee attendance to calculating overtime costs, a payroll processing software can help not just you but your employee too. Imagine on-time salaries, access to payroll breakdowns, and more all under one roof for both you and your employee to have a transparent understanding. And as well know, a happy employee equals to a happy company. 

If you want to smooth out your payroll process and create a robust work environment for you and your employees, bring your payroll problems to CloudforceHR today.

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