What is HR Payroll?

There’s a lot that goes behind running an organization! There are accounts, human resources, administration, and operations to name a few! Now imagine all these data-loaded, complex procedures merging to create what we know as Payroll. If you run a budding business, by now you must have a clear idea of what payroll stands for! To simplify, it’s the intricate process of managing and monitoring employee compensation and making sure they get paid on time. So where does the term HR Payroll fit in, if these two are completely different processes? Let us explain.

Thanks to the technological advancements today, the complex processes of HR and finance can now be clubbed into one excellent software. The HR Payroll software comes with incredible problem-solving features that can not only streamline the entire process but also make monitoring and record-keeping feel like a breeze! But how does it do that? Let us walk you through the method of processing payroll through payroll outsourcing software.

How Does Payroll Processing Work?

To understand the method involved in payroll processing, here’s what you need to know.

1. Automation is the future, regardless of the nature of your business. When you automate a process, you are minimizing paper people errors, reducing data clutter, resolving challenges, and automatically updating your process as per the latest industry standards.
   
2. Instead of manually managing hundreds of data crammed up in hundreds of excels, how about streamlining the whole process through a cloud-based spreadsheet, readily available at your beck and call? That is how a payroll software system works. You have all your important data ready in a data silo, with features like access control and monitoring. For instance, imagine a digital portal that lets your employees view their overtime expenses with access control preventing them from changing any data. Only the admin or the dedicated resource team is allowed to make changes.
   
3. Now comes the most important part of the payroll process- outsourcing! But isn’t outsourcing a dangerous and expensive affair? Not if you shake hands with the right experts in town! Outsourcing is the process of handing over your responsibilities to a group of industry professionals for an affordable sum of money. In most cases, professional payroll outsourcing companies understand the relevance of data confidentiality and offer iron-clad security backed by professional payroll processing services.

What Are The Steps Involved In Payroll Processing?

If you’re new to payroll processing, we have good news for you! You are about to be part of a booming industry that is expected to grow tremendously in the upcoming decade. Did you know the demand for payroll outsourcing is expected to rise at a 6.1% CAGR value by the year 2033? But before you become a part of something big, you need to understand the skeletal backbone of the industry! This brings us to the next section where we discuss the steps that a payroll outsourcing organization follows to make your payroll problem disappear.

Steps	Purpose
Employee onboarding	Thanks to automated updates, new employees joining the team or old employees leaving the organization can be easily accounted for.
Policy Making	Get all your policies, both new and existing aligned and incorporated under one roof without manually having to do so.
Integrating Employee Data	From overtime and leave calculations, to handling multi-tier and international employees, this software can seamlessly integrate all the data.
Validating Data & Information	Once the policies and employee data are updated in the system, verifying and validating the authenticity of the data either manually or through the software will feel like a breeze.
Calculating Payroll	Now with all the data authenticity verified, the payroll process can begin. The best part? Automated payroll processing doesn’t need in-house resources.
Disbursing Compensation	After the calculation is done and all errors are eliminated, the payroll system can disburse all compensation directly to the respective employee accounts.
Computing Taxes	Understanding taxes and calculating tax breakdowns is one of the toughest jobs out there. Thanks to payroll processing experts, companies can now do it easily without defaulting on their taxes.
Clearing Compliance	When all the data is retrieved, salaries are disbursed, and taxes are cleared, your automated system will look into compliance errors or setbacks and work on them to keep your system up-to-date with the latest rules and regulations.

As you can see, a payroll software process performs end-to-end services, covering the entire platform of employee and payroll management under one big umbrella. Sounds too good to be true? Don’t worry, we are here to tell you about some limitations that you may encounter if you sign up with the wrong outsourcing crowd!

Benefits And Limitations Of Using Payroll Processing Software

Advantages	Disadvantages
Your payroll processing will be time-efficient & automated	Automated processes can be challenging at first without proper usability training in place
Your business can enjoy enhanced employee satisfaction	You may have to shell out some expenses on software training and usage
With an automated outsourced payroll process, you can expect overall reduced payroll costs	If you don’t sign up with the right company, you may risk data theft or privacy issues
You can always expect your process to be at the top of compliance modifications	Your employees may not have a lot of time to adjust to the new compliance modifications

Just like two sides of a coin, it is important to understand that change can be difficult to incorporate. However, in the long run, turning to automation will be beneficial for your business. Here are what business forecasts predict about HR Payroll processing.

The Future Of HR Payroll

In today’s day and age, businesses hardly have the time to manually rectify errors, collate data, and handle multi-level operations. That’s why the world is turning towards automation where a simple process can resolve all these complex issues in one go! Additionally, a seamless process can also benefit your business in terms of productivity.

For instance, most employees today live a pay cheque to pay cheque kind of lifestyle. Delays or errors in payment processing may reduce their working morale. On the other hand, a company that’s on top of its salary disbursement schedule will always fetch happy, satisfied, and productive employees. In a nutshell, the future of HR Payroll lies in payroll process outsourcing, automated payroll software, and professional companies that excel at both of these jobs.

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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.

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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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Make Your Payroll Pain-less!!

There’s no such thing as easy payroll maintenance. From security to accuracy, the entire gamut of payroll processing is not just lengthy but strenuous too. Can you imagine, 100+ employees, maintaining their confidentiality, handling their salary timeline, safekeeping their sensitive information- and that’s just one small part of what payroll really is all about! At a time like this, services for payroll outsourcing Bangkok can be a real helping hand to you.

Are You Facing These Payroll Problems?

Before we delve into the solutions, let’s just discuss payroll problems that companies usually face. To begin with, one of the major setbacks in payroll maintenance is the need to keep yourself updated with the latest rules, regulations, and compliance. Coming in second, is the need for advanced tech. Payroll processes require the utmost level of accuracy and efficiency backed by iron-clad security systems that can protect your personnel’s sensitive information. A run-off-the-mill payroll software will often fail to accomplish multiple aspects. Then comes the diversity challenges. Handling remote work, maintaining payment details, anticipating obstacles and more.

The Best Payroll Provider in Thailand

Payroll service providers can be defined as market experts with in-depth knowledge about payroll processing. These experts often act as third party payroll providers and are usually equipped with world class tech backbones to make the payroll process smoother and more accurate. CloudForce HR is a similar organization perfecting the process of payroll for all the companies who are currently struggling to make their process leaner.

Here’s How We Aim To Help

• We bring the best of advanced software solutions to personally man your payroll process.
• Our team of payroll experts include market leaders, legal leaders, and finance pros- who work hand in hand to make sure your payroll process is up-to-date, compliance ready, and financially accurate.
• We work with a transparent module which means all our services will be laid out and broken down for you so that you don’t end up paying hidden charges.
• Our round the clock work module ensures all your payroll activities are delivered right on time, every time!
• We care about your confidentiality and thus, employ industry accredited security systems to prevent fraud, phishing, or scrupulous data sharing to third parties.

If smooth payroll processing without burning a financial hole in your pocket is something you have in mind, this Thai payroll provider will be perfect for your business. Have some payroll related questions? Want to find out about our latest payroll management systems? Reach out to us today.

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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.

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5 Strategies Payroll Outsourcing Organizations Are Implementing in 2022

The entire gamut of payroll outsourcing has undergone quite an upgradation, especially since the world plunged into digital dependence after the latest effects of the pandemic. This meant, to ensure steady compliance of the payroll process, payroll outsourcing organizations modified their strategies and enhanced their workflow patterns to ensure they can accommodate sudden setbacks without hampering the steady workflow.

If you’re currently struggling with your payroll process or looking to upgrade your old payroll management system, our organization for payroll outsourcing Bangkok can help you with 5 strategies that we have been implementing to make your payroll process smoother.

Ditch The Paper Payroll Process

When it comes to payroll processing, the top 2022 strategy involves going paperless. This appeals to the cost cutting and resource saving aspect that most companies today strive to achieve. But that’s not all, while paper documented payroll processes seem outdated and difficult to maintain, feeding your data to a secured cloud storage can actually help payroll processors access old records, data, and more efficiently and effectively.

Go Steady with Software Solutions

Why stick to old school manual payroll processing when you can slash resources, manpower, time, effort, and energy with a state-of-the-art payroll software solution. While most companies working with an in-house payroll department usually lack the fund and tech expertise required in setting up such an advanced software system, payroll outsourcing companies like ours dedicated to flawless payroll management can easily accommodate a technical approach on your behalf.

Try Seamless Integration

If you agree with our previous plan about shifting to a software based solution for payroll, you need to keep one thing in mind! You don’t want a new software or upgrades to an existing software process to hamper your current existing systems. This is why it is always essential to update your tech backbone in such a manner that any changes or upgrades to your payroll software system will be seamlessly integrated into the system without you suffering a system failure or setback.

Be Compliant Ready, Always

Are you aware of the new laws and regulations set aside for payroll management? Are they coinciding with the new finance laws? Will they hamper the administrative regulations in any manner? Why dabble in these questions when you can simply hire a group of experts who’s veteran in laws, modifications, updates, and more? Our Thailand payroll service includes dedicating a department to compliance so that you don’t have to burden yourself with changes and upgrades to your payroll system.

Streamline Your Pay Model

A big or a developing company may often come with perks like bi-monthly pay/ weekly pay/ pay per project, and more. While this pay model may appeal to the employees, it becomes a task for the payroll department. Managing multiple pay levels on varying dates often leads to delay in payment, loss of pay, errors in the numbers, and much more. We suggest, streamlining and aligning your pay model in a way where all the employees get same day pay without delay or errors.

Do you like these new strategies we have been incorporating? Want to discuss payroll process upgrades with our experts? We are here to help!

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