Did you know that 45% of the paper used in an average office will be in the bin by the end of the day? Invoicing, payroll, and human resources administration utilise a significant amount of manual processes and paper. Reducing the use of paper in your day to day operations improves efficiency, saves money, and provides a more secure environment for your employee data.
One benefit of going paperless in the office is efficiency. Information such as payslips, invoices, or benefits summaries can easily be accessed from any device in minutes. Employees working in house or out of office should have access to self-service portals to get access to the most up-to-date information. Using a centralised, cloud-based system for payroll and HR administration allows you to make real-time changes to employee information, while ensuring data security and paperless delivery.
In the last several years, there have been many companies in the news for underpaying employees due to payroll errors. The fines associated with payroll errors cost millions each year, and the reputation to you company can also suffer. Using cloud-based payroll and HR administration tools eliminate the manual errors that paperwork creates. And don’t forget about the cost of the paper, printer ink and printer maintenance – it can be as high as 3% of a company’s annual revenue!
Cloud-based systems for managing your employee data ensures your operations are GDPR compliant, with many safeguards in place to protect data privacy. Automatic back-ups mean you will never lose a document again, and cloud-based systems allow you to control who has access to personal information. For audit purposes, it is easy to create customised reporting as well, so you have real-time access to your employee data and payroll.
Corporate Social Responsibility
The final advantage of taking your operations paperless is environmental. Paper makes up a significant percentage of office waste, and even when recycled properly, damage to the environment is done in the process. By transitioning to paperless administration, you can do your bit for the environment and give your company an edge over the competition with the large consumer segment who consider the environmental impact of their purchasing decisions.
With the payroll and HR administration technology available today, and the positive financial and security benefits, it’s time to consider upgrading your operations and stop wasting time with paper. To learn more about payroll and HR administration solutions for your business, click here
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Payescape Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (register number 821826) for the provision of payment services.