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Friday 04 Mar 2016

How to Make the Most of Payroll Management in Dubai

No matter how big or small your organization is, your business can always benefit from an improved payroll management system. However, at times, it gets difficult for the management team to identify what exactly needs to be changed and what has to be implemented. Simply making random changes will not benefit your organization. For your payroll management system improvements to be truly effective, you have to address the overall process, what kind of technology you are using and what the best practices are that need to be implemented.

While every business is unique and has specific requirements, there are certain steps that can optimize the Payroll Management in Dubai for any organization:

  • Upgrade Your Payroll Software

As the needs of your company grow, you need to figure out ways to upgrade your payroll software to streamline payroll processing. With organized and effective technology at your disposal, you will see a significant decrease in the time spent for processing payroll. This will give your HR staff more time to spend on productive activities that will ensure greater accuracy in data entry and processing. However, keep in mind the software alone will not resolve all the bugs in your existing system.

  • Get Rid Of Paper

Paperless payroll is the result of improved technologies that can help speed up your payroll operations. In addition to simply going green, going paperless will improve the security of your company’s data. Eliminate the need for physical paychecks, time cards, timesheets and paper pay stubs. Adopting an online portal for your employees helps your organization adopt an environmentally friendly reputation.

  • Invest On Training

Continual training is critical for any organization. Payroll Management in Dubai is a changing and evolving process and thus it is imperative for HR and payroll professionals to receive extensive training. If you are upgrading your system or investing in new tools and services, you will have to educate your employees about the new system.

  • Simplify Your System

Having access to the most advanced technologies can still be problematic if your employees do not know how to use the system properly. Make sure you invest your time on consolidating, simplifying and streamlining your existing system.  Review all the steps and analyze the process from a high-level perspective that can help you and your team optimize the system.

  • Automate Payroll

If you are a small business owner and do not have the resources to hire professional payroll staff, you can simply automate the process. Invest in a new Payroll Management in Dubai and you can reduce the hassle and effort associated with keeping the payroll up to date.

Benefits of Paperless Payroll Management

Businesses are seeing big changes in 2016, and “going paperless” is one of them! Owing to the continued acceptance and development of cloud-based computing, increasingly more and more organizations are weaning off the paper and shifting to the reliable, organizational benefits of web-based payroll management in UAE. In addition to cloud-based storage resources, such as Dropbox and Google Drive, payroll management in UAE is becoming the fastest business practice to go paper-free, and here’s why:

Why Paperless Payroll Management Is Better?

If you have plunged forward to start a new business venture and follow your aspirations, it goes to show that you have a real passion for what you do. However, certain redundant aspects and tasks of operating a company might not fall under your expertise, and suck the joy right out of the pleasure of business ownership.

One such task is managing your business’s payroll! Whether you own a mid-sized business and thinking about handling the payroll management yourself, or you own a fortune 500 firm significant enough to integrate an accounting department of its own, opting for an automated payroll management in UAE offers commendable benefits.

Benefits for the Company:

  • It eradicates the need to phone, fax, or print time sheets to a payroll provider.
  • It allows you to keep all employees payroll data in one place.
  • No separate trips requiredtodropoff paychecks or forms.
  • The payroll can be processed from any device and at your convenience.
  • Federal and state tax payments and filings can be automated to ensure compliance.
  • Allows easy collaboration for tax preparation purposes with your accountant.
  • The employers can tout their company as being “eco-friendly” and “green”.
  • Business overhead costs, incurred due to ink cartridges, toners, printers etc. would be greatly reduced.
  • Paperless payroll can reduce waste and paper in the office.
  • Conducting business matters in a mobile environment ensures faster and more efficient results.
  • It alleviates the need for spacious filing cabinets, thus increasing the usable space in the office premises.
  • Securely backs up your employee and management payroll data.
  • Cuts down the time your employees waste searching for documents.

Paper-Less Benefits To the Employees

  • Funds are available immediately on the pay date
  • No more waiting in long line at the bank to deposit paychecks
  • Paystubs are available 24/7 online
  • Staves off worries about stolen or lost paychecks
  • Alleviates the need to come to work on a holiday, only to pick up a pay check
  • Fewer payroll errors and mistakes

Benefits to the Environment

On average, businesses waste an unbelievable amount of paper daily, with a large portion of the usage trailing back to the processes of payroll management, paying taxes, and filing government forms. Imagine how much paper can be saved if more and more enterprises adopted paperless strategies. Going paperless is not some aspiration for the future, but how businesses should be running right now!

Securing Payroll Management in UAE and Other Systems

The security of your organization’s intangible assets, such as the data related to payroll management in UAE, is important to ensure confidentiality of stakeholders and to protect yourself from cyber criminals.

It’s much easier said than done because it’s almost as if we are living in the digital version of the Wild West, where hacked and stolen devices are becoming common by the minute. For this reason, it’s important that you protect your organization’s data with a little planning and strategy to avoid exposing yourself to security threats, especially when it comes to payroll management in UAE.

  • Stolen and Compromised Passwords

Cybercrime is on the rise, usually involving a hacker who broke into an apparently impregnable database and successfully gained access to thousands of user passwords. On the surface, this may not sound like a big deal, but an alarming number of people use the same password for all their accounts.

People who are part of the online world absolutely fail at creating passwords, and thus, it’s easy for hackers to be able to guess or crack weak passwords. For instance, if you have an application for payroll management in UAE, you will be required to create accounts for different users within your organization. Even if one password gets leaked, your entire system is in jeopardy. The solution is to advise your staff to use super-strong passwords and never use the same one for all their accounts.

  • Smartphone Malware

Now that our world revolves around our smartphone and we literally can’t imagine life without it, hackers consider it as a billion-dollar industry. Mobile malware is increasingly affecting smartphones and tablets and it attacks your device through malicious apps. This fact is alarming because you could be remotely accessing an application that you use as a business solution for your company, such as a payroll management application. Malware can easily transfer data from your phone to the hacker, making you vulnerable to security threats.

To protect yourself from mobile malware, never download apps from third-party app stores and only stick to legitimate app stores, such as Google Play. Secondly, make sure your device is updated with the latest version. Lastly, whenever you happen to install a new application, make a note of what type of personal and private information the application is asking for. If the app is trying to hook a lot of your data, then it’s best to not install it.

  • Workplace Worries

Most of your employees are probably using their own devices for work purposes, which is perfectly fine. The only problem is these devices cannot be controlled under the office-powered security system you have in place. As soon as any virus-infected device connects to your server, you immediately become vulnerable to security threats. To prevent this issue, make sure you invest in secure software, especially for payroll management, that protects your server from alien devices.