Payroll outsourcing advantages in Malaysia

0
payroll outsourcing
Share

The post pandemic normal hasn’t been easy for any HR teams across the world. Today’s world of business is led by organisations that are employee-centric and digitally advanced. However, no matter how much you might be trying, the outdated practice of manually processing payroll and using outdated on-premises payroll systems could be creating hurdles for you. With multiple calculations and compliance checks for each employee’s payroll, your company’s HR continues spending a significant chunk of its time in payroll management. That’s valuable time that can be easily freed up and allocated to other more crucial and beneficial tasks once you opt for payroll outsourcing.

Benefits of payroll outsourcing

Malaysia is regarded as a key business destination by almost all leading global businesses and you can easily find international payroll outsourcing firms to handle your company’s payroll needs. The best payroll services providers would use contemporary cloud payroll solutions integrated with technologies that include RPA, AI, Machine Learning and advanced analytics. When such tech advancement is deployed to your payroll processes, there is going to be scalability, security and enhanced productivity in your organisation. 

The software driven payroll services offered by a leading payroll outsourcing firm would offer advantages such as:

Automation of helpdesk through AI Chatbots

Nowadays, we are seeing AI integration to automate and optimise almost all the business processes. Therefore, it is the right thing for the payroll outsourcing companies to automate employee helpdesk and deploy AI chatbots for various queries. Earlier, all such tasks were handled by the company HR, but now the chatbot can seamlessly, swiftly and accurately respond to them. What’s even better is that the employees can raise these queries anytime, and from anywhere. 

Accuracy of payroll processes

Since the system is automated and software-driven, there is reduction of human errors. The software won’t get fatigued or distracted even when it has to go through the same steps for thousands of employees each month. Thus, you get a seamless, accurate, and legally compliant payroll experience for all your employees within Malaysia as well as outside of it. 

Employee self-service

Through payroll outsourcing, you can give your employees the best of experience and enhance their motivation levels. Considering how talent retention is crucial for modern companies, the best payroll services providers usually offer an online employee self-service option. The employees can login on desktops or through an integrated mobile app to perform various tasks such as submitting and approving leave requests, helping employees check their details, printing salary slips and tax forms etc.

Data-driven insights

 

When the payroll services providers use advanced data analytics solutions, they are able to generate meaningful insights from each employee interaction, and this leads to a deeper understanding of the employees’ expectations. Thus, the payroll services can be enhanced accordingly for even better outcomes. 

Data security through role-based dashboards

An experienced payroll company would offer different role-based dashboards for different hierarchy levels which will provide access to a different set of data, information and tools to carry out only the tasks assigned to the person. This would result in greater data security. 

Typically, businesses are wary of using payroll outsourcing services or undertaking changes to their existing payroll processes due to fears of data loss or incompatibility. However, the modern payroll outsourcing companies use cloud-based software which comes with pre-built integrations with other popular third-party HR, ERP, time and attendance management and other solutions. You would not face any data loss or compatibility issues between the payroll services provided by the specialists and your on-premises technologies. All you need to do is to contact the Employer Of Record Company in Malaysia and let the experts do the rest!