Electronic payslips, makes sense?Aashiel Shah
Since the GDPR (General Data Protection Regulation) has standardized the data protection law, the electronic or e-pay slips have benefited the companies in the major ways. Yes, definitely these e-pay slips make sense to the companies by providing a GDPR compliant way of handling the employee’s pay data. It is because of these electronic pay slips that data protection, as well as management, have found an easy and safe way. Apart from being an easily readable format, these payslips are easy to store for years.
Benefits of electronic payslips:
Monetary benefit: Saves money that is generally spent on printing the payslips
Earlier the payslips were printed on the paper and were delivered or couriered to the concerned employee. This included a lot of paper, printing and delivery costs. Since the companies have started using the Payroll software, the payslips are delivered online as an electronic document. This saves the printing, paper as well as the delivery cost to the companies at large.
According to the CIPP annual payslip statistics report 2017, around 80% of the respondents have reduced costs by switching over to the electronic payslips. The savings are incredible. This is one of the major benefits of acquiring payroll software for the company.
Saves time and effort: Delivery of the payslips have improved
There is no comparison between the paper and electronic payslips. The time when the payslips were delivered hand to hand or by courier, it wasted a lot of time and energy. In fact, the HR department of the company has to maintain the physical payslip in the office, if the employee is absent or not available.
The payroll software delivers the payslip online through an Email or through an Employee Self-Service portal. This not only makes the process quick and smarter but also leaves a record in the particular email account of both the parties for the lifetime. Isn’t that a smart idea?
Environment-friendly: Saves paper, saves trees
We all love to celebrate the World Environment Day by posting the smart and ideological status on our social media accounts, but are we really helpful to the environment in any way? Well, if you or your company are supporting the electronic payslips over the printed one then you are actually helping the environment in a better way.
The payroll software saves paper printing costs as well as resources. This is incredibly a beautiful side of acquiring the benefits of a payroll software.
Storage space is enhanced: Records are maintained easily
Storing the undelivered or uncollected payslips can make a huge mess inside the office. Well, with the payroll software delivering the payslips is an easy as well as quick task. The records of all the employees for all the years are maintained online with the help of the software. In fact, the updated payroll software even offers data backup guarantee, which is a BINGO! Since all the information is stored online, access to information becomes easy. This is one of the most systematic ways to store the employee pay data.
Why Choose Brain Payroll:
Brain Payroll has developed online payslips, which is secure and offers benefits to both your clients and their employees.
Benefits to your clients
- Reduce cost, save on postage, printing.
- Quick and easy to setup with no software to install.
- Increased pay information security.
Benefits to employees
- 24/7 access to current as well as historic pay data and payslips in one place on their employee portal.
- Accessible on mobile as well.
- Increased speed of delivery of pay information.
- Employees can print and reprint whenever they need their payslips.