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Busting 10 Payroll Processing and Outsourcing Myths
Handling a business is quite hectic considering all the tasks that demand constant focus. Effective employee management is one of these tasks. Employee management is a crucial part of a company's success since they form the foundation or pillars for the efficient running of a business. This is why businesses should be implementing HR digital transformation systems such as the best payroll services software in the market.
Outsourcing your payroll is the fastest and most efficient way to get back to high-priority tasks. You can save time, money, and sanity by outsourcing your payroll needs.
Although companies have realized the worth of implementing the best payroll software and related services, there are numerous myths associated with it. These need to be debunked, or the consequences could be detrimental to a company. Some of these myths are discussed below:
Source: https://www.ramco.com/blog/pay....roll/busting-10-payr
Why LSPs should Move Away from Siloed Tech Stack?
Post-pandemic, there's a significant shift in digitization trends across the logistics service provider (LSP) ecosystem. Multiple logistics organizations are looking ahead to upgrading their legacy custom-built systems or point solutions, that take care of just a part of their business.
LSPs would have deployed most of these software solutions a few years back, either due to the suggestion from the end customers to use a specific solution or a short-sighted vision to have a TMS or a WMS or a billing solution that takes care of an immediate need.
Over the years, the LSPs would have grown and acquired more customers, but their IT infrastructure would have remained the same. After the pandemic, LSPs are expected to equip themselves to provide visibility to their end customers, anticipate supply chain disruptions, predict demand, improve efficiency, and bring down the cost of operations.
Source: https://www.ramco.com/blog/log....istics/why-lsps-shou
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The Biggest Payroll Challenges
Every small or big business has its way of handling payroll services and paying employees (full-time and freelancers). The organization must ensure that every data input, like taxes, bills and invoices, complies with existing laws and regulations. But, as the laws and compliance rules keep changing from time to time, the processes involved are often complicated and challenging. Add the complexities of handling the payroll of a globally distributed workforce to the list, and the challenges intensify even more.
Although getting payroll right might seem easy, it is not. With so much on the table, HR managers alone can’t bear the weight of the entire process. The complexities associated with payroll management makes end of the month pay day a nightmare for HR professionals. In our 26 years of experience as payroll service providers we have seen many businesses making simple errors and suffering avoidable penalties.
Knowing the challenges beforehand can help you make a checklist and refrain from making these mistakes.
Source: https://www.ramco.com/blog/pay....roll/the-biggest-pay
Why Digital Transformation Is Needed In The Auto Ancillaries Industry
The auto ancillary industry presents an interesting case for digital transformation. While it is one of the largest manufacturing sectors globally, with a combined value of $1 trillion in annual sales, it remains relatively fragmented and inefficient. In addition to the potential benefits of switching to digital practices, there are also several challenges, like the rising manufacturing cost, which can be solved by effective digital transformation. This is where Automotive ERP - ERP software made for the automotive industry helps.
This article looks at the various challenges the auto ancillaries industry faces, how digital transformation presents a solution, and how technology such as Automotive ERP can enable such businesses to transition to a digital future.
Challenges Facing The Auto Ancillaries Industry
Considering the sheer size of the auto ancillaries industry and its impact on the global economy, the sector must continue to thrive. However, in recent decades, the industry has been facing several challenges.
Source: https://www.ramco.com/blog/erp..../why-digital-transfo
How Can Technology Assist Businesses Manage Resignations?
When a company loses trained, productive people who understand their job function and perform it well, productivity is affected. A recent reminder is the great resignation that took place since the outbreak of the pandemic. Employees left their jobs in record numbers.
Promoting work-life balance is one way through which companies can keep employees happy. Developing a synergy between work and life is more essential today than ever.
Let’s take a closer look at the issue of resignation and how technology can help.
Why do employees leave their jobs?
Several surveys done on global workers say that pay cuts and toxic work culture remain the main reasons that made employees say, “I quit”. In addition, sudden changes brought in by factors like the pandemic such as shifting to remote working, technical gaps in remote working, unmanaged workload and lack of face-to-face interactions resulted in employees feeling stressed and burnt out.
Source: https://www.ramco.com/blog/pay....roll/how-can-technol
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