Online paycheck: what are the main advantages of this feature?

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Online paycheck: what are the main advantages of this feature?

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The digital revolution has helped to simplify and automate processes in the most diverse sectors within a company – and the payroll is not left out. If you still don't know the online paycheck, you cannot miss this opportunity to see its main advantages.

The digitalization of the payroll streamlines the HR routines, saving not only paper, but also team time. A manual activity that takes up to a few hours each month can be reduced to just few minutes when done in the online version.

A more modern tool like this also already prepares the company to adapt to the mandatory requirements of e-Social, which would benefit from greater data integration.

In this post we will explain what the online paycheck is, its advantages and how to implement it in your company. Follow us!

What is online paycheck?

O paycheck (or pay stub) online it is nothing more than the statement of monthly salaries – which every company must make available to each employee – but in digital format instead of the traditional printed version.

It can be sent by email or made available on an online page. This would have secure access, protected by a password – the most recommended option for greater security of employee data.

Delivery of the paycheck by digital means is permitted by law. But, if the employee requires the printed version, the company must provide it. Workers without access to the computer in their work environment should also have the option of receiving the printed version.

In addition, attention needs to be paid to Collective Work Agreements. One should consult the existence of specific rules that must be considered before migrating entirely to a online model.

The digital version can only be issued by a management system, which in turn already prevents errors resulting from manual calculations. In addition, it allows for greater data integration and is much faster.

What are the advantages of online paychecks?

The adoption of digital payslip, as part of a solution that automates payroll management processes, brings a series of benefits for both employer and employee:

Economy

The first most obvious benefit is reduced paper costs for printing all paychecks. The company also saves energy, equipment and even physical space for storage.

Reducing the time spent on printing and delivering paychecks also frees up the HR team for other, more strategic activities. The more employees the company has, the greater the reduction in task time.

Speed

The agility to generate the paycheck online saves time: not only in the preparation of the documents, but also in the entire procedure of manual delivery of the paychecks and return of the signed receipts.

O online paycheck it is available for consultation almost instantly. As proof of deposit in a salary account, it does not require the employee to sign. Thus, the process is much more agile.

Ease

Receiving the paycheck digitally is also much more convenient for employees. The chances of having the paper lost or damaged and needing to contact HR to request a 2nd copy are null.

If something happens with the digital document, just enter the system and get a new copy. O Management system it also already consolidates several pieces of information. This optimizes internal HR processes and ensures greater data reliability.

Safety

O Online paychecks offer much more security to employees, as access to the document is password protected. The digital version also reduces the risk of loss or accidental exposure of employees' personal data.

Ease of storage also brings greater security to the worker. This is because he needs to keep all proof of salary until the time of his retirement, in order to avoid problems when receiving his rights.

Integration

A management system that allows the automation of payroll processes and the generation of online paychecks also ensures greater integration of employee data.

The integration and consolidation of data, as well as the automation of processes, ensure greater security and precision in the rendering of accounts that must be made to official government agencies such as the IRS, EHIC, Ministry of Labor and Employment, and so on. .

This accountability, which is done in a unified way through e-Social, requires more than ever the consolidation of data to avoid discrepancies. After all, mistakes can result in serious fines for the company.

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In addition to all the savings and agility that the online paycheck can provide, its infrastructure also collaborates in the preparation for e-Social, as it ensures accountability in accordance with the format required by the system.

Why adopt paycheck online?

As you can see, the migration from a traditional to a digital method takes time and investment. Although, is an expense that has a guaranteed return.

The digitalization of the process ensures greater agility in making paychecks available to employees. This provides greater safety and reducing the risk of errors.

In addition to saving paper and time for employees, the company guarantees meeting deadlines. This avoids unnecessary charges with possible fines due to incorrect payroll calculations.

Remembering that a modern and integrated system, with reliable data, does not only benefit the company. In addition to facilitating accountability to government agencies, it also generates quality reports for the corporate financial control itself.

A system that allows employees' payroll information to be integrated with other financial reports helps to predict cash flow. In addition, it improves strategic planning and makes life easier for managers when making risky decisions.

With all these benefits and features, incorporating the technology of a modern management system can be an important tool to protect your company and guarantee your success.

There is a variety of management solutions on the market, in addition to specialized consultancies. It is up to each entrepreneur to identify the option that best meets the specific needs of their business.

Did you like the benefits of online paycheck and want to know more about it? Download our e-book right now!

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