Payroll and HR Cloud technologies are soaring in popularity, with research from RightScale revealing that around 94% of organisations have adopted a cloud strategy in some form or another within their businesses.
In fact, many businesses are considering changing to Cloud accounting systems, HR, and ERP systems before looking at on-premise options, to try and take advantage of how Cloud Technology is changing the way we have traditionally run Payroll and HR office.
Why do companies regard Cloud technology as a game changer for Payroll and HR?
Cloud technology has the potential to scale extremely well and this is particularly true when it comes to Payroll and HR solutions. Firstly, less hardware is needed, which not only removes the initial capital outlay, but eliminates the costs associated with maintaining legacy infrastructure. With cloud or Software as a Service, you do not need your own hardware and users will have access to the latest world-class infrastructure and security platforms.
Similarly, when it comes to software, businesses don’t have the hassle associated with installing updates and/or upgrading their software to new releases, as this is done automatically, without any interference from business. The pace of features that Cloud Products are able to deliver to the Payroll and HR practitioners is a game changer.
Because new technology products allow for a single integrated Payroll, HR & ESS system, the system can be updated daily, making it much more feature rich, data integrity is improved while the administrative burden on HR departments is decreased. Cloud systems puts you ahead of your competitors by making you more responsive with tools such as Cloud analytics, as businesses are required to respond and execute faster.
Cloud employs a ‘pay-as-you-use’ model, which allows them to scale up and down as needed instantly. With flexible pricing packages to suit companies of every size and budget.
The pressure test for companies is how quickly they can adapt to changing business environments and Cloud technology products will allow the always-on connected workforce to have access to Payroll & HR data from anywhere, at any time. We are seeing many companies implementing flexible hours and allowing employees to work from home to reduce their travel time, increase flexibility and retain talent, making access to Payroll and HR data a necessity.
In recent weeks we have seen a major increase in security attacks, making companies nervous about having mission critical data in an unsecured environment. Cloud based solutions are hosted in data centers such as Microsoft Azure and Amazon and thus enjoy world-class security features.
Before considering your next legacy upgrade or purchase, review the strategic objectives of your business, look holistically at what you are trying to achieve and consider the benefits of true cloud applications to future proof your business.