Last Updated on August 17, 2022 by user
Bayzat is changing what’s possible when it comes to payroll processing. Our secure, innovative finance products are built for businesses like yours to save you time and money. Finance and HR teams spend countless hours on manual processes to process payroll, manage expenses, update records and resolve errors and now, through automation, Bayzat will take on the hard work.
In times like these, business processes are increasingly moving online so that work can continue and stay as normal as possible, remotely. With many of the UAE workforce working from home, its important to have efficient, cloud-based solutions in place to ensure business continuity. One of the most crucial activities that must continue as normal is payroll processing. With many employees feeling anxious and uncertain about the future, it helps significantly to have a reliable processes in place.
Traditionally, the payroll process in the UAE can be cumbersome. Excel sheets are prepared every month, converted in format, and shared over email with an exchange house. If the majority of your employees are unbanked, you then need to transfer money to the exchange house, and engage in lengthy back and forths to resolve issues and errors. Not only that, but then you need to process the payment of salary transfer transactions per employee.
On average throughout this process, 10.5% of time is spent on correcting errors. There is a huge gain to be made from automating the process and eliminating the likelihood of human error. Essentially, there are three main benefits to moving your payroll online:
- Efficiency: By eliminating manual systems your payroll process becomes significantly faster, giving you time back to focus elsewhere.
- Accuracy: By moving online, the risk of human error is reduced as the platform is intuitive to use and accurate.
- Security: With the right system in place, there is no need for security concerns. Information is completely safe and stored on cloud-based software.
At Bayzat, creating world-class automated experience is at our core. And we’re excited to introduct the UAE’s first automated payroll processing solution, at no cost. In just a few clicks, you can process payroll for your entire team
With payroll processing on Bayzat, you can benefit from our partnership with Al Ansari Exchange and experiece a seamless process.
Here are a few key features:
- Send your salary data in just two clicks – no more spreadsheets or WPS files!
- Real-time tracking of salary payment status once the money leaves your account
- Eliminate human error and make your data more reliable
- Accurate, compliant and secure cloud-based technology
- Manage and track monthly changes to your payroll table
- Powerful reporting and analytics: View pay history and download reports for all prior transactions
- Automatically generate payslips for all your employees in a single click
Plus, did you know that your company could be paying anywhere between AED 3 to AED 15 per WPS salary transfer for each employee? Bayzat will take away these costs whilst processing your payroll at no cost for the first year.
You’ll wonder how you worked without it.