Processing payroll with Bayzat, at no cost: Just partnered with Lulu International Exchange
Posted On June 10, 2020
Despite the pandemic, payroll processing remains one of the integral functions of any business. And yet, for most companies, it is entirely led by human effort. Traditionally, payroll can be a time-consuming, at risk of human error, and overly complicated process each month. At a time like this, it can result as an unnecessary burden for companies in the UAE.
Bayzat is exactly what you need when it comes to payroll processing. Our secure, innovative finance products are built into one accessible platform for businesses like yours to save you time and money.
As the UAE’s first automated payroll solution, at no cost, we recently partnered with one of the leading providers in financial services, Lulu International Exchange, to help you experience an easy, seamless process.
If you are currently processing payroll manually, processing fees can accumulate as an added cost. Employers must pay a fee to pay their employees for WPS and card issuance for unbanked employees, ranging from a total of AED 5 to 15 per employee per month. And with payroll being managed offline, there’s no visibility or easy way of tracking previous transactions and any errors will have to manually be fixed and checked for WPS compliance, which delays the process even more.
Additionally, excel sheets need to be prepared every month, converted in format, and shared over email with an exchange house. If the majority of your employees are unbanked, then you need to transfer money to the exchange house, and engage in lengthy back and forths to resolve issues, which makes it easier to make more errors.
And how does it work? Just take a look below
Through our partnership with Lulu International Exchange, you can benefit from managing your payroll easily every month, at no cost for one full year, no matter where you are. Plus, with constant support as and when you need it, you get to access and track your previous payment records safely at any time, and avoid any delays as we handle WPS compliance. With better, streamlined processes through Bayzat, you can ensure to get time and money back to your business.
Here are some of the key features:
Save timeon back and forth communications with call centers to get registrations or payroll done
Save money on processing fees for the first year
Register any of your unbanked employees for free. Don’t worry about card issuance costs, Bayzat has you covered!
Access, manage, and track employee data and make monthly changes on your payroll table
Send your salary data in just a few clicks – Forget about excel sheets!
Eliminate human errorand make your data more accurate and reliable
Getbetter visibility of payment status tracking
Automatically generate payslips for all your employees in a single click
Access to an accurate, compliant and secure cloud-based technology