Maltese Payroll Software Buddy is known to help local businesses save time and minimise resources when running payroll. Its latest major enhancement in AI technology executes just the job by converting paper-based timesheets into accurate payroll data with a simple photo upload. A process that used to take hours, can now be completed within minutes.
Timesheets and punch clocks have become a cornerstone of measuring productivity in workplaces. Pay is more often than not linked to the hours worked and so an optical character recognition structure can be a fundamental tool to eliminate human error and significantly reduce manpower allowing professionals to focus on things that matter and utilise their time towards more strategic duties.
The effort to convert hand-written timesheets, or even punches from a punch-clock, into usable payroll data can be a mammoth task. A task that sometimes results in employees receiving pay late, or even worse, risk getting paid incorrectly.
In fact, it is not uncommon, where the process is so labour intensive, that managers cut corners. Instead of spending hours checking timesheets, or punch-clock data to ensure fair and accurate pay, they estimate what someone should get for their efforts. From people who were entitled to a night-shift allowance, getting none - to others that actually worked overtime but were paid inaccurately, many times an employee’s pay results in miscalculations due to unintentional human error or lack of time and means.
A study carried out by Caritas in 2020, analyses that the minimum requirements for both single parents and traditional families to live decently is much higher than the minimum wage, even when government contributions are in place.
For these employees who live paycheck to paycheck, one little mistake can be a big deal as overtime is generally required to sustain their living. When employees spend time worrying about paying bills, this isn’t good for their wellbeing and work performance.
Payroll is often one of an organisation’s largest expenses. It needs to be accurate, but the process doesn’t have to be a burden on HR professionals.
At a time when human resources are even more scarce than ever, it is critical that each team member is valued, given meaningful work and paid correctly. As more organisations are thinking about their future, now is the time to start thinking about transforming payroll into a more strategic function.
It should have always been this way, but the tech didn’t exist. Today it does, and employers and employees will win with it.
Buddy, a Maltese Cloud Payroll company, has introduced AI-powered OCR technology that enables conversion of paper-based timesheets into digitised data that is then converted into payroll, based on client and industry-specific rules.
The technology allows even the least technology-friendly businesses to pay their employees accurately. All one needs are 3 things: paper to print timesheets, a phone to take a photo and finally a laptop or computer to calculate the final payroll.
Buddy’s cloud payroll software helps thousands of employees get paid accurately every month.
Are you concerned about how your payroll is calculated? Buddy’s team can be reached online at www.buddy.hr or by calling on 2033 1199.