A new AI technology enhancement is allowing Maltese payroll software Buddy to help local businesses save time and minimise resources when running payroll, Times of Malta reports.
Buddy’s new enhancement converts paper-based timesheets into accurate payroll data with a simple photo upload meaning that a process that used to take hours can now be completed within minutes.
Timesheets and punch clocks are 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 can occasionally lead to employees receiving their pay late, or even worse, risk getting paid incorrectly.
It is not uncommon, where the process is so labour intensive, for corners to be cut. Instead of spending hours checking timesheets, or punch-clock data to ensure fair and accurate pay, time-starved managers may be tempted to estimate hours accrued. From workers who were entitled to a night-shift allowance getting none to others who worked overtime but were paid inaccurately, an employee’s pay can contain miscalculations due to unintentional human error or a lack of time and means.
A study carried out by Caritas in 2020, reportedly reveals 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 such employees, living pay cheque to pay cheque, one little error can be a deal breaker as overtime is an essential part of sustaining their living costs. When employees spend time worrying about paying bills it is bad news for their wellbeing and their work performance.
Payroll is often one of an organisation’s largest expenses. It needs to be accurate, but the process need not be a burden on HR professionals.
At a time when human resources provisions can be scarce, it is critical that each team member is valued, given meaningful work and paid correctly. As more organisations are thinking about their future and technology is quickly evolving, it is a good time to start considering whether there are benefits in transforming payroll into a more strategic function.
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. The only three requirements are: paper to print timesheets, a phone to take a photo and a laptop or computer to calculate the final payroll.
Source: Times of Malta
A new AI technology enhancement is allowing Maltese payroll software Buddy to help local businesses save time and minimise resources when running payroll, Times of Malta reports.
Buddy’s new enhancement converts paper-based timesheets into accurate payroll data with a simple photo upload meaning that a process that used to take hours can now be completed within minutes.
Timesheets and punch clocks are 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 can occasionally lead to employees receiving their pay late, or even worse, risk getting paid incorrectly.
It is not uncommon, where the process is so labour intensive, for corners to be cut. Instead of spending hours checking timesheets, or punch-clock data to ensure fair and accurate pay, time-starved managers may be tempted to estimate hours accrued. From workers who were entitled to a night-shift allowance getting none to others who worked overtime but were paid inaccurately, an employee’s pay can contain miscalculations due to unintentional human error or a lack of time and means.
A study carried out by Caritas in 2020, reportedly reveals 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 such employees, living pay cheque to pay cheque, one little error can be a deal breaker as overtime is an essential part of sustaining their living costs. When employees spend time worrying about paying bills it is bad news for their wellbeing and their work performance.
Payroll is often one of an organisation’s largest expenses. It needs to be accurate, but the process need not be a burden on HR professionals.
At a time when human resources provisions can be scarce, it is critical that each team member is valued, given meaningful work and paid correctly. As more organisations are thinking about their future and technology is quickly evolving, it is a good time to start considering whether there are benefits in transforming payroll into a more strategic function.
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. The only three requirements are: paper to print timesheets, a phone to take a photo and a laptop or computer to calculate the final payroll.
Source: Times of Malta