An enterprise HR solution built for the needs of midsize and large businesses
Even simple payroll processes can expose a company to potential risk and penalties. And the more complex your business, the greater effect inaccurate data and tax issues may have on your company’s bottom line.
Help reduce risk by outsourcing your company’s payroll with SOURCEitHR, your human capital management (HCM) experts. Scalable to support businesses with as few as 50 employees to those with thousands, and configurable to meet your organization’s needs, SOURCEitHR can help your company streamline enterprise payroll and stay up to date with the latest tax rates. Plus you won’t have to worry about expansions into other countries in the MENA region. We got you covered as we have all the latest laws and regulations in 19 countries.
How does enterprise payroll work?
As companies grow, outsourcing certain tasks and/or function vs. centralizing becomes the question. Which approach is more cost-effective? Which approach creates more efficiency? From all the research and white papers published, outsourcing always is better, as it brings more value. Particularly when outsourcing your payroll. It will allow existing HR staff members to focus on the more strategic aspects of HR rather than the transactional such as payroll. It also frees up the time in Finance as well if the process includes them. This also helps when expanding beyond the borders of where you currently operate. Rather than learning the laws and regulations related to pay in the country you are expanding to, and risk making mistakes and costing the company a lot of money., outsourcing your payroll to professionals who can immediately start calculating and processing payroll for your team on the ground in no time. Payroll is not just on time and accurate, but also with the right partner such as SOURCEitHR, we will seamlessly integrate at the backend with your HRM and Financial modules to ensure that they are updated regularly with the necessary information. Furthermore, outsourcing your payroll will allow you better reporting, this is all done through SHR’s business analytics divisions that provide you with dashboards and insights into your pay that will help you make better business decisions.
What's included with SOURCEitHR’s Enterprise Payroll Services?
- Monthly or quarterly dashboard and analytics
- MenaMe self-service module, MobileApp self-service module, MenaPay module
- Backend integration of financial, HR, and/or time attendance systems
- Cloud Storage
- Gathering Payroll Inputs; including all applicable additional entitlements or deductions to be reflected on the respective month (Overtime Hours / Unpaid Leaves, Medical Insurance Reimbursement / Claims; Salary Increases; Deductions, etc)
- Completing & Verifying Payroll Calculations
- Salaries Disbursement & Salary Slips Issuance
- Salaries Bank Transfer Letters Generation
- Accounting Vouchers
- Preparing Employees Income Tax Declarations to the Income & Sales Tax Department (ISTD) (AR/3, AR/2, Consolidated Salary Report)
- Preparing Employees Social Security reports (New employees, resigned employees, and Annual Report)
- Calculating employee clearance for resigned employees
- Annual Leave balance rounding, moving, and compensation
- Dedicated Relationship Manager