For decades, small and medium enterprises (SMEs) have been integral to the Philippine economy. SMEs spark employment in rural and remote locations, allowing people to engage in activities that will enable them to earn money while helping improve an area’s financial state. The number of registered SMEs has constantly increased over the years, with the Department of Trade and Industry (DTI) reporting that at least 99% of registered businesses are classified as SMEs.
But despite the booming industry of SMEs in the country, the reality is that it is not easy to grow a small or medium organization, especially in the past two years. Apart from the economic effects of the COVID-19 pandemic, multiple other factors can hinder a small business’s progress in the market, such as lack of infrastructure and inadequate use of modern technology. But what remains one of the leading issues SMEs encounter when scaling their business is payroll management.
To answer this, numerous SMEs invest in a payroll web online demo in the Philippines to effectively manage their payroll system. Meanwhile, some SMEs choose to implement modern solutions to old problems, such as the Human Resource Information System (HRIS). This system allows SMEs to have a centralized platform for core HR functions within the enterprise.
Partnering with the best HR companies in the Philippines to run HRIS will be incredibly beneficial for SMEs looking to grow their operations. This will help streamline various tasks for the HR staff, allowing them to maximize their time and boost their productivity. SMEs will ensure that employee data are precise and safe, which is also essential when complying with regulations.
In addition, HRIS will allow employees to have on-demand access to all their HR needs with just a few clicks on their mobile devices. This makes requesting leaves, reviewing payslips, and raising concerns much more accessible than manually. By doing this, SMEs can significantly improve the work environment, which is a catalyst for growth nowadays.
To learn more about how HRIS can help SMEs grow, check this article by GreatDay HR.