Netchex is cloud-based online payroll software designed to manage payroll proceedings and record keeping. It deals with Human resources (HR), Payroll, recruitments, onboarding management, performance management, attendance and time, benefits, and reporting management and analysis. It is beneficial for small and large firms equally and can handle almost every aspect of data. Thus, it is a better option amongst a lot of payroll software programs to choose and work with.
Let’s delve deeper and take a look at the salient features of this payroll software for accountants:
Advantages of Netchex
There are a number of benefits of using Netchex software.
Single-click access to data
Netchex is a multi-task controlling application that has single-click access. You need not sink into a heap of files and papers, just go to the computer or any operating system device, log in and start working and check all the data. You can go through the data in detail on a single platform and need not grab separate files for each subject.
Reduces the labour expenditure
As Netchex is an auto working application, it takes, proceeds, and generates the results/reports itself. While in the manual system, you would not be able to process the data so quickly and accurately. Furthermore, you need to hire more employees for the work that Netchex can do for you with no more amount.
Save physical space
The Netchex receives and saves data in the soft form in its memory drive. It does not need any additional space for the placement of files and records. Thus, you can even manage your data room in a small office without having a large record room.
This application is designed to process the data automatically which does action promptly whereas, opting for the manual way of working you would not be able to generate reports so quickly. A manual way of the process takes too much time that not only increases the cost of operations but also affects the efficiency of the firm.
Improves accuracy level
Manual working does involve the risk of error which may be reduced with the use of Netchex. Netchex is auto-setup to process it according to the given mechanism, and thus, there is no chance of errors whereas, manually, while dealing with huge data, there are chances of making more mistakes.
Disadvantages of Netchex Usage
Besides the benefits, there are few drawbacks of the application that are as follows:
Association with computer
Netchex software is operated through the computer or similar machines that are not sure to be available every time. Yes, it is sure the computers are easily available in offices and you can manage to work there. But, sometimes due to the non-functionality of the system, it is not possible to access data immediately. Manual books are independent of any device or electricity, etc., thus they are rather easily accessible.
Insecurity of data
Netchex contains data in soft form and usually interchanges the information with other departments and individuals through networking. In case of memory device damage, you could have lost the data. You can even have lost or shared the data with an unauthorized person if you come into a cyberattack, etc. The hard form of data is rather secure.
More chance of data tampering
There are few bugs in every firm that commits data tempering to present their good performance or target someone else putting the firm's business at stake. The data is often tempered when the reports generated are not as per desire or ambition. Whereas there is very little or almost no chance of data tampering if recorded in hard form because it is countersigned by more than an official. Rewriting is easily traceable, so people avoid going for tempering hard form of data
In all, Netchex is one of the best payroll software in 2021 that can help you to complete payroll and management-related work quickly, easily, and at a low cost. Above all, digitalization is a trending fashion and you must use it to modernize your working styles.