Paperless pay simply means eliminating the paperwork in every process of payment to the employees that will also reduce the cost of the company and it will be delivered faster in a convenient way to the employees.
Paperless Pay – Electronic Payroll
The employees are advised to use my estub account as it is the first step for moving towards paperless pay. Paperless pay simply means that every company is moving forward and making the most of available technologies to pay their employees without printing on paper or distributing paper cheques to their employees.
There are many other components associated with paperless payroll process. This process completely eliminates the use of paper relating to the employee payroll process, hence electronic payroll process is the heart of paperless pay.
Efficiencies gained throughout the Payroll Process
The paper based payment methods had many steps to cover as it was a traditional method but later the HR executives realised that manual time collection distribution of paper cheques these are great opportunities for gaining efficiencies and reducing costs
As we know paperless pay uses electronic methods that replaces the use of paper and this will reduce the need of manual labour in handling the time reports, delivering and distributing the paper paycheques, W2’s and so on to get information about their payroll employees can simply login to my estub account.
Paperless pay is a good way to reduce the errors that are caused during paper based process and it’s been real time access to accurate data that ensures the employee transactions and enquiries are verified.
Accessibility to all
Employees have convenient access to their paperless pay information as these paperless pay solutions are available through web or telephone and the employers are able to meet these requirements being in different states as well and they can also access their account.
When employees incorporate the payroll option it means that every employee can receive their payment electronically or through electronic payment method.
Benefits for the employer and the employee
There are enormous benefits of paperless pay initiatives. Benefits such as cost reduction in the production and delivery of payment to the employees is the key benefit of paperless pay and it helps many organisations.
Also the service levels for employees are boosted by secure access to their personal payment information as well as the self service transaction such as reporting, time managing, direct deposit, changing W2 information and much more.