Advances in technology render more practical solutions useful to the population, making certain tedious practices obsolete. The UAE is a global leader in progress and development and a huge factor in this rapid growth is its investments in automated technology. Automations are proven to produce higher production rates and increase in productivity, consistent good quality results, and improved customer experience. Automated technology in the UAE has come a long way – from easier payment of bus fares to shorter airport lines owed to the smart gates to quick and efficient automated payroll processing in companies.
What is the Wages Protection System (WPS)?
The Wages Protection System (WPS) is an automated payroll system introduced in the UAE in 2009. This is an automated system that ensures accurate and timely salary payment. It is aimed to benefit the workplace as a whole. The company can benefit from several advantages such as reduced time and cost utilized in computations, faster backtracking for payroll records, and easier customization of wages. The employees subsequently receive correct and prompt wages free from mistakes caused by the occasional human error, gain transparent payroll records, and receive fair and quick salary adjustments in accordance to increases, bonuses, or updated payment policies.
Why are companies adapting the use of WPS?
Estimations are computerized. WPS allows the management to calculate salary estimates for new employees as soon as they are hired. It also easily calculates pay for employees that are departing the company. Applying changes due to adjustments in pay policies are also made simple with the editing feature in the WPS. All changes in the system are made-known to the employees for a transparent, hassle-free exchange.
Easily-customizable payments. Additional categories such as housing allowances, bonuses, or commissions can be inserted into the system. Compensation histories are also stored and are viewable anytime.
Multi-currency payment. Employees in different branches in the Middle East region can be compensated without difficulties through trouble-free computations with the use of the multi-currency payment system.
Manage expenses smoothly. Employees can submit receipts and various documents in the system for faster approvals. As opposed to time-consuming reviews and evaluations, this system allows for faster permits or rejections by using customizable conditional systems. When requests are approved, they are promptly updated into the system. These adjustments are accessible to both employers and employees.
Seamless oversight of advances and reimbursements. Track advances and reimbursements through effective scheduling. Through this system, a company’s credits and debits plus total liabilities can also be managed.
Operate multiple payrolls at once. Different periods for salary release tailored to your business type, be it weekly or monthly, can be done effortlessly with the WPS.
Straightforward upload, store, and download interface. Companies can submit important documents and access or send them effectively for additions, deductions, payment purposes, and more. Detailed payroll histories can also be accessed in the system.
Adopting the Wages Protection System can provide tremendous advantages to the entire workplace. Reduction of mistakes can lead to better use of a company’s time and resources whereas a streamlined salary process can boost an employee’s trust and morale, strengthening employer-employee relationships effectively.
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