To support businesses in Wales, Superfast Business Wales have created a new digital toolkit designed to help businesses improve efficiency, streamline operations, boost security, and often reduce costs.

Listing over 100 cloud-based solutions, the digital tool kit directory will help you find software and services you can rely on. All products listed are presented for information and research only, and any recommendations are not designed to be comprehensive or act as a specific endorsement from Superfast Business Wales.

DOWNLOAD A COPY OF THE DIRECTORY HERE

In the second part of this series, we look the Human Resources sector and the benefits of using cloud based software.

HR software is now the preferred solution for many businesses, replacing outdated paper-based HR methods, filing cabinets and disjointed systems, such as spreadsheets and word documents.

In today’s digitally connected world, businesses are moving towards cloud based systems on the internet for many business functions, and specifically HR.

The benefits of cloud-based HR systems

There are many reasons to use cloud based software within your HR functions, from maintaining and tracking personal information (including: pay, skills, training, and achievements), to providing self-service options for leave of absence requests. Dedicated HR software can also reduce the burden on HR staff, letting them focus on the people they’re serving.

• Compliance Management: Ensuring your team is up to date with HR and employment laws is essential and cloud solutions make this process efficient as you can adapt your procedures and features when you need to.
• Data Insights: All your data and information is effectively stored in one place, enabling you to have a more detailed analysis of each employee.
• Efficiency: Embracing online software helps to cut down on the amount of admin tasks, as cloud-based software manages much of this for you.
• Centralisation: Everything is in one location with cloud-based HR software. Meaning you can access essential data from wherever you are. All your data is hosting in one central depository meaning, nothing gets lost.
• Cost Effective: Some legacy software systems can be expensive, whereas many cloud based HR services offer a range of budget options and in some cases can make significant savings for your businesses.
• HMRC Responsibilities: Payroll software can make it easier to account for any staff payments, including submitting PAYE information to HMRC accurately and automatically. While you can buy standalone payroll packages, you may be better off buying this as a bundle with your financial reporting software.

In April 2019, Making Tax Digital for VAT came into force and this requires registered businesses with a taxable turnover above £85,000 to keep records in digital form and file their VAT Returns using software.