HR & Payroll
Human Resources has always occupied an integral space in business. However, this essential function can often get tiresome using the conventional method of maintaining and managing non-secure copies. Maintaining and securing the huge pile of paper records, cumbersome and easily hackable sharing systems, and easy to forge or duplicate data files have made the lives of HR & Payroll personnel a nightmare.
How can ProofEasy help?
The HR & Payroll is a very important part of any business. But today, it is riddled with several problems, making the life of such personnel a nightmare. Let us look at the problems generally faced by them and how can ProofEasy help in making the HR & Payroll department’s life painless:
Data Forgery and Fraud
The first issue that may occur in high volume HR processes is forgery and possible data breaches. The tasks that HR Teams often handle involve the processing of confidential information, which includes sensitive information or data of the employee, disciplinary and performance records, expenses, information regarding projects that an employee had undertaken, and the benefits that an employee may accrue. Data of this magnitude is maintained using conventional methods at the risk of getting exploited.
Cumbersome Security Systems
For many companies, data security may be an expensive proposition. Numerous companies rely on antiquated and out-of-date data security solutions, making their payroll system susceptible to attacks. Often, an unintentional lapse in supervision may have the most devastating effect on employee data. Someone must constantly monitor the whole system, ensuring that no data is compromised.
Furthermore, Payroll processing in the traditional sense requires substantial manual labor; this is because the payroll staff must consider various factors while doing computations. Additionally, conventional Payroll Systems do not facilitate today's requirements such as ensuring secure data records. This is especially important as one may need to establish a separate data record for different cases, such as quick advance salary payments and rapid reimbursements. Manually managing such tasks is very time-intensive, not to mention inefficient.
The Blockchain technology would not only accelerate but also reduce time lags associated with the conventional verification processes of HR & Payroll.
Using Proof Easy for the Prevention of Tampering of Documents
To overcome these issues, ProofEasy uses Blockchain technology to prevent data breaches and to maintain security. Blockchain is known for its incredibly secure and risk resistant technology. Its securitisation capabilities define Blockchain's role as a game-changer for human resources. Using ProofEasy can help remove both fraud risks that may occur internally and also the external breaches of sensitive employee information. Access to the Blockchain is restricted and regulated, and those who do have access cannot alter the record unilaterally. This can be especially useful to prevent tampering of Payslip Data, Service Reference Letters, etc.
Blockchain technology effectively decentralizes data, which acts as a critical barrier against hacking and fraud. This technology prevents internal fraud as well as external hacking of confidential personal data. It effectively ensures a tamper-proof solution to ensure security. In the digital era, data is a universal currency for businesses. It is rapidly becoming one of the most valued assets of a business. Since blockchain data is distributed over a vast group of computers, it is analogous to distributing a person's most essential possessions across many places to reduce the chance of being significantly affected.
Using Proof Easy to Streamline Security-related Issues
Using ProofEasy can help overcome data security-related hurdles, which provides more versatility, accountability, and efficiency for both the company and the employee on a local and global level. Global businesses, in particular, may profit from blockchain technology when it comes to maintaining cross-border data records of employees.
The company and the employee may agree on the conditions and the employer may share the signed contract via mail, which exposes the contract to data forgery.
The transparent, and real-time blockchain ledgers assist in keeping a track of all the files and enables transaction distribution, and reporting. Additionally, there is no need to worry about the security of the data being shared or if the data has been tampered with. Blockchain not only encrypts the data but also ensures that the data becomes impossible to be tampered with.
The transition to a paperless environment necessitates that the HR divisions be proficient at using the technological advancements that enable such documentation and validation. Blockchain as a technology applies to more than just cryptocurrencies, and their applications are immense.
Using the technology that ProofEasy utilizes, data security can be increased. This technology protects the user from internal fraud and external breaches. ProofEasy takes this cumbersome function and simplifies it to ensure security and ease of management using the Blockchain Technology. Using the patented QR Code and Blockchain Technology that ProofEasy offers, Human Resource systems will be made simple, secured, and more streamlined.