The dystopia of using spreadsheets in the 21st century

Nowadays, we’re living in the 4th technological revolution: automation, artificial intelligence, and much more advanced technologies are involved in our day by day. This revolution is in a hurry, and still, some individuals have an inner feeling that does not allow them to change at the same pace as technology is doing.?

Just a recent study showed that around 85% of startups and SMEs in Egypt keep using spreadsheets for doing their payroll, but are they aware of the negative impact that it has on their business? If you still do manual payroll, we’ve gathered 4 reasons why spreadsheets are not the best way to manage your company’s payroll.

1. Complexity?

Doing Payroll is already a tedious and complicated process, adding extra complicated tasks such as including or modifying the formulas on it, will leave the doors open to errors and misinterpretation, and accuracy is not any more granted.

1. Non-compliance risk?

Spreadsheets are not resourceful, to keep track of your taxes you need to be up-to-date with those regulations, the sheets don’t allow you to automate your taxes, and your company will be responsible to file manually periodical tax reports, which can sometimes result in penalties.

2. Vulnerability?

The integrity of your data is not well-preserved. Payroll sheets are shared with many people involved in the process, and each of them can make modifications to the file, at the end the data on the file may vary on each end, and the inaccuracy is not avoidable.

3. Resource misallocation

How many talents are needed to fulfill a payroll? How much time do you think they spend on it? Being a non-automated process takes valuable time and talents that could be used in other strategic and more relevant activities for your business. Manual and repetitive tasks nowadays can be replaced with automated technologies.

Technology has come to ease our life, in an active and global world, companies should be fast and efficient with all their resources.

What used to take 15 -28 hours from one employee, with our product OVARC is possible to make in just a couple of minutes, effortless, and hassle-free.

If you are tired of doing manual payroll and want to discover how automation can help your business, drop us a line at [email protected] soon one of our specialists will contact you.