The efficiency of the digitalized accounting and payroll services of ReCom Consulting Ltd.

Abstract

ReCom Consulting Limited (hereinafter referred to as ReCom) is an HR & IT consultancy firm in Bangladesh with over 20 MNCs in their clientele. This study is on the topic “The efficiency of the digitalized accounting and payroll services of ReCom Consulting Ltd.” The study is primarily prepared to find out the efficiency of digitalized accounting and payroll services of ReCom among its users. In today's technologically advanced world, it is very important to use digitalized services for a better and more effective outcome. Even after using digitalized system mistakes can happen, if the user of the system is not an expert in the field. That is why clients outsource their critical payroll and accounting-related work to industry experts for an accurate and better outcome. The digitalized system has increased the efficiency of both ReCom employees and clients’ employees. The users can now easily download their pay slips, and tax cards, and management can generate and download various types of reports very easily with the help of a user-friendly interface. This allows the management of the client organization to relax and concentrate more on their operational and strategic planning for the organization's future growth. According to the survey results conducted on the HR heads of the clientele, they believed the digitalized system has motivated the employees to work with more dedication and concentration. And it has also allowed the management to generate variance reports more conveniently. Which increases the overall efficiency of the organization. To provide more quality service to the clientele ReCom can introduce a data entry platform where the HR departments of the clientele will input the data and upon data validation by the payroll expert of ReCom, they will integrate those data to process the monthly payroll. Furthermore, since the clientele of ReCom is expanding day by day they should move to a cloud-based data server for an easier process.