EFFICIENCY AND BENEFITS OF AUTOMATED PAYROLL SYSTEMS FOR UKRAINIAN COMPANIES

Abstract

In this article, the author examines the key aspects of efficiency and benefits of using automated systems in payroll processes for Ukrainian companies. In the context of the current challenges of globalization and the need to increase competitiveness, automation is becoming an integral part of strategic management and optimization of business processes. The study emphasizes that automation not only increases the accuracy and reliability of calculations, but also reduces the time and resources spent on accounting operations, increases the transparency of financial flows and helps to establish trust between employees and employers. The article discusses the main advantages of implementing automated systems, such as simplifying access to up-to-date information, improving the quality of management decisions through prompt data analysis, and ensuring that calculations comply with legal requirements. Considerable attention is paid to the need to adapt and constantly update systems in accordance with changes in legislation, which requires companies to be flexible and innovative in their accounting management. The analysis shows that, despite the initial costs of implementing automated systems, the long-term benefits far outweigh the potential disadvantages. Increasing the efficiency of business processes, reducing the risk of errors in calculations, improving management reporting and analytics are just some of the key factors that contribute to the sustainable development of companies. The article shows that automation of systems increases the efficiency of data processing, reduces the risk of errors, and simplifies access to information in payroll. It allows companies to focus on strategic planning, increasing their competitiveness. The article highlights the current issues of automation in the Ukrainian context, offering an overview of the potential of technological solutions in improving payroll processes. The findings of the study are relevant for company executives, CFOs, accountants, and researchers studying the efficiency of business processes and their optimization through automation.