SystemSpecs adapts Payroll automation for SMEs

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An indigenous FinTech company; SystemSpecs, has adapted its Payroll automation technology for Small and Medium Scale Enterprises.

This was revealed by Akin Omojola, SystemSpecs’ Product Manager for Payroll and Human Resource Services. Omojola spoke about the need for greater adoption of local technology for Payroll during a show on Nigeria Info FM 99.3. 

Payroll automation refers to the use of computers to produce paychecks and manage benefit payments for a company or community. In addition to payroll, it can manage customer relationships, production, personnel resources, invoicing and accounting.

 According to Omojola, SystemSpecs has been providing Payroll technology to several large companies within and outside Nigeria for a long time and it is now time for smaller businesses to take advantage of the technology to improve their HR and finance processes.

“For 27 years, we have been the market leader in rendering this service to many large companies. However, we have come up with a system for smaller companies with low staff strength…. this solution will keep financial records. It will help them pay their taxes, salaries, and even pension at a go.”

The SystemSpecs executive said Nigerian technology providers have come of age and can now favourably compete with their foreign counterparts. Many providers are doing well, even exporting their services to other countries.

He mentioned infrastructure constraints and the complex nature of policies as some of the factors affecting technology providers in Nigeria.

He also advised Human Resource professionals to adapt by relearning and retooling so that they will not be left out of the payroll automation revolution.

On the level of government involvement needed to boost the capacity of indigenous technology providers, Omojola said,

“Gradually, we are getting more cooperation from the government in understanding the role of local content in payroll technology. However, there is still a lot to be done.”

He listed improved infrastructure and the promotion of investment into local technology as some of the ways government can drive the growth of local Payroll technology.

Omojola also spoke about the kinds of collaborations needed to grow the technology sector. According to him, Banks and Telecommunications companies should collaborate more with technology providers because they already have access to the end users. ention;}}{\*\d

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