Dear Readers,
We have prepared a small demonstration of the efficiency of the Payminator application through a case study of an unnamed international technology company with more than one thousand employees.
For a company with over a thousand employees, processing annual tax reconciliation and taxpayer declarations manually on paper every year would be extremely time-consuming. If a payroll accountant had to go through the annual tax reconciliation and the “pink” taxpayer declaration with each employee individually, it would take approximately 128 hours. In addition, it would also be necessary to include the time spent reviewing all supporting documents required for granting tax rebates and manually entering information about which rebates each employee wishes to claim into the payroll system. However, the Payminator application eliminated all of this work.
The application is designed so that employees can complete the process themselves within just a few minutes, even without any prior knowledge of the topic. Payroll accountants only receive requests that already contain all the necessary supporting documents, which they can either approve or return to the employee with comments for revision. The average time for an employee to complete a request is no more than 5 minutes, while a payroll accountant spends an average of 6 minutes per request. The data is then automatically exported into the payroll system, eliminating concerns about manual errors. Thanks to this, the application saved payroll accountants more than a full week of work.
The online application is also environmentally friendly. All supporting documents are automatically archived within the application, so there is no need to print and manually store them. During the 2023 annual tax reconciliation process alone, the company saved more than 30 kilograms of paper.
And because financial savings always matter most, the company also reduced the costs of processing tax forms by 30% compared to a traditional paper-based annual tax reconciliation handled by an external consulting company.
Your Payminator Team
