What is FairPayroll & how can it help you?

What is FairPayroll & how can it help you?    

A software solution with detailed payroll planning & analyses for efficient cost optimization   

Any organization’s biggest assets are their employees. Whether a company flourishes or fails, no matter what the industry, employees serve as the backbone. You may have a great service in mind, but if an employee costs you too much, or you do not know how you can optimize their presence in the company or at your hotel, or plan their payroll costs efficiently, you may be losing a lot of money.    

In order to plan payroll expenses easily and efficiently and optimize costs and potential savings, it is best to use a software solution and avoid manual errors. With excel sheets, a mistake can become inevitable and critical. Furthermore, it does not allow you to oversee all the departments all at once if you have a huge workforce.    

FairPayroll enables accurate planning of all relevant costs per employee per department   

FairPayroll, a software solution by Fairmas, enables accurate planning of all relevant costs per employee and per department that result in precise analyses for all management levels. This means that you can freely plan relevant costs per employee even if they work in more than one department. For example, if one of your employees works in two different departments, including the reception desk and event management, you will be able to apply the salary to both the positions freely in the software and optimize costs directly by having an overview of all relevant costs. This will allow all management levels to have a more precise analysis of the employee planning.  

Furthermore, FairPayroll also allows you to perform several possible calculations for salaries, incentives and bonuses, employee taxes and benefits, hours, EFTE (Effective Full-Time Employees) and FTE (Full-Time Equivalents).   

Improve thorough payroll planning & analytics for effective cost optimization  

The core feature of FairPayroll is the manning guide with a department filter for convenience. You will also discover a simple method for distinguishing between employees, agencies, and management personnel including a different mapping to the FairPlanner accounts. FairPlanner is Fairmas’ hotel-specific software solution to efficiently plan your revenue, costs & profits for all areas of your hotel. By using FairPayroll, the experience of thorough payroll planning & analytics for effective cost optimization is improved.  

Reduce your workload and avoid errors   

The solution encompasses budget, forecast and what-if scenarios with an interface to P&L planning for the same scenarios in FairPlanner. 

With FairPayroll, you can easily plan per employee, multiple employees or even groups of employees at the same time. You can also edit in bulk using the assistant feature. The assistant feature allows you to make quick changes. You have a variety of options that are applied directly with one simple click. You do not need to enter and change data manually in each cell, the assistant feature allows you to change it directly simply with a click of a button. This flexibility enables you to reduce your workload and make the best decisions for your business and employees while avoiding any trivial errors. Furthermore, all changes are synchronized from FairPayroll directly into the same scenario in FairPlanner to keep all your data up to date across the board.  

Upcoming features include taking base & variable staffing into account & more  

The software solutions provided by Fairmas remain cutting edge as the market changes and innovation has more significance. In light of this, FairPayroll will soon receive new features. You will also be able to make plans that consider base and variable staffing based on productivity benchmarks from the same scenario in FairPlanner. This freedom to consider variable staffing, including sick pay and accrued vacation time will enhance your productivity and profitability.   

 Another new feature will allow you to distribute the payroll costs of an employee working in different departments directly as a percentage. What this means is that if you have an employee who is hired for two different departments, and you would like to distribute his salary with a certain percentage ratio I.e., 40% in one department and 60% for another department, FairPayroll will allow you to directly apply the percentage and distribute the costs for you based on your demand. You will not have to manually make the changes or figure out how much cost is incurred based on the percentage distribution per department anymore. It can be applied automatically and with ease, avoiding errors and increasing profitability.  

Want to learn more about FairPayroll? Meet us in person at BTL in Lisbon & ITB in Berlin or simply contact us through our website   

If you are interested in learning more about FairPayroll or any other software solution by Fairmas, you can drop by our booth at BTL happening from 1st – 5th March 2023. The Fairmas booth will be present at Pavilion 3 Stand 3F20 at FIL Lisbon. Furthermore, you will also find a Fairmas booth at ITB happening in Berlin from 7th – 9th March 2023. The Fairmas booth will be present at Hall 8.1 Stand 137 at Messe Berlin.   

In case you would like to book an appointment or will not be able to attend either of the events, but want more information, you can directly contact our Business Development team here: https://fairmas.com/contact/    

  

  

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In the fast-paced world of hospitality, efficient data management is crucial for maximizing hotel assets' potential. Fairmas data management software offers ready-to-consume reporting, streamlined data collection, and 24/7 accessibility. This empowers hotel asset managers and owners to enhance financial performance,...

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