The time has come again!
What time? 25th of the month. The HR department has to again gather all the data from corners of their desk and do critical calculations. Processing payroll holds a lot of responsibilities. HR has to go through a daunting process of data management and calculations to get it right.
Imagine the time consumed behind this. One error and entire payroll of workforce into vain. Doing it manually has definitely got some huge percentage of chances of error. After all, to err is to a human!
Companies, especially small enterprises or startups, face difficulties in processing manual tasks and they are incapable of sustaining the after-effects of miscalculations. In today’s time, where businesses tend to perform remotely from anywhere and anytime, manual operations seem very outdated.
Take high performing companies – it can be seen that organizations are quickly switching towards technology and automation. HR technology can be seen being adopted at places to save time and costs. Time saved is money saved!
New age HRMS payroll solutions have the capability to save some great deal of hours and keep data at your fingertips. Escalated remote working and the need to cloud everything, has forced us to integrate cloud payroll software with our current HR system.
Below are some popular features of HRMS payroll software-
• Automated deposits
• Downloadable payslips
• Automated tracking
• Customizable templates
• Tax management
• Cloud support
• Data security, and much more.
Well, the aforementioned futuristic features look promising enough to improve a business payroll department. Let’s quickly look into the benefits of a cloud-based payroll system and also the reason to break up with your old traditional payroll system.
6 Top benefits of new-age payroll software-
• Time efficient
• Employee portal
• Curbed errors
• Employer compliances
• Recruiting support
• Scalable
Time-efficient
Businesses AKA payroll departments spend way too much time doing payroll every month and year. This also brings in chances of error that could put all the efforts into vain in seconds. On the other hand, using an HRMS payroll software can help you automate all HR & payroll processes, and also curb the probability of error in calculations.
Here you save a countless number of hours (and days if calculated) in payroll, which could rather be invested in performing other important HR activities. Some important activities include CSR, wellness programs for the workforce and similar.
The automated payroll software promotes time effectiveness at the firm and improves productivity.
Employee portal
A cloud-based payroll system provides anywhere and anytime access to its users like employees and HR. Talking about employee benefits, the solution helps them view their payslips, request leaves, learn company updates, etc. through their mobile phone itself. Such assistance can help improve employee morale and develop better relations at the workplace.
This also promotes a culture of transparency. Important employee data including joining documents, family details, PF, etc. can be kept safe and stored for a long. Employees can anytime access the information easily when needed.
Mobile payroll empowers you with mobility at work.
Curbed errors
Error at payroll can be catastrophic at times. Agree?
Committing errors at calculating pay and filing taxes can invite penalties to the organization. This may also sometimes lead to putting a permanent ban.
Errors not only include miscalculations but also underpayment or late payment. If your HR department fails to calculate overtime then it is outdated. Precise payments to freelancers, contractors, and employees are very important. Well, informative payslips are necessary to save yourself from fines or false claims.
Hence, an automated HR solution. HRMS payroll software helps you with easy report generation and keeps you compliant all the time.
Employer compliances
Managing payroll is not so easy. What challenges does it offer? Not just calculations, but adhering to compliances is another challenge. Some business owners fail and quit due to difficult compliances on the head. Following legal policies and procedures is very important for every organization.
Whereas, a cloud payroll solution helps you with easy compliance management and ensures zero penalties to owners. HRMS payroll software helps you generate foolproof payroll reports to keep you in the right direction.
Filing tax forms and abiding by laws is no more a challenge for the HR department & payroll cell.
Recruiting support
Employee hiring is one important HR function. Talent acquisition and retention must be followed by every HR professional to help succeed any business. They hire a dedicated team to help them in recruitment management. This increase hiring and HR expenses.
Hiring the right talent at once and not worrying about their retention is a dream of every recruiter. Failing to engage one and re-hiring employees invites time loss and money.
Cloud payroll services can help you with effective hiring including background check support that increases the prospects of making excellent recruitment and prevents bad debts. Integrated recruitment management solutions can bring data at one place.
HR need not wander here and there for required data/ document for any function. The payroll solution streamlines all HR functions thoroughly.
Scalable
There is a huge range of cloud payroll solutions in market. Not every software may suit you. A scalable payroll software can help you achieve any function easily. Irrespective of company vertical and size, your HR can process payroll with any scalable and cloud payroll software.
Flexibility is one very important factor for success in today’s date. Find one such solution for your department and see no more irregularities. Manual payroll seems to be failing once business’ size increases. Here comes a cloud payroll solution.
Dropping the curtains-
Recite “sayonara” to payroll blues!
Stuck no more amidst payroll and HR operations. Bring yourself customizable and cloud HR software today. Make your payroll operation a matter of click and curb down errors.
Do not forget the tips mentioned above.
Good luck!
Happy payroll processing!
Author bio-
Ritik Singh writes about HR software in India, cloud, and enterprise technology. A dynamic content writer who writes for Pocket HRMS, a leading provider of cloud-based HR software with inbuilt AI-powered HR Chatbot (smHRty) to small and mid-sized businesses across India.