In a short period of time, payroll systems have emerged as the most popular HR software in the Indian market. Payroll management/ processing has always been one of the most cumbersome but essential human resource operations. This is the main reason why such software is in high demand today. If your company has not yet switched to online payroll software, it’s high time to bow down to peer pressure. That doesn’t mean you should invest in any payroll provider. When it comes to payroll, every company deserves the best.
In this blog, we will discuss the top four features you must look for in a payroll system:
From managing payroll data, calculating every employee’s salary to preparing their checks, manual payroll processing is nothing less than a nightmare. All those traditional tools are considered acutely old school at present.
Fortunately, payroll software makes this routine process efficient and fast. HR professionals can actually process salaries in just a few clicks using the direct deposit feature. The direct deposit feature allows sending money from a firm’s bank account to its employees’ accounts within minutes. So, no more worrying about losing a check or any check-tampering fraud.
As mentioned earlier, traditional tools are inefficient and time-consuming. Using such tools, HRs carry out every small process, from checking leaves to calculating employee benefits, on their own. This indeed makes room for costly errors.
But the payroll system significantly takes the burden off HRs’ shoulders by automating each and every payroll task, thereby saving a large chunk of their time.
Employee Self-Service (ESS)
Whenever employees have any question or confusion related to their credited salary, the first person they run to is their HR. HRs, on the other hand, invest their precious time in helping these people and clearing their queries. Let’s face it; this eventually wastes a lot of their time, taking them away from other essential duties.
This is when Employee Self-Service (ESS) comes into play. This feature helps employees to view and edit their own data anytime, anywhere. Need to mention, they can even access their payslip and acquire a clear understanding of their salary.
This is yet another vital feature you must have in your payroll system. The tax filing feature typically allows calculating every tax a business owes. Talking about manual methods, HR managers have to juggle for hours, even days, to complete this process. Additionally, manual tools do not alert companies about the new amendments. With new changes happening every other month, such as the 10 day period leave, it is important for every company to stay ahead of the curve using the right software.
No matter what is the size of your company or what your payroll needs are, it’s likely that the features described above will reap ample benefits to your business. All you need to do is invest in one of the best online payroll software at the earliest, replace those manual payroll processing methods, and maximize your HR team’s productivity.