Payroll is one of the most essential parts of every company. Manual payroll processing has always been time-consuming and complicated. Fortunately, automated payroll systems are making things easier for companies lately. Such systems are taking over the Indian market like never before. Here are some amazing benefits of using payroll systems:
- Calculates payrolls accurately and efficiently
- Generates payslips automatically
- Notifies about changing laws and regulations
- Eliminates the burden of compliance
- Store vital data securely that can be easily accessed
- And much more…
Now, not every payroll system available in the market offers the benefits listed above. In order to acquire those advantages, the software must have some right features.
In this blog, we have handpicked the four most crucial features that should be considered while purchasing payroll management software for an organization:
Using traditional tools, HR professionals spend hours, even days to calculate each employee’s salary. After calculating, the next step they do is making their checks. All in all, they end up wasting a large chunk of their precious time.
This is when the direct deposit feature comes into play! Using direct deposit, HRs will never have to worry about anything as the software will calculate and process payrolls on its own. All an HR needs to do is give a command to the software and it will directly send money from the firm’s bank account to its employees’ accounts within a fraction of time.
Also, not every payroll software comes with this feature. If you want to avail direct deposit feature, make sure you invest in one of the top-notch payroll management software India has.
Outdated tools/methods are severely slow and error-prone. They do not provide much support to HR professionals. It is a well-known fact that HRs carry out every task on their own that not just drops down their efficiency levels but also leads to inevitable mistakes.
The best way to resolve this problem is through an automated payroll system. Such software streamlines and optimizes the whole payroll management process without any human intervention. It even assists HRs to take care of every minute details in payroll processing. If you wish to help your HR managers to save their time and energy, go for a payroll system that comes with the automation feature.
Employee Self-Service (ESS)
From processing payroll to generating payslips, HRs are expected to take care of everything without any fail. However, it is not as easy as it sounds. At the end of the day, they are also humans who can miss out on certain important tasks. Amid managing a host of routine tasks, often HRs fail to pay attention to employees and their queries. Thankfully, we have a solution to this problem as well, i.e. employee self-service feature that comes with the best payroll management software India has. This feature provides employees with autonomy to access several important factors such as their attendance, payslips, and much more. They can even edit any of their personal information that can save a lot of time for both employees and HRs.
We all know that tax slabs change every year and every company, be it small or large, is obliged to comply with them. Now, HRs often find it difficult to keep track of such changes that can affect the whole business both legally and financially. Luckily, companies can now avoid non-compliance with the tax-filing feature available in top payroll management software in India. The tax filing feature not just updates a company about changing laws and new amendments but also allows HR managers to calculate the taxes with zero error and delay.
That is it!
These are the four must-have features you should look for in a payroll system.
Now that you have got a clear understanding of them, we hope you will end up with one of the best payroll software offering all the aforementioned features.