Give HR Function a New Lease of life by Deploying HR Software Gone are the errors prone days of calculating payroll

on excel sheet, manually generating and distributing pay slips to employees and then spending the next week or so responding to employee queries and recalculating salary due to incorrect deduction or extra payment. Payroll Management system enables easy management of all aspects related to employees financial dealing with the company including salary, reimbursements, taxation etc. A well designed payroll software goes beyond mere calculation of salary, it enables an organi!ation to monitor and track cost and expenses against each employee. Ad"anced payroll modules also pro"ide for an employee self ser"ice application wherein employees can "iew their pay slips and other details online when needed. #he $%% module remo"es much of the administrati"e burden associated with payroll management as all information pertaining to their indi"idual finances,with respect to the company can be accessed by employees through their own unique &' and password. #he extensi"e range of reports and features a"ailable is what distinguishes a good payroll system from an a"erage one. (.Automation of salary calculation based on formulas for tax and allowances ).Auto generation of pay slips *.Manage statutory payments +.Greater control o"er data ,.-educes time and effort spent on administering payroll manually ../laims management including 0ocal /on"eyance, #ra"el Modern payroll systems are designed to be flexible and adaptable to integrate easily with an organi!ations existing 1- system or 1uman -esource &nformation %ystem making it a single window for all 1- information and acti"ity related to employees. #he $%% application when combined with the 1-&% and payroll system helps to streamline the entire 1- process and make it paperless as all appro"als and forms are then submitted and appro"ed online rather than on paper. #he greatest benefit of employing an $mployee %elf %er"ice Portal is that it makes dissemination of information to geographically dispersed employees easy to administer and manage. Also since the onus of updating his or her information in the system lies with the employee, employee records generally tend to be more rele"ant and efficiently managed. #he prominent features of a good $%% are (.Ability to "iew 2 edit personal information ).%ubmit #ax declaration online *.3iew pay slip and tax working online +.Makes it possible to submit tax returns online ,.Manager access to "iew team member records ..'efine workflow for employee 4oining and exit A hallmark of a good 1- software is its ability to scale up to add on more features and module based on requirement. &n todays scenario when organi!ations are looking at automating administrati"e and repetiti"e tasks to reduce operational costs and free staff for more "alue adding acti"ities, it makes sense for organi!ations to opt for an integrated 1uman -esource Management system or 1-M% which co"ers the entire employee life cycle.