Every function within an organization has a sequence of tasks that must be completed, as they serve as inputs for subsequent functions. Some functions initiate a cascade of tasks for other functions. Take recruitment, for instance, which triggers the generation of employee official and personal data. This data then serves as input for various systems such as the best HR software for payroll or attendance, security systems, accounting systems, and benefits programs. Once this input data is transferred to each respective system, it becomes the basis for numerous sub-functions within their own programs, including payroll services offered by payroll software companies.
While looking for a payroll management software, be aware that the sensitive and personal data of employees should be managed effectively. Ensure that only relevant data moves to the right sub-function for a specific purpose and it is being correctly used by authorised personnel.
Payroll practitioners and those who render payroll services must ask themselves some critical questions: What type of data is required by payroll? From whom should we receive it? When should the data be available to us? How do we receive it and in what particular format? What outputs are expected from us? What are our internal processes and turn-around time for outputs? Who are our stakeholders?
Once we have answers to all of the above, we get a clear vision as to what is expected of us and what procedures are needed to execute it.
Prepare a detailed SOP which will be a documental foundation for all payroll procedures and will define roles & responsibilities, segregation of duties, approval matrix, formats for input / output, etc. Based on the SOP, look for the payroll management software which can perform all of the requirements.
While most payroll system software will perform some basic functionalities such as pay computations, statutory compliances and report generation, we must look for such softwares that will provide more value-added features.
Here are some tips:
A good payroll management software must be able to manage most of the documented procedures as mentioned in the SOP, must be robust and flexible, reasonably priced and should provide good support and guidance. Use the above mentioned tips to find the best payroll software in India.
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