A payroll team that moves from a manual to an automated payroll system can save a lot of time. Most of these solutions can be easily integrated with time, leave & attendance management systems and accounting systems. The right payroll solution not only helps in faster and accurate Payroll Processing but also keeps the employees, management and regulatory bodies happy.
These following factors should be considered while choosing a payroll software:
The payroll function can be very cumbersome. It requires a system that has comprehensive but straightforward workflows. If the software is intuitive, it reduces the need for software training and guidance. Also, the company that uses it has to ensure that the software provider has provided updated documentation that is easily accessible.
As the organization increases in size, the software has to address the changing needs. The needs can be in terms of the employee data it processes or features for leave and attendance management, reimbursement, etc. The software package should also offer optional advanced features at a reasonable price.
One of the primary payroll input providers is the employee. He provides information such as income tax-saving investment declaration, type of flexible benefit opted, etc. Manual data entry and form submission are the most common challenges faced by employees. An Employee Self-Service (ESS) Portal automates and expedites multiple tasks. Easy release of the IT declaration form, paperless online submission, auto sync with payroll data and accurate computations are some of the benefits of automating payroll.