The digital transformation of human resources has significantly helped businesses across India to sail through the crisis caused by the global pandemic, COVID-19. From healthcare to aviation, automobiles to media, HR tech has performed wonders to stop every sector affected from sliding into the dark pit of crisis, in ways that are unimaginable. The modern age of interactive tools deserves a fair share of credit in making it possible. By introducing new technologies such as payroll software to assist HR managers and save their time for other important tasks, technology is certainly winning the game. Need to mention, it is expected that such systems will expand even more than 100 per cent of what it is now.
After the outbreak of coronavirus, payroll systems were widely implemented in 2020. The majority of companies in India left behind outdated tools and switched to automated payroll systems to carry out their payroll processes from remote locations. Now, due to high demand, one can find a number of payroll software options in the market today. In such a situation, it becomes certainly difficult for companies to end up with the right software. In this blog, we will tell you four must-have features that make a payroll system the best of all. Without any further ado, let’s dive in.
If done manually, transferring payrolls is a complicated task. HR managers invest a lot of time and energy in preparing checks for each employee. This is when payroll management software comes into the picture. The top-notch payroll systems in India offer a feature called direct deposit. The direct deposit feature allows HR professionals to directly transfer employees’ salaries to their respective accounts in just a matter of minutes. This not just saves time for HRs but also prevents any risk of mistakes or frauds.
Only the best payroll management software in India comes with this feature. As the name suggests, the tax filing feature assists HR managers to calculate the taxes as well as file the same in just a few clicks. With zero human supervision, the software does this routine process on its own and makes sure that no errors are made along the way.
Compliance is a major concern of every company. That being said, HR managers are expected to stay updated about the new laws and regulations. Payroll management software simplifies this process for HRs as well. An efficient system will update the latest amendments into the system and send alerts to HRs, thereby helping a company to be on the right side of the law.
Every HR manager spends a large chunk of time on human resources operations. Amid managing a lot of tasks, they often do not find time for employees that in turn can impact the employee turnover ratio. Fortunately, payroll management software with an employee self-service feature empowers employees to a great extent. ESS feature provides every employee with the autonomy to do several tasks without having to disturb anyone.
So, does your payroll system have the aforementioned features?
If not, it is time for you to take a step ahead and switch to one of the best payroll management software in India.