Business

Benefits of Implementing Payroll Software or SMEs to Big Organizations

It’s a very cumbersome task to manage the financial and payroll processing of any organization which burdens the human resource team of the organization with managing the employees and also carrying out the HR related activities. The traditional way of managing the company’s employees includes a no of HR’s in a team which had roles and responsibilities to complete the activities which were related to attendance, payroll processing, performance management, expense calculation and also onboarding. These were a very daunting task for the human resource as it required a lot of manual effort and time to carry out the operations successfully. The manual intervention of human has to lead the payroll processing to have many errors which have resulted in employee dissatisfaction. The date of remuneration was fluctuating due to error which was the main reason for the high rate of employee turnover. A solution was required which will overcome the challenges faced in the system used before which gave the birth to payroll software and was a boon to all the HRs in the world. The solution helped to cope up with the organizational and employees need formulating an environment which helped the resources to stay and grow. There are still many organizations which are doing processing with traditional systems and are not experiencing efficiency. Many business tycoons have experienced that implementation of the payroll software has made their work environment better in every sense. Following are the proven benefits of implementing payroll software in your organization:

Improvised Strategy Making:

It happens with every HR that they are kept busy with the payroll processing of the employees and they do not get the opportunity to invest their time and effort in contributing to the company’s development. With the help of automation, a company can assist their human resource team and management of the company so that they can get time to make future plans for organizational development. If the managerial authority will get the time they will have some blueprint to expand the organization and jump in new sectors. With the help of cloud-based software, the management gets wings to fly towards new horizons.

The decrease in Operability Cost:

It was a scenario where the number of HR working in an organization was more due to the manual working of the process. This in-house team of HR has increased the operability cost of the company which could have been easily reduced through payroll software. This automation solution will have no maintenance and also has a flexible subscription which helps the company to make better investments. A single software can handle all the process of salary management with efficiency and perfectness. It also requires a very less number of HR to operate and monitor the reports of various HR activities.

Location Tracking:

With the advancement of technology, there has been a great improvisation in monitoring the employees. There are HR and payroll software which are featured with advance location monitoring through which the company can track all the employee’s real-time location who are working on the field. These employees are given live instruction to optimize their client visits and saving their effort by smart routing. The geo-fencing is also an assisting feature to attendance which will virtually fence the office location and client locations of the company. The employees have to punch from the respective area from their mobile devices. This kind of location features a great authentication for the company to ensure the task is done in the way it was expected to be.

Security:

The information storing facility used in the early organization was more vulnerable to being secure. Company manually managed the data in their registers which made tampering and losing the data easier and prone to being insecure. With the introduction to payroll software, the data is stored securely in servers which are guarded with hardware and software firewall to monitor the incoming and outgoing traffic. The authorization and authentication of the accessibility make the data secure and non-vulnerable against any kind of threat. There are backup servers which are frequently engaged in taking the backups of the data so that in worst case scenarios the data can be made available to all the clients. The use of encryption technology to store data in a secure format has made the data integrity more efficient where the authorized employee of the respective company is only able to access the information.

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Shy Lee is an Associate Digital Marketing Manager at factoHR , a India based hr and payroll software solution providers. A creative marketing strategist with over 8 years of experience developing digital marketing strategies and guiding business development

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