Know When You Need Better Payroll Software
All this while, we’ve been discussing how critical is the payroll function and why it is indispensable for effective human resource management. The right system would help you save time, retain your best employees and keep your business machine humming.
If your payroll processing is becoming unwieldy and burdening your operations, it’s time you need to upgrade your software. We have identified the significant signs that are likely to indicate that your payroll processing method has become outdated and you need to consider replacing it with an advanced solution.
1. Does Your Software Make You Feel You Are Still Processing Payroll Manually?
Is your staff investing an excessive amount of time every pay-period to perform elaborate payroll calculations or make modifications?
This can happen when your payroll system doesn’t integrate well with your attendance software, as a result of which looking for payee information becomes a difficult task. Furthermore, managing payroll without proper software would waste your time that could have been spent executing strategic initiatives.
2. Are You Still Making Payroll Mistakes?
Whether big or small, payroll errors require rework and reinvestment of resources. In addition to the costs, you may have the risk of creating discontent among employees. This is less likely to happen when you use automated payroll software.
However, if you are experiencing payroll complexities despite deploying an automated solution, you would have to rethink your priorities and choose software that suits your requirements and fulfils your objectives.
3. Are You Spending Too Much Time and Experiencing Rising Staff Costs?
When you deploy the best payroll software in India, processing complex payroll becomes easier. The system would help you accomplish error-free results much more quickly and efficiently than your staff can do manually or by using some conventional software.
Also, inefficient payroll software burdens your staff with reworks, making them more susceptible to further errors, mismanagement and decreased productivity. The increase in processing costs would affect the business outcome and severely reduce ROI.
4. Do Your Employees Have No Access to Self-Service Portal?
One convenient solution that modern HR and payroll software offers is the employee self-service portal. It is beneficial to both employees and employers and saves a huge amount of productive time for the HR team. The tool allows employees to go online to access and take control over their time tracking, attendance, leave, payroll, performance management, and other information rather than turning to the HR department.
If your payroll system does not have this facility, you need to think about changing it for improving the information transparency and communication with your employees.
5. Do You Have Separate Systems for Payroll and HR Needs?
Payroll and human resource management are interdependent processes. Both are essential part of running a successful business. Collating data from these two desperate systems, without integrated software is a daunting, time- consuming task.
Your payroll software for small businesses and enterprises should not only be equipped with a unified database, but should also be integrated so that payroll automation could be achieved.
6. Is Managing Tax Calculations and Statutory Compliance is a Nightmare?
Incorrect tax calculations, filing past deadlines, and exposure to penalties are a matter of concern for every business. Oftentimes inept payroll calculation methods and the absence of advanced tools are responsible for these penalties.
Companies that use automated payroll software are able to pass these issues. These systems simplify the complications of tax calculations and avoid incurring additional penalties or fees due to mistakes or delays.
Making Payroll Processing Effortless
Take some time to review your payroll management system. If any of these signs prevail, treat them as the final call for switching to better payroll software. Ignoring these can damage the overall productivity of your business. You might even find that your payroll solution continues to drain your time and resources which could have been otherwise utilized for growth.
If you are looking for a modern payroll system, we can make this job of yours easier. Focus Softnet is a renowned business solution provider. We design the best HR payroll software that can be customized to meet your business demands. For software-related queries, fill in the form and talk to our product experts.