21. August 2014 15:08
/
Manoj Dani
/
HRMS
/
Comments (14)
Managing the
human resource functions and payrolls of employees is a crucial part of any
organization, whether it is a small sized business or a big corporate house.
Since the net worth of a company and its taxation is affected by the payroll of
the employees, data integrity and accuracy is vital as they are subjected to
audits from the law of the land. Having software to regulate the functioning of
HR and Payroll procedures has many benefits which include:
Simplifies Task
Calculating
the payroll of your employees is never an easy task, there are many protocols
you have to follow to arrive at the actual salary to be paid out to the
employees. You may have to calculate the productive hours of the employees,
calculate tax and other deductions that are to be made. Then you have to
document employees’ leaves, attendances, reimbursements, and arrears which make
the job all the more mind boggling if done manually. But with automated
software the task is done by preset logical programming which results in
outputs with just few clicks.
Saves Time
Now if you
go for manual inputs and payroll calculations for each and every employee it
can be a time consuming process and cumbersome. Whereas the software automated system
does the backend calculations and produces periodic reports and paychecks in
quick turnaround time. Then again, the HR software is competent to track all
the employees’ activities and benefits right from their job applications to
retirement efficiently. Retrieving a single document from cluster of documents
can be done easily which saves production hours.
Eliminates Redundancy
Another
beneficial factor of HR and Payroll software in an organization is that there
is no redundancy. In an integrated software system you have a single database,
hence you input data once which can be shared and used by different departments
and processes. If the HR and Payroll software system is not integrated you can
connect them with a separate interface. But you have to regularly initiate
transfer of data between Payroll and HR software and keep them both updated to
the same level and while auditing you have to make sure they are on the same
page.
Accuracy
Manual
inputs and management of data is a tedious process and the authenticity of the
data can be questioned as it could be riddled with human errors. But with HR
and Payroll software you can be assured that the data is 100% accurate, and
since in an integrated platform there is one database, the data integrity is maintained
at all levels. You gains reputation with the industry auditors, and you can
rely on the information to make better decisions based upon it.
Security
Another big
advantage of HR and Payroll software is that it has tools using which you can
restrict the accessibility to the software. You can set up visibility
parameters to allow nominated persons to access the data which reduces the risk
of illegal manipulation or misuse of the data. The software tacks employees’ movements
as it captures the login entry of the employees accessing the data and making
changes to it.
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