What are the benefits of an Integrated HR andPayroll Software?
When a company is moving from a conventional payroll system to payroll software, there are many conditions to consider because every business is different in its way concerning administration and other factors.
To be honest, hiring a payroll software seems to be the conventional method of payroll processing today. While choosing a payroll software, many benefits come with it because the central ideology of the software was created to reduce human effort and also save time.
You save time
One of the most critical factors every entrepreneur would like to hear because their valuable time could be spent on more useful things. With one-shot dashboards like inventory management, payroll management, recruitment management, etc., handle all your company requirements and take complete control of your company.
On an average, every employee takes 1 minute to do calculations, whereas a payroll software would be able to do that in 20 seconds with the help of automation. Also, consider spreadsheets, for instance, it would take about 5 minutes to calculate the hours put in by every employee whereas it would take only a few seconds to figure this and enter into the dashboard for salary calculation.
Stay Online and Updated
With the help of cloud technology, stay connected every moment with the help of an internet connection and also stay updated from time to time on the changes occurring in your company premises.
You stay more organized
With every module you require, stay in one place like payroll management modules have everything related to payrolls like deductions, permissions, having a track of every timesheet, leaves taken, etc. With a view like this, you would never need to search and retrieve data for easy perusal.
Since every information is saved in the cloud and not a physical server, you do not need to store the data on a physical paper which also leave no carbon footprint. This enables companies and the employees’ to view the data and alter it if required.
Automation is the key aspect when it comes to choosing your payroll software. When every module of the framework is automated, the only work left for HR’s and entrepreneurs is to store the data after any expenditure, the hours put in by every employee, etc. so that later you can create payrolls and create accurate budgets for the fiscal year.
By comprehensive reporting, get every report from pre-loaded graphs and charts for having a better understanding, physically whether the company is moving in the right direction or not. The employees’ do not need to spend much time on creating yearly and monthly reports which are required by the company because it is already available in your payroll software.
Even though many people may disagree that a payroll software is costlier than a regular calculation software, by choosing the right plan and the right software, you would be able to reduce costs drastically, and this remaining currency can be used on improving the infrastructure of the company.
Employee Self Service
By allowing employees’ to perform their duties like marking attendance, asking for claims and advances, this will enable them to hold power to ask for what is required and can be accepted or rejected by the upper hierarchy. Also by allowing them to view and change payroll information gives them the control and also an HR would be able to see their data which helps in avoiding misunderstandings and discrepancies.
Make accurate tax payments
One of the critical part when it comes to running a company is paying taxes and other payments on time because if it is not compliant with the government norms, you would have to pay huge penalties. With the help of automation, make the right deductions so that you do not burn a hole in your employees’ pocket.
Dedicated Customer Service
Every software tends to break because of a ‘bug.’ To assist you with this, a reasonable payroll software must come with a dedicated customer care service to help you out with urgent needs and requirements.
There are many more benefits of choosing a payroll software. Choose HR2eazy, an integrated HR and payroll software to reduce your time in making calculations and reduce the functioning cost of the company. Please visit www.hr2eazy.com for more information.