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Features offered by payroll software

Make no mistake: payroll management is an administrative task. It is important to recognize that its contribution towards aiding you to meet your business objectives ends with its role as a crucial hygiene factor. Given this, it would save your company precious time and man-hours if the effort required to roll out your payroll each month is cut down.

Enter HR and payroll software. These applications are built with this very objective in mind, i.e, to cut down the effort that you pour into payroll management pay cycle after pay cycle.

How does this class of software do this? Find below a listing of some of the key features of modern small business payroll software that allow them to achieve their objective in style.

Accurate salary computation
Intuitive and user-friendly, with no requirement to manage complex formulae and rules, let alone reference errors, copy-paste errors and the like (which traditional tools, such as Excel throw up), payroll software packs a punch when it comes to computing salaries. All salary components, reimbursements, settlements, arrears and statutory components, including income tax, are calculated automatically with only bare minimum inputs required from your end. Automated payroll software also gives you highly reliable output - a crucial requirement for the smooth functioning of any organization, especially growing businesses with constantly changing needs.

No-fuss payslip generation
The generation of payslips no longer needs to be a battle against time, not to mention one in search of confidentiality and security. Enjoy payslip generation with a few mouse clicks and mail them out to all your employees with no more than a single click. Out with redundant tasks, and instead, ring in efficiency. In addition, with options to print, e-mail or download payslips, payroll software also ensures you have at your disposal the flexibility you need.

Statutory compliance made easy
With in-built features that handle statutory compliance requirements automatically at the back end, you no longer need to worry about the nitty gritties of the matter. Whats more, modern payroll software is powerful enough (and then some) to handle the needs of growing organizations with rapidly changing head counts, and, with it, statutory requirements.

Employee self-service (ESS) spells self-sufficiency
The employee portal feature, or employee self-service (ESS) portal as it is commonly termed, essentially provides transparent and easy access to employees to information regarding their leave, attendance, payslips and expenses. This ensures your HRs time is freed up for more business-critical tasks and also minimizes employee queries.

Report generation
The generation of both statutory and MIS reports are handled ably by modern payroll software. In stark contrast, traditional tools such as Excel, call for extensive effort to make this possible. Moreover, the generation of MIS reports that call for custom reports and multiple combinations of data is nearly impossible with traditional tools. With payroll software, custom reports are a matter of setting up your reporting requirements - a one-time task - and voila, the required reports are with you month after month with no manual effort required.

Ah, the conveniences that technology offers! And this is only the tip of this most pleasant iceberg.

We invite you to further explore automated cloud payroll software and enjoy all these features and more, available to you today at less than the cost of hiring and retaining a payroll personnel.

Still on the lookout for other alternatives? Give payroll outsourcing a thought. Payroll outsourcing essentially takes payroll management outside the walls of your organization and hands it over to third-party payroll experts.
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