| One of the important functions to manage | | | | join in the middle of a term as the processes are |
| business is handling the human resource | | | | manual. Ultimately, businesses may find that |
| processes. And, among the issues one would | | | | without the right program, business can not grow |
| encounter about human resource function is | | | | as quickly as planned. |
| handling the payroll. Payroll departments are the | | | | A payroll solution software or program could |
| backbone of any business and managing these | | | | make small and medium enterprises improve the |
| processes efficiently is as important a task as | | | | overall operational efficiency. It helps in Computing |
| conducting other business operations. A manual | | | | salaries including statutory computation of PF and |
| payroll system is a hectic task; a company with | | | | ESI, Reimbursements as per CTC norms, |
| few people can maintain a manual payroll process, | | | | maintaining employee master details and |
| however, it is a time consuming task and | | | | correspondence in respect to letters, emails and |
| frustrating to try and run an HR or payroll shop | | | | documents in an organized manner, Keep track of |
| with a mismatched puzzle of spreadsheets and it | | | | Employee leave taken and loan availed. |
| only gets more complex as your company grows | | | | The second reason to consider this type of |
| Payroll administration is a burden to small | | | | payroll software is that it makes meeting any tax |
| companies and at the same time a very crucial | | | | obligations much simpler. Calculation of Income tax |
| activity which is repeated every month involving | | | | is another routine and pain staking activity that |
| complexities related to calculations, deductions and | | | | needs to conform to government regulations and |
| statutory regulations. While many companies may | | | | norms. A good software package can help to |
| go with processing the employee payroll side | | | | automate this activity for greater efficiency and |
| manually, this is not achievable amidst growing | | | | accuracy. |
| business. A robust and cost effective business | | | | For a small and medium enterprise, investment in |
| payroll software is a must to handle payroll | | | | software to automate processes is crucial in |
| processes in order simplify the task and to | | | | terms of cost and benefits. That's why it is |
| capitalize on the efficiency in the long run of the | | | | important to choose a solution which is easy to |
| business. | | | | use, customizable to the specific business |
| Small businesses are often too small to justify the | | | | situations, scalable and robust with tools for |
| cost of employing their own HR department. In | | | | making software meet the needs of growing |
| these cases the responsibility of payroll | | | | business. Essentially, it should help to streamline |
| administration can fall on anyone, from the | | | | the entire process, making the task of processing |
| managing director to administrative assistant. | | | | payroll less time-consuming and error free. |
| While they can go with handling the payroll | | | | When we take it in Indian scenario regarding |
| manually, but this is not just right way and a | | | | software vendors for payroll software, we can |
| payroll solution early in the business life cycle help | | | | find two kinds of vendors. First one is very small |
| save both time and money. | | | | companies providing payroll software and second |
| Payroll processing is an error prone activity - If | | | | one established big software players. |
| organizations have just one or two employees it | | | | While deciding on payroll software buying we need |
| may seem relatively easy to compute salaries | | | | to keep in mind: |
| outstanding, taxes etc, but as small business | | | | 1. Compliance with tax rules and regulation |
| starts adding employees they find spending more | | | | 2. After Sales support |
| and more time in computation of salaries including | | | | 3. Software upgrade support |
| variable pay. Errors are common in the full and | | | | 4. |
| final settlement and increases when employees | | | | |