Have you been processing your payroll with the help of an on-premise solution? It’s time to look at the array of benefits that Cloud based Payroll software solution offers!

Organizations are seeking better, more employee friendly solutions to drive the workforce. It is only imperative that Payroll is automated and made more flexible, accessible.

Why are businesses moving to the cloud and you should too?
  1. Accessibility: Countless IT departments are consciously moving towards cloud based solutions. One of the primary reasons for the change in demand for an on-cloud payroll solution is its accessibility for employees on-the-go. Organizations that have set up their teams across the globe, can enable employees with access to information at any time from anywhere, through any device. There’s no need for employees to be at their office to access relevant payroll information.
  2. Feasibility: Cloud solutions reduce IT resources such as hardware and server cost, which means less spending for companies. Besides, cloud computing simplifies interfaces and business processes via mobile technology. With a cloud-based system, you can now access one analytical tool and modernize application maintenance. Hence, these solutions incur cheaper maintenance costs.
  3. Automatic updates: One of the most significant advantages of shifting to a Cloud based payroll software solution is its automatic update feature. With On-premise payroll software, companies have had a hard time adapting their applications as per the company culture. Rigorous source code changes and customizations make it harder for the IT team to stay up-to-date with the releases in order to comply with the technology changes and their legal issues. Cloud software, on the other hand, solves this problem with multi-tenant platforms that enable companies to share a similar application that runs on a single cloud infrastructure.

The Cloud based payroll solution outperforms on-premise payroll software. It leads to sharing of an IT infrastructure, while resulting in lower costs. Maintenance and upgrades can be done effortlessly, and the data can easily be accessed from any place, at any time. Need we say more?

An HR department plays a crucial role when it comes to managing the most valuable asset of a company – the employees. An HR is the go-to department when it comes to recruiting, training, communicating policies, managing a good work environment and many other important functions.

Slowly, the companies are moving towards technological help to automate maximum processes within the company to allow employees to work in a better and more informed fashion. Modern HR solutions are taking all their processes on cloud, and creating a single platform which is accessible to both the employee and employer. This online platform is helping reduce the paper work by providing a solution of filling up forms online and using electronic signatures thus simplifying the entire documentation process. Various top companies in cities like Delhi, Mumbai, Bangalore and Pune in India have already adapted the online Human Resource Management system and have achieved remarkable results with it.

The Online HR solution also helps to improve employee engagement in certain ways:

  1. Recruiting: Hiring is not a just a function of HR, other departments also have a say in this decision making. An online platform helps to keep everyone in the loop and allows companies to use tools to schedule interviews, provide online assessments and reviews of the interviewees
  2. Training: Companies can empower new and existing employees with e-learning. An online training calendar can be used to organize workshops and seminars for upgrading their skills. This platform can also be used for online tests and surveys to help companies understand the employees’ requirement and needs
  3. Building Company Culture: Having a defined company culture is an essential factor for companies. Irrespective of the size of the company, promoting shared values and company culture is a good way to create employee engagement and building a community. An online HR solution, can allow your employees to boost morale and enhance positive environment of the co-workers by nominating them for a job well-done on an employee recognition application. This helps to promote company values while developing a good work-relation among the employees
  4. Payroll: Employees get complete transparency regarding their payroll information. Having access to it on their fingertips allows them to manage their payroll data, view statement history, check their earnings, incentives, significant purchases and many other things. Keeping employees informed with the payroll system also helps to keep them motivated
  5. Time and Attendance: Online scheduling and keeping all data up to date has never been easier. The ability to track time through online HR solution, connected through any device be it desktop, tablet or smartphones, makes it easier for full-time and part-time employees to easily keep track of their working hours. Employees on senior position can calculate budgets based on previously uploaded data, employees can manage their schedules and this information is directly linked with the payroll to make the overall process simplified
  6. Benefits: Making sure all employees have enrolled for the benefits provided by the company can be a very daunting task for HR professionals. A cloud based system makes this easy by allowing the HR department to track employees who have filled in the online forms and who haven’t. Enrolling for these benefits is also made simple for the employees. It also makes it easier for employees to compare the benefit plans, obtain all information about it online and stay updated with the changes to the policies

Secure employee data, available on a single platform, allows the company to review everything at a single glance and thus helps make better business decisions. Also giving the employees an access to this, can keep them informed about everything going on in the company, thus improving employee engagement.

In the process of running a business, the payments of employees play a major role. If the payment system is efficient and free of errors, it not only makes sure that the employees remain happy with the company, but they also tend to give their best to the organization, in turn helping in the growth of the business. This is one of the biggest reasons why it is important to incorporate a payroll management system in the working of a company in the form of a software system. The technology that drives the software helps in ensuring timely and correct payments to the employees. However in choosing the system, one must be careful about the following 5 tips, so that the right purchase is made.

  1. A dedicated professional: When one embarks on investing in the payroll system, it must be checked whether the service provider may be able to help with a product specialist who can professionally customize the software system according to the company needs and train the company team on running the software.
  2. High-end technology: It must be ensured that the software that is created for the payroll purpose is made with high-end software systems and is able to follow the latest trends in storage and application, with the help of cloud technology.
  3. Software linking: In the running of a business, it is important that all the information about the company as well as the employees is linked. This is essentially important for payroll management software, because the calculation of payments depends on a whole lot of other factors.
  4. Customizable system: When one decides to invest in payroll software, the clients generally expect it to work well with the current systems of the business. This implies that the software system should be made adept enough to be able to have it customized as per the needs of the company.
  5. Quick in functioning and easy to use: the software system should be chosen in such a way that the people who are expected to handle it do not find it difficult of confusing in use.

Incorporating technology in regular working of a business is easy, but being able to make it simple yet effective is an art that lies in choosing the right system.

For all businesses it is quite important to increase efficiency of its workforce. In this context, we would like to mention that one of the most time consuming tasks in a company is of salary payment to its employees. But the good thing is that nowadays a payroll management system can take care of all related tasks help you in managing payroll details in a much better way.

Let us now go through some of the features which should be present in any good payroll software.

Automatic Functions:

You need to look for payroll management software which can track employee attendance as well as link it with the system. It should also have the facility of automatic calculation of leaves, tax payments, salaries, bonuses and benefit allowances. The software should also be able to generate tax certificates as well as pay slips.

Expandability:

The software you select should be able to meet the new requirements with growth of the company. It should be based on modules which can be easily added to the system to accommodate increased requirements with growth of the business and as employee figures multiply.

Custom Reporting:

Such payroll management system needs to offer customized reporting which allows you to view details about any particular employee or a specific month with relative ease. You should also be able to view past as well as present pay slips.

Cost Effectiveness:

It should be less expensive as compared to using services of a professional payroll management company. In the long run using such system should become easier, save your time and be manageable so that the company can reap rewards from investing in such type of software.

No Possibility of Mistakes:

You should check whether the software includes required checks as well as validation procedures to make sure there is no possibility of mistakes and wrong information cannot be entered in the system.

HR Functionality:

Good software needs to have HR functionality so that your company can achieve better employee effectiveness. It should allow you to store detailed information about the employees such as their skills, medical history and competencies.

If you are looking for high quality payroll software then we are the best place to buy one from. Using ZingHR software you can easily manage all your requirements with relative ease and bring about considerable cost savings and improve efficiency.

Handing out pay checks or having salaries transferred to employee bank accounts is a routine task that the HR of any company follows. The payments are the amounts that the employees get in return for their efforts and the value addition that they do to the company by means of their work. Giving the employees their fair share and handling the payroll management system with efficiency is an extremely important necessity.

It is because of the employees that companies are able to grow and flourish and reach their goals. The payment system, thus, needs to be an accurate and speedy one. There are a number of ways in which the payroll system may be used apart from calculating the salaries and disbursing them to the employees.

Some important conclusion may be drawn from the working of a payroll software. It is important to understand that the working of the software is never an independent task, the reason for this is that, if it was an independent entity the software may not be able to do more than a simple calculator does, but since the payroll management system is connected to attendance systems and performance management systems of a company, the software gives detailed insights into a whole lot of other working factors.

The number of hours put in by employees, how many leaves were taken and how many days were attended, all this information may be found out with the help of the payroll software. How an employee performs at work, new initiatives leading to business profits and achievements in the job may also be gauged by the amount of incentives and bonuses the payroll system disburses to the employee.

All the aspects of a business and the employees actions are inter-related, this goes to show that one single software that works at easing the payment function of the HR, also helps to a large extent in giving a clear picture about how an employee performs at the job and the regularity or the irregularity of the employee in reporting to work. Making use of a multifaceted software helps in keeping the systems of an organization in sync and all the wings of a business may be taken together to work smoothly and efficiently.

If your professional need calls for a system that is versatile while being precision driven, you need to get your hands on the payroll management system from ZingHR and take your business to new levels of efficiency.

While the obvious and the most visible advantage of using payroll software for an organization is ease of calculations, thereby saving precious man hours, there’s much more to it. In fact, this software will not only increase the productivity and efficiency of the HR department, but it will also help ascertain the efficiency of the people in the company as a whole and make the employees of the organization accountable, thereby increasing the productivity.

Let’s see how:
The software facilitates easy calculation. In fact, the need for human intervention to calculate and interpolate the data is almost zero and thus it reduces human errors and saves time in calculating the staff salary.

It helps tabulate such as annual leave records, leave planning across the department for better staff management and so on.

It also facilitates the accounts department particularly in tax calculations. These packages facilitate statutory deductions, TDS deductions, Form 16 and more. This will also help calculate tax liability of the individual in advance. Thus, it reduces the manual labor of the accounting staff and thereby increases their productivity.

The software has more in store. It is not just assimilation of data rather it translates the employee data into various reports giving you an accurate estimate of efficiency, cost of the employee, and also return per employee. For example: The sales generated by a salesman can be related to his cost to the company to find out his contribution. The software will also help tabulate the most rewarding employee etc.

In addition to aiding crucial decisions through valued MIS reports, the software can also be a critical tool in decision making- for example cost comparison of outsourcing a job vis-à-vis in-house staff and so forth.

Most importantly, the software will help in calculating per employee, per department cost in budget and actual and give a comparative study of budget v/s actuals, both as monthly report and as year to date comparison.

Moreover, the payroll software can help a great deal whenever the organization is planning for expansion to accurately estimate the manpower costs.