Managing employee payroll has been one of the most complex tasks for any business. It encompasses a wide range of activities to be undertaken quickly and accurately. To begin with, if an organization is processing its payroll manually through conventional methods, the process becomes very slow and inaccurate. But if the process is automated with the help of payroll management software, the benefits will be manifold, like timely processing and better, accurate results. A payroll management software system is comprehensive and easily adaptable.

Choose ZingHR Payroll Cockpit: The One Stop Solution For Digital Payroll & Compliances

For companies that spend laborious hours to get attendance updates from multi-location teams through emails and follow up calls, and yet are not happy with the accuracy, it is time to take that into history. ZingHR’s Payroll Cockpit platform is transforming businesses, while enabling a compelling digital experience for employees. It is the platform you need to process your payroll on time, while you meet all your legal compliances, every time.

The payroll cockpit is intuitively designed to carry out multiple functions with a dashboard. Since it gives you a comprehensive payroll processing view, it’s time to simplify payroll processing get mundane tasks out of the way. Hence, for the best digital payroll processing and compliance on the go, choose ZingHR Payroll Cockpit.

5 Exclusive Advantages Of Using ZingHR Payroll Cockpit:

a) Extremely quick and intuitive processing system –

ZingHR payroll cockpit is an intelligent platform that can carry out complex processes with ease and deliver accurate results. View all the major and important activities to process payroll on the cockpit screen.

b) Salary repository –

It is important to archive all your employees’ salary slips for future retrieval. Now you don’t have to photocopy slips and place them in a manual file. ZingHR’s payroll management software has a salary repository section for storing salary slips. Therefore, receive the salary slip historical database, cumulative pay slip summary, graphical pay slip (monthly), Form 16 etc.

c) Flexi pay-out configuration –

This feature allows accurate processing of appropriate pay components. For instance, overtime is automatically computed and paid out based on the preferred style: extra shift allowance, special allowance, overtime allowance. While it all depends on how your HR personnel deems fit.

d) Multiple-Pay Head Group Configurator – 

This feature enables the software user to define several pay groups according to their organizational units so as to make several pay heads. Organizations need this to come up with a brilliant pay structure. Additionally, the feature makes employees’ grades for compensation management easier and streamlines the processing of employees’ claims for CTC reimbursements.

e) Easy investment declaration by employees – 

The investment declaration feature supports your employees’ tax planning activities. It lets them declare their investments directly online and assess the tax impact.

To summarize, the Payroll Cockpit has other wonderful features, including History Records, Helpdesk Support Functionality, EID Tracker, Maker Checker and Statutory Compliance Setup and Support among others.

The Payroll Management system is fundamental accounting in any company as its deal with key financial aspect of the company. Payroll system basically deals with management of employees’ salaries, compensation, deductions and etc. Although Payroll is traditionally an accounting job but with the advent of software tools these tedious manual jobs are made easy and accurate.

The complete employee database is maintained in the Payroll Management system, gives instant, full and accurate information of any employee. The use of good Payroll software not only saves a lot of time to do the calculations for payments but also Money spend on that manual labor. Here are some of the uses of payroll software which reduces Time and Money.

  • Faster processing of Payrolls: Payroll is repetitive process in any organization. Hence, this repetitive process can be automated such that with minimal entries like leaves, deductions at source and etc., the monthly pay-slips are generated.
  • Error free processing: Manual processing of payrolls would normally take more than a week even done accurately. Since, manual calculations are error prone, taking into effect the errors and labor hours to process the payrolls every month, it is sensible to buy a software to do payroll management than to leave it at the mercy of manual labor.
  • Reduction in training: Payroll management is a very complex and risky accounting procedure, the staff needs to be high-skilled. For this, any company needs to invest heavily to be competent to carry out manual payroll management. Instead, one or few qualified personnel are required to manage whole company’s payroll using software.
  • Safety and security of data: The data generated in software will be safe over conventional data stored in Microsoft Excel, which are prone to corrupt at any time. The software ensures data security and data theft. Periodical backup will be taken and stored properly. Again, this saves a lot of time and money to regenerate data if lost.
  • Analysis of data: The data once entered in the software is stored permanently. All data can be retrieved and analyzed at any point of time of any employee. This cannot be achieved during manual processing and storage payroll system.

In light of the above benefits, it is advised to switch to software payroll management system that not only saves a lot of Time and money but is also hassle free and easily manageable. The company should consider above qualifications before buying any payroll software.

The primary aim all businesses have is of improving efficiency achieved by their workforce. As such it is important to streamline the activities like those connected with salary payment since it is one of the main time consuming activities company’s need to take care of. In such scenario businesses need to utilize payroll management system which can easily manage all the payroll related task in a completely efficient way.

In the following sections let us look at the benefits of utilizing such a system for your business.

What are the benefits of using payroll management system?

Advantage of Automatic Functionality:

These systems are able to monitor attendance for employees and also link such attendance data with the payroll system. Such payroll system can also automatically calculate leaves, salaries, payment of taxes as well as benefit allowances. Some of the other tasks these systems can perform include generation of pay slips and tax certificates.

 

  1. Possibility of Expanding the System:

Another good thing about these systems used for payroll management is that you can expand their functionality in case new requirements arise.

These systems have modules that can be added as needed and help to meet changes in requirement with increase in number of employees working for the company.

  1. Facility of Customized Reporting:

You can also make use of customized reporting along with facility of viewing details related to any worker or for all employees for a particular month. These systems also allow you to analyze present and also past pay slips made for employees.

  1. Cost Effective Solution:

If you do an analysis you will find that using such software is a lot more cost effective solution in comparison to hiring a company to take care of the task of managing your company’s payroll.

Overtime such software would turn out to be a lot easier system than manual operations, save your precious time and improve management’s efficiency.

  1. Zero Errors:

The best thing about such automation systems is that these have validation system and checks to ensure that mistakes do not occur.

In addition to it, operators cannot enter wrong information even by mistake so there is least probability of errors occurring in payroll management.

Employee payments and salaries play a major role in the working of a successful organization. The biggest reason for this is that the compensation that employees are paid for the work they do, works as a major motivation for them to do better in the job.

When the payments and salaries are managed efficiently, it may be ensured that the working of the company is kept smooth and efficient. This implies that an effective, fact and error free method of salary computation and disbursement should be integrated in the working system. The payroll management system can be implemented best with the help of software systems so that the work is done in a progressive manner. There is a great amount of significance in the use of such systems for companies, which compels more and more companies to join the league of those who rely on software systems for carrying out such tasks.

One of the biggest significances of the system is that the following of government rules and guidelines in the computation of taxes to be deducted from salaries becomes an easy task and the company do not land into legal issues because of lack of efficiency in tax calculation. It is also possible to keep a tab on the information of the employees who work for the company with the help of the software system; this goes a long way in helping companies in knowing their employees in a better manner.

With the use of payroll management, it is also made sure that the compensation or payment of dues to salaried employees is done on time and no mistakes are made in the calculation process. The system proves to be not only efficient in working, but also makes sure that it is easy for the HR teams or employers to use. The biggest advantage of the system is that it helps in cutting down on the time that is usually required in the calculation and disbursement of salaries. Saving time helps in ensuring that the productivity of the business is increased and the efforts of the staff are put in the right direction. Knowing the significance and the advantages of software systems in payroll disbursement and management help in a lot more ways than one can imagine.