Even the small enterprises are looking to cut their time and money spent on processing payroll, and looking for HRMS Software. It helps them automate various reparative HR processes and provides them with the right information to help make better decisions related to HR.
Good HR Software provides more time to HR and payroll managers allowing them to focus on developing the business. Some of the most noticeable qualities of HR and Payroll Software are performance management, absence tracking, succession planning, applicant tracking, carrier connectivity, government compliances, maintaining illness and injury, workflow automation, advanced reporting, job and pay, and payroll interface, self-service, and analytics. The software reduces the time of preparing timesheets for payroll and provides you with the most effective HR solutions.
Different Types of HRMS Software
There are various HR technology types, but the most popular focus is more on staffing, employee development and engagement, onboarding, compensation, and workforce management.
- Staffing
This feature includes workforce planning along with employee scheduling, employee lifecycle, time tracking, leave management, and talent acquisition.
- Onboarding
It includes onboarding and off-boarding. Onboarding software tools help guide new hires along with software login creation, social introductions, and many other responsibilities.
- Development
It is about helping the employees grow and keeping them satisfied. HRMS Software also includes an employee satisfaction module, performance management, and talent management applications.
- Compensation
This includes administration, benefits management, and payroll. Compensation self-service is most useful for employees as they are allowed to check their health benefits and PTO metrics.
- Workforce Management
It includes management systems and human resource information systems (HRIS), employee records, human capital management, and employee recording and monitoring.
Functionalities of HR and Payroll Software
Payroll activities that include human intervention and require massive paperwork are out of style. Now, automation with the help of HR software is what the companies are looking at. Payroll systems have become easier and cheaper, with more user control and easy-to-make changes tools. Some of the salient features of the software are:
- Integrated Payrolling: The software offers an integrated payroll system with easy-to-manage tools for employee time and attendance data. You can generate salary sheets by clicking a single button generator tool in seconds.
- Flexible Benefit Plan: This function help categorize creating an option for the employees who choose organization-approved benefits and want to claim reimbursements.
- Manage Taxes: HRMS Software allows employees to make their tax declarations to help maximize tax deductions and payments accordingly.
- One-click Final Settlement: In case when an employee wants to leave an organization, a one-click settlement can process comprehensive final settlements in one go, and can also maintain track of the relieved employees.
- Can Generate Various Statutory Receipts: A good HR Software is designed to generate PF electronic challan cum return (ECR), Professional Tax (PT), ESI statements, payslips, and can even auto-calculate all monthly deductions.
- Role-Based Access: The software allows you to create role-based logins in the payroll system. An individual can view the crucial data while keeping other sensitive information private.
- Reports: You can also get detailed reports for each employee’s attendance, along with leaves, and income tax reports. You can also choose from various in-built templates to help generate various reports and forms.
- Employee Self-Service: HR and Payroll Software is designed to let the employees manage critical information effectively. They have full personal control of their tax declarations, loan requests, and other similar activities.
Conclusion
HR software allows the freedom to access from anywhere, anytime, and from any device. While evaluating a software solution like Opportune HR, it is advisable to keep a close watch on the most critical features. Moreover, consider a user-friendly interface so that you perform your HR jobs easily.