HRMS software is a solution that simplifies and takes care of a company’s payroll processing and other Human Resources related matters. It allows you to work more efficiently and effortlessly so that you can focus more on your core job.
As a business organization, it is critical to pay your employees accurately and on time. HR and payroll software is engineered with a commitment to simplifying all HR-related matters. Payroll is complex and monotonous as it requires long calculations each month. But with HR software, you can manage your employees’ compensation and pay them timely with much ease. From navigating diverse tax codes to configuring a company’s own payroll models, this software makes everything look at ease.
Basic Advantages of HR and Payroll Software
When you decide to implement HRMS software in your organization, you can reap the following benefits:
- Easy Maintenance of Faculty Records: With HRMS Software the HR department can keep a tab of the personal details, including qualifications and certifications of their employees. There is no further need of keeping a paper record which is more time-consuming and requires space.
- End-to-End Payroll Processing Procedure: The software can streamline the overall payroll process on its own and helps minimize the workload of the HR team.
- Fast Salary Calculations: It ensures quick and accurate salary calculations with fast payouts. The software works in synchronization with the management, offering automatic salary calculations and paying the employees directly into their bank accounts.
- Following Indian Payroll Laws: HR software is designed keeping in mind all Indian payroll laws. The payroll system works in compliance with payroll laws as stated by the Indian Government.
- Better Data Security: The software can also define the user’s role and can provide role-based access for enhanced data security.
- Insightful Reports: It can also provide insightful payroll and employee-related reports including employee performance. These reports come as handy when calculating annual bonuses and for other organizational purposes.
Advantages of HRMS Software
A good HR software from Opportune HR offers the following advantages to an organization:
- Effortless Payroll Processing
- Intuitive HR Management
- Easy Compliance and Reporting
- Automated Time Management Procedures
- Easy Employee Expense Claims and Status of the Submission
- Online Salary Credits
- Attendance Solution Integrated with Bio-metric and GPS
In addition, you can also manage the following with the help of HRMS software.
Leave Management: The software provides a flexible approach to customizing different leave types and helps set complex leave policies for an organization.
Shift Management: Flexible to customize shift policies, the software optimizes various work schedules and also avoids scheduling conflicts for your employees.
Salary Information: It can automatically fill all salary details like allowances, deductions, payment mode, commissions, bonuses, and other critical details required.
IT Declaration: It can handle employees’ IT savings and investments. Thus it can automatically calculate the Income Tax based on employee investments and deductions.
Reporting: It can provide various reports to understand employee information, payroll tax liabilities, and much more. Reports share a wealth of information and are critical while calculating annual bonuses or during promotions.
Outsourcing Services: The software offers end-to-end payroll compliances, expenses, reimbursements, and error-free salary calculations, along with managing employees’ onboarding to exit functions.
Conclusion
HRMS Software is available in the market at different price levels with different levels of functionalities. No matter the size of a company, HR software is a need of every organization. You are required to calculate your current need and understand the flexibility to grow and expand the organization’s future needs. Consider Opportune HR, the new age one-click payroll solution, as it can manage all your payroll-related activities accurately and timely.