All About HRMS Software

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. 

Easy, Safe, and Reliable – HRMS Software

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.