Payroll Software India

• In an easy to comprehend fashion, payroll software is a self-regulating system that manages, organizes, and automates the process of managing salary to human resources. 
• Of course, employees are valuable assets to the company and it is a challenging task to satisfy employees. Although, with a fair payment system, it becomes easy and that’s where the payroll system steps in.
• Payroll software empowers management to keep an eye on time, presents, pay structure, and tax information. Moreover, payment software can effortlessly harmonize with the current company's procedures. 
• Payroll software makes an accountant’s job smoother as it tracks every single entered detail of human resources and reduces mistakes caused by human error. So, it works seamlessly with the great advantage which will eventually save your time, manual efforts, and money. 

A list of fully-fledged payroll software must have the following features. 

• Tax management
• Recording files, payslips, report
• Time and attendance tracking
• Benefits and bonus management
• Tack of earning
• Direct deposit
• Compensation administration
• Leave management
• Compliance management
• Expense management

Once you find clarity about things you need in payroll software, then it’s time to match and select as per the required features. Evidently, it is a tedious process and you would not end up with the right solution hassle-free. Here is the short checklist which will assist you completely while selecting the right payroll software in India with relative ease:

• Figure out process loopholes and map out the various purposes 
• Frame the list of preferred specifications
• Scour for a number of vendors who accomplish your payroll process requirements
• Make a shortlist of vendors in a timely manner
• Find out the pros and cons of services to be given 
• Make certain that the given cost or license fee is transparent and away from all the hidden charges
• Ensure that business futuristic demand-flow will be met
• Use the collected strategic data to select the best

• In the era of competition, numerous rivals are vying in the market who have been serving payroll software according to the specific need of the company. Some of the companies purchase as per standard configuration. Still, it is a bit tedious to purchase supreme payroll software. Here are some prerequisites to know while purchasing payroll software: 

Interlinking

• Once your business upsurges, the hectic tasklist soars. Hence , payroll process becomes complex for the management. Here, they need to integrate the application like recruitment, reporting tools, time sheets, leave management with payroll system. Additionally, integration with cloud is necessary for backing up records. 

Reports

• Reports are useful for company to analyse the data and for decision making. The payroll system can be effective for the company when it generates reports whenever the company needs it. 

Human resource management

• When a company expands, one centralized system to manage and record the data is necessary. Hence, the payroll software should be designed in such a way that has capability to monitor accessibility of function by each and every employee of the organization. 

Technology

• Technology is the key factor while purchasing any software. So, there are numerous technologies prevailing in the market for payroll software as well. You need to be sure that chosen software should be in updated technology, easy to access and storage. 

User friendly

• Users always demand for an easy-to-use software and system. Payroll software should be designed in such a way that allows users to enter data or generate the report effortlessly.

Support and customer service

• In the cut-throat competition, it is a blessing for a user to have a customer care unit for solving issues. Hence, one needs to make sure before purchasing a software that the company’s support and customer service satisfy the expectation of users.

Payroll software is useful in different ways like customization, business automation, data centralization. Here’s an overlook of the benefits;

Transparency

• Payroll system configures payroll calculation and deduction quickly. The major factors of dispute like expenses, adjustments, leave management, fair wages can be broken down with the help of the payroll system. Hence, transparency can be maintained and disputes can be settled.  

Automate task

• Payroll system records each and every iota of data. Hence, it automatically generates certain tasks, like the year-end report that will be beneficial for analyzing and decision making process. Additionally, if the payroll is attached to accounting or HR, payroll allows you to acquire customized reports. Hence, the manual work can be easily reduced. 

Minimal financial drain

• Payroll process is practically a time-consuming and error-prone task if done manually. The payroll system, correctly selected and implemented, ends up with reduced expenses which would rather be redirected to accountant or HR. Hence, it allows effective utilization of the company’s financial resources.

Data storage

• Data in the form of payslips and annual reports can be stored easily and need not be worried about with respect to its security as it stores the company’s valuable data in a privatized and easily accessible manner. So, whenever an employee wants to know the progress in his wages or analyze said progress, the payroll system offers it.  

Avoid mistakes

• Mistakes can damage the reputation of a company and sometimes it becomes the cause of company shut-down. Hence, the payroll system is the right key to avoid the mistakes as it records calculation with accuracy. It automatically calculates benefits, tax, expenses, allowances when generating wages and pays employees correctly. 

Quick access to data

• The employees are valuable for any organization. It would do a company well to employ this system to record their employees’ data and the payroll system plays a pivotal role in doing so. The payroll system is hence a vital tool in storing the data of a company’s employee and all the while providing easy access to it at desire.

Data retrieval

• The data of employees one can be easily modified or destroyed when the company has a manual system to record data. The payroll system is, however, less susceptible to tampering and destruction of data due to human error. The backing up of all data to the cloud system makes it easy to recuperate destroyed data.

Here are the supreme easy to use payroll software :

Quandle

• It is one of the future-obsessed, extensive, super-spontaneous and rapid growing companies which aims to automate HR related transaction and administration tasks which empower them to focus more on people. Company renders the services mainly for core HR, payroll, talent and travel & expense. The company is ready to make your daily transaction easy by offering services like user-friendly UI, modular set up, granular configuratibility. This handles entire payroll processes such as payslip, event reminder, time & attendance management, expense management, shift management.

Keka HR payroll platform

• The core theme of the company is to make the lives smooth for others by simplifying complex workflows. The company’s centre of attention lies on HR and payroll functioning in an integrated manner which wholly removes the usage of conventional HR and payroll management methods. The focal points to offer are an employee self service portal, biometric attendance management, employees document management, salary information and appraisal history. 

Spine HR and payroll

• The software is quite user-friendly which enables users to have steady service. Company records all the valuable data of employees regarding leave, pay grade, payslips and many more. That helps to generate reports and you can retrieve it at your desire. The key features of software are ad hoc analysis, recruitment management, analytics and advance MIS report, online test and psychometrics test. The system is tailored in a way that is connected to the same system, roles and responsibilities can be easily assigned and some of the function rights can be shared. Additionally, data access restriction can be made on the basis of location..

Greyt HR

• In the upgraded market, greytHR is highly advanced HR and Payroll software in India. It sanctions exceptionally swift and accurate results which reduces work to smoothen the work. The company has secured lakhs of employees data and can manage the end number of employees on a daily basis which shows that it is quite handy software. It has integrated with other areas too like salary process management, human resource management with an advanced customer care service. 

Wallet HR

• In the sector of the SMEs, Wallet HR has been offering services with economical prices. It is the software that has the attribute to record and analyze all the data of the employees right from the recruitment to retirement. The aim is to deliver service  with greater efficiency, accuracy, simplifies operation and increases productivity of employees. The attributes of the software can be framed to suit any firm. 

Uknowva HRMS

• The software is designed in such a way which carries all the modules associated with HR and payroll management. It is basically a cloud based as well as mobile accessible business software that helps to increase productivity and efficiency as it uses non-conventional work methods. This is highly designed for startups and SMEs with customization. 

HR Mangtaa

• It is a leading company which is providing an employee life cycle way out from entry to exit process to manage all the HR process eventually helps to boost the proficiency of the venture. The software has all the attributes right from hire to retire solution with easy on pocket and offers as per desires. The software is ideally designed for small, medium,and large scale businesses that improvised the services and all the functions of HR are integrated hence, accurate data can come out and reports can be generated whenever needed.

Bamboo HR

• Bamboo HR function is designed for managing the tasks of HR in which it handles core responsibilities of HR like attendance management, time-off request, workforce training and certification although it would be performed by an HR person manually. This has made it easy for HR to keep an eye on each and every worker working in an organization. Eventually it results in increased efficiency and productivity.

Farsight HCM engine 

• One of the tedious tasks that prevail in any organization is to select the right employee for the designed post and more to that finding right software to manage and record that data is another. To perform multiple tasks and manage all the employees data is quite time and effort consuming work. Hence, this software can be beneficial in both ways first to track records and to get reports for analysis of employees' work life cycle. 

ADP vista HCM

• It is software which contains exceptionally isolated features to perform analytical tasks. It has tailored in such a way that could be fitted in all the types of business. The HR functions are also integrated that simplifies the job responsibilities of HR personnel.  

HRAPP

• It is one of India's first AI capability and machine learning HR and payroll software that manages HR and finance related all the transactions and records of employees offers a 14 days trial period. To satisfy its customer, they propose highly configurable functions and has been spending constant efforts to enhance product of efficiency

Sum HR

• Designed to suit for any type of industry with advanced features and highly improvised standard services. It works as a bridge between HR managers and employees so that doubts can be solved and efficiency can be increased as it works in a better improvised way with less paperwork. 

To summarise, drawing an inference, and finding an appropriate and desired software as per business type is not a trouble-free task. Managing finances and distribution of the company’s resources is a time and effort-draining endeavour. The payroll system  software thus strives to make the process easier and aid a company allocate its assets in a fair and a hassle-free manner all the while devoid of all the complications that tag along with other such softwares in the market.

1. Reasons why Startups should automate their payroll process
2. Payroll trends to watch out in 2020
3. Top Free Payroll Softwares to Look For
4. Save your money with the use of payroll software
5. Leveraging Payroll Software for Any Company Size