What is Payroll Software?
Payroll software programs are applications that handle the payroll process for any business. Effective applications will manage all facets of the payroll process by tracking all payments and maintaining all employee records, such as tax information and pay structure. These applications usually integrate easily into a company’s existing procedures, making the payroll process more streamlined.
What features should organizations look for in payroll software?
Payroll can be complex, both for organizations and employees. It’s therefore essential that payroll software be easy to use, with a simple, consistent, and secure interface accessible by employees and payroll staff from a variety of devices.
Payroll administrators should be able to configure the system without coding or calling for help from IT professionals. The software should have best practices and recommended formulas built-in, guiding non-technical staff through a few simple steps to configure the system according to the specific needs of the business.
What are the Benefits of Payroll Software?
Minimize Human Error
Payroll management software limits the amount of information that must be manually entered during the payroll process. Data entry often leads to human error during the manual entry process, and applications created to handle the payroll process provide a single, centralized place for employee data to be stored and viewed. This means the data only needs to be entered once, decreasing the odds of human error taking place.
Can be linked with Biomatrix system
You can link payroll to timesheet systems that record employee attendance or time worked. This allows you to automatically transfer information about hours worked into the payroll system and make payroll calculations much simpler.
Streamline Onboarding
HR often has a lot on their plate, and payroll management applications will lessen the load on HR by streamlining the onboarding process. This piece of Human Resources software usually offers several self-service options for new employees to upload their documents to the system, removing a large chunk of work for HR departments and allowing these departments to run more efficiently. These self-service options also make documents immediately available for the payroll process. If a company’s software is cloud-based, employees all over the world can upload these documents using self-service portals.
Data Security
Cloud-based payroll systems provide a high level of security, another critical factor for compliance. While manual processes may contain errors, such as an employee who remains on the payroll after the employee leaves the organization, the automation of payroll systems helps prevent and identify errors. Rule-based and role-based validation can further enhance security by limiting access to sensitive information.
Numerah HRMS provides convenience in managing employees, minimizing errors and streamlining the onboarding process with high level of security.
Go ahead and get your hands on Numerah HRMS and watch your business prosper!