The world changed in the year 2020. We are not prophets and cannot figure out whether the changes that happened last year were for better or worse. But one thing that we surely know is that this change is irreversible and we will never go back to exactly where we came from. With all the events that took place over the last 12 months, some events in particular significantly changed how we work and carry out routine processes– now and forever.
If the payroll management process is considered, it was also acutely transformed amid this global pandemic. The majority of Indian companies left every traditional tool/method behind and shifted to automated software tools. Without any doubt, automated payroll management systems became popular after the outbreak of coronavirus. When HRs, employers, and employees faced a host of challenges in the WFH setup, they had no choice but to rely on payroll systems. Talking about such systems, they help businesses to streamline and optimize their payroll processes.
Here are some of the ways payroll management software helped companies in 2020. Let’s dive into the blog.
It Saved Time For HR Managers
As mentioned above, remote working came with a set of unique problems for HR professionals. One of which was managing and processing payroll. Taking this into consideration, a good number of companies invested in the best payroll software India has. Such systems aided HRs to automate the payroll process in just a few clicks. Unlike outdated tools, payroll systems carried out this routine task without any human intervention. As a result, HR professionals saved a large chunk of time that in turn helped them to concentrate on their employees and other vital areas of their business. Simply put, a payroll management system not just saves time for HR executives but also boosts their productivity to a greater extent.
It Eliminated Human errors
Since WFH was full of hassles and uncertainties, every working individual experienced a sudden increase in their psychological and emotional stress. Needless to say, heightening stress and anxiety levels often contribute to human errors. To avoid costly errors during a crisis, HR managers got help from payroll software in India. As we all know, payroll software is completely automated, it takes care of the entire payroll process on its own. Using the right system, HRs can be tension free about unintentional mistakes in payroll.
It Improved Compliance Issues
Work from home or office, complying with statutory requirements is vital for every company in India. From PF calculation to gratuity calculation formula, an HR should know about everything. But, amid managing a lot of operations, HR managers often found it difficult to keep up with the new laws and regulations during remote working.
Fortunately, payroll software solved this problem for HRs well. Since such software offers an automated alert feature, it sent timely notifications to the HR department and kept them updated on every new amendment and legal requirement. This way, companies avoided both non-compliance and its hefty consequences.
It Was Simple to Integrate
It is crucial to allow systems to talk to each other. Say, for example, attendance and payroll management go hand in hand to calculate the accurate salaries of every employee. Now, payroll management systems provided companies with the easiest integration that allowed HR professionals to easily manage several processes.
These are some of the top ways payroll software simplified the payroll management process for HRs in WFH.
In essence, the virus expanded the strength of automated payroll software India has and it would be foolish to not recognize 2020 as the year that changed the payroll process completely.