HR is one of the essential components of enterprising; as upon the employees depend on the production and hence profit potential. The employees need to be compensated through remuneration and perks and this is a continuous regular exercise in any business entity. Payroll departments exist to take care of these tasks without fail and in a cleaner way so that there are no delays, hassles or vagueness. The last few decades saw smart interventions in the form of payroll system software that allows programmed automation of the salary payouts, leave benefits and other entitlements for the employees. Thus to one wondering as ‘what is payroll system’, the explanation goes on to include all the formal and authentic record keeping that defines the individual employee’s service cost as a right over a definite period of time.
Payroll software as attendance management systems -
Development of payroll software in India and the world is led by specialized firms that bear professional competence in this niche. They are producing custom tailored software suites for the business clients that ride on the automation functions of relevance to their operational portfolios and HR bases.
While automated payroll software suites have been in use of long in business houses, lately, there emerged dedicated orientations to address the new demands; many of which were driven by the tech paradigms such as electronic attendance through biometrics or smart cards! Companies are now using integrated payroll systems that interface seamlessly with the employee’s daily punch ins into the office/enterprise and behave as attendance management system also. This arrangement can be called as the beginning of a new era wherein the machine managed attendance is read dynamically by the HR and payroll software which then calculates the compensation accordingly. The human interference has been thus hugely reduced; if not eliminated altogether. Not only this, but there are other advantages also when a payroll software finds active real-time integration with the attendance management desk within an enterprise.
The key benefits of using a payroll system for attendance –
- Real-time management of attendance
Attendance needs to be fed as the core input for the purpose of determining the salary for a given time period of service rendered by the employee. When this input is dynamically fed into the payroll software, the management of salary desk becomes simplified and can be undertaken in real time. For the same reason, such types of payroll system have found maximum demand in the business niches around the world.
- Programmable automation at will!
The HR managers can program the automation as per requirement by manipulating the key functions that underpin the payroll system software. In this manner, the desirable type and level of automation can be achieved anytime. This also points to the flexibility that is available all the time with the HR department that can tinker with the slabs of salary upon orders received by the top echelons in the company.
- Elimination of discrepancy
With the attendance being noted and managed electronically through smart functionalities, the avenues for discrepancies are eliminated. The biometric readers transmit the attendance information in real time to the payroll software where it is recorded for the purpose of salary determination.
- Time-saving for the purpose of payouts
It is obvious that such an automated payroll and attendance management system saves much time for the managers handling the HR desks in the company. This also means that the salary calculation and payouts could be processed in the least of time and with much ease; as compared to the earlier manual computing and thorough recordkeeping.
- Cost cutting
The cost burden for the enterprise is reduced because there is no need to maintain an additional workforce to manage the attendance feeding task in the payroll department. The cost so saved generates internal economy and fiscal benefit for the enterprise owner who can invest the same for growth opportunities.
- A dynamic and ready database always available
The data regarding attendance, as received through the biometric interface is continuously read by the payroll system that stores it in its database for the purpose of salary determination. This database is dynamic and can be tapped in case of any individual or group of employees in the organization. Such a database is also helpful as a metrics tool for deriving leads and inferences towards finding the existing attrition rate or hiring trends or other broader/finer policy results.
- No scope for errors
With human interference getting reduced, the scope for errors also stands negated. This causes speedier processing of the payouts and claims and entitlements in favor of the employees. The discrepant cases getting reduced cut down the time loss and cost for the employer.
- A transparent mechanism
An electronic payroll and attendance management system that is run by smart functions of automation is highly transparent also. The leading firm offering payroll software in Delhi and NCR provides inbuilt and secure linking of the attendance and salary metrics with the individual employee’s account online or through the intranet. This system keeps the employee informed always.
Such automated payroll software in India and the world over have found other novel applications also. It is being used as school attendance management system too; with the difference being that employees are replaced by the students and there is no dimension of payouts (although credits could be awarded for high attendance rankers).
Integrated payroll and attendance management software suites have thus found universal demand in the social economy as these ensure efficiencies in the HR departments while also cutting down the costs and offering the much desired time-saving.
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