Hello, in this post we will discuss the benefits of Payroll software. Payroll software offers many advantages to carry out your pay run with greater speed and efficiency.
We will cover the topics in this post:
What is Payroll software?
Payroll software is an accurate solution that meets your requirements and simplifies the payroll processing for your business. It automates all your payroll processes. Also, a good payroll system can help you carry out all your calculations with greater speed, efficiency, and confidence.
Different types of payroll software
There are two types of Payroll software:
- Desktop Payroll software – It is installed on your desktop. You can access it on one computer and the data is stored on your local device. Internet connection is needed only when you update the software or file your statutory returns.
- Cloud Payroll Software – It is stored in the cloud. You need to log in with the login credentials in the web browser i.e., Chrome or Mozilla Firefox. You can access it from anywhere, anytime.
More on the difference between Desktop and Cloud Payroll Software
Benefits of Payroll software
- Cost-Effective
- Saves time
- Generate Payslips
- Ease of use
- Added data security
- Reduce errors
- Increase Efficiency and Productivity
Let us see each of them in detail:
1. Cost-Effective
Payroll software is cost-effective as you can add employees, generate n-number of payslips, file your statutory returns, and many more things in one simplified software. It is also a cost-efficient option that does not require any professional service.
2. Saves time
It is like a magic trick. One-time settings set up the software based on your requirements. Once that is done, you can perform different payroll tasks with minimal time. Not only will payroll software makes your task easy, it also saves a lot of your time.
3. Generate Payslip
Payroll software allows you to generate payslips quickly and in an easy way for your employees. It provides different templates which can be customized according to your requirement.
4. Ease of use
Payroll software is easy in the sense that you will not have to maintain data in multiple files. With payroll software, you can have data that is in sync with attendance, leave, reimbursement, TDS, etc so that the whole process is much easier.
5. Added Data Security
The security of your data is very important and mainly your payroll data is very sensitive. The main benefit of payroll software is the employees’ data security. With a good payroll system, you can ensure that the information is secure and cannot be accessed by anyone outside the organization.
6. Reduce errors
People often tend to make mistakes when you manage payroll processes manually. But with good payroll software, it is difficult to make such mistakes since most of the process will be automated.
7. Increase the efficiency and productivity
With the automation of tasks set up, you can focus your time on more productive work and thus increasing your efficiency.
8. Link with multiple branch
With a single login, you can connect with multiple branches and can control employee details of all branches.
9. Track employee activities
Through the ESS (Employee Self-Service) portal, you can track all activities of employees and employees can also track all details of their own, such as attendance, leave, pay slips, and other data.
FAQ
What to look for in payroll software?
Following are the features that you need to look for in payroll software –
- The system should be automated.
- Able to generate payslips in bulk and automatically
- You should be able to file tax returns through the software
- It should have an ESS portal that gives employees access to their entire data.
- Access to data via mobile
- Data security and end-to-end encryption.
Since you have read the post so far, give us a moment to introduce you to Saral PayPack, our complete payroll software which covers all your requirement from punch to payslip.
Saral PayPack is available in both Desktop and Cloud versions. For both, we provide to with an implementer who will ensure all your requirements are met and also gives you training on the product.
To know more about Saral PayPack, visit the links below.
Join our exclusive Saral PayPack Insights WhatsApp Group for HRs and Payroll Professionals to stay ahead in the ever-evolving trends.
Get timely reminders, regular updates and insights into various aspects of payroll & HR operations as well as a sneak-peak into our Payroll software which is trusted by 5000+ professionals.
Scan the QR code or visit the link:
4 Comments
Very nice content. Thanks for sharing the valuable article worth reading it.
Thank you for reading and commenting. We are glad this blog was useful to you.
Salaries slip
Very well information for HR & employees, thank for sharing this. Recently payroll has taken an important in almost all practical taxation work. I read your all post that gives very useful information.