| In most large and medium organizations payroll is an | | | | on costs and become paperless, salary |
| essential monthly activity, which is fairly routine in | | | | reimbursements can be a good example. Instead of |
| nature. Depending on the size and nature of the | | | | issuing ‘hard copy’ pay slips today companies |
| organization, this activity can be fraught with | | | | issue pay slips via email which helps on saving printing |
| complexities related to calculations, deductions and | | | | and distribution costs. Alternatively pay slips can be |
| statutory regulations. | | | | uploaded on the intranet via a ‘Personnel |
| Keeping payroll software in-house is more practical | | | | Information Portal’ |
| than outsourcing the task. Doing so offers a high level | | | | Another area of human resource management that |
| of flexibility, affording businesses the ability to make | | | | can be error prone is leave calculations of employees. |
| changes with relative ease and to keep records | | | | Keeping track of leaves taken, necessary approvals |
| maintained according to their unique needs. Even tasks | | | | and the nature of leaves (casual or sick) can be a |
| such as reimbursement of expenses to employees | | | | tedious task. Leave module in payroll software allows |
| may be easier when payroll software is used. Payroll | | | | the user to define various types of leaves that the |
| software enables companies to compute: | | | | employee is entitled to and set different leave |
| - Salaries including statutory computation of PF and | | | | parameters for different categories of employees. |
| ESI | | | | 1. |
| - Income Tax & maintain record of Investments | | | | SME and SMB’s in India has always looked for a |
| - Reimbursements as per CTC norms | | | | stable payroll software which should work seamlessly |
| - Keep track of Employee Leave taken and Loans | | | | in Indian corporate environment. If we look at various |
| availed | | | | payroll software vendors in India they look like more |
| - Maintain correspondence with employees in respect | | | | appropriate for overseas companies rather than for |
| of Letters and E-mail | | | | Indian environment. |
| Payroll software can be used to standardize the way | | | | Even if they talk about customization as per client |
| a company handles the calculation and processing of | | | | requirements, it overshoots the budget of SME and |
| its payroll. Payroll software can be utilized not only to | | | | SMB’s most of the time. Sage Software India a |
| calculate money due to employees, but also to provide | | | | subsidiary of Sage Group UK has launched their |
| for easy management of employee information and | | | | Payroll software “Sage Pocket” which has |
| accuracy of employee data. Essentially, payroll | | | | been developed according to Indian Environment. We |
| software can help to streamline the entire process, | | | | can get more details on their website |
| making the task of processing payroll less | | | | In future we might see a lot of action from various |
| time-consuming and error free | | | | software companies in this segment. Though few |
| Payroll calculations relating to salaries, taxes, | | | | companies has bundled payroll software with their |
| reimbursements and leaves can be completed in a | | | | ERP and CRM solution, still pricing is the Key issue for |
| fraction much faster than doing it manually. | | | | SME and SMB’s in India, which these companies |
| Also a good payroll solution assists companies to save | | | | need to answer. |