Every function within an organization has a sequence of tasks that must be completed, as they serve as inputs for subsequent functions. Some functions initiate a cascade of tasks for other functions. Take recruitment, for instance, which triggers the generation of employee official and personal data. This data then serves as input for various systems such as the best HR software for payroll or attendance, security systems, accounting systems, and benefits programs. Once this input data is transferred to each respective system, it becomes the basis for numerous sub-functions within their own programs, including payroll services offered by payroll software companies.
Get Clarity on Your Business Requirements
While looking for payroll management software, be aware that the sensitive and personal data of employees should be managed effectively. Ensure that only relevant data moves to the right sub-function for a specific purpose and it is being correctly used by authorised personnel.
Payroll practitioners and those who render payroll services must ask themselves some critical questions: What type of data is required by payroll? From whom should we receive it? When should the data be available to us? How do we receive it and in what particular format? What outputs are expected from us? What are our internal processes and turn-around time for outputs? Who are our stakeholders?
Once we have answers to all of the above, we get a clear vision as to what is expected of us and what procedures are needed to execute it.
Ascertain the Best Payroll Management Software
Detailed Standard Operating Software
Prepare a detailed SOP which will be a documental foundation for all payroll procedures and will define roles & responsibilities, segregation of duties, approval matrix, formats for input / output, etc. Based on the SOP, look for the payroll management software which can perform all of the requirements.
Value Added Features
While most payroll system software will perform some basic functionalities such as pay computations, statutory compliances and report generation, we must look for such softwares that will provide more value-added features.
Here are some tips:
- A cloud-based software can be accessed from anywhere and at any time. The features should be flexible and customisable to cater to the constant changes in statutory or perhaps even company rules.
- Sub-functions within each module should be automated in such a way that input / output data flows from upstream or downstream systems seamlessly. Helpful features such as checklists, validation reports, pop-up warning messages for any data errors or for any matrix violations, etc will help in risk control.
- Employee /Manager (ESS/MSS) self-service portals help employees, their respective managers and payroll team in managing a whole lot of information and data flow – attendance & leave updates, reimbursement or allowance claims, proof of investment submission, internal approvals, benefit claims, communication, payslip distribution, employee profile/personal data updation, etc.
- File transfer protocols (FTP) facility that link up accounting software, banking systems as well as government portals for statutory filings, in order for relevant data to be shared with the respective stakeholders.
- Data security strength in terms of back up, business continuity procedures or disaster recovery plans, access controls, password protection, etc
How to Take the Final Decision?
A good payroll management software must be able to manage most of the documented procedures as mentioned in the SOP, must be robust and flexible, reasonably priced and should provide good support and guidance. Use the above mentioned tips to find the best payroll software.
As one of the most popular HR & Payroll softwares, greytHR provides the very solution that you are looking for. greytHR is built specially for small and medium businesses.
