Elusive Reasons For Automating The HR Payroll Management

Do you know what the great strategy for any business is? To save money wherever possible and maximize profits. And one of the ways to do so is to automate your system. One of such critical and important area where automation can be done is the HR Payroll Management. We all know the importance of payroll management in an organization who has employees; it is the heart of the business and the most time-consuming process too. A minor mistake in the payroll processing yields too many hours of re-work, but thanks to IT advancement, that has solved the problem of processing of payrolls manually.

The payroll data of any organization is very vital and its integrity needs to be maintained in the trusted hands which can be possible within the organization only. So, investing in the HR payroll software automation is the best option to go for.

HR payroll software is a cost-effective solution for any business entity as manually managing the payroll is not only time-consuming but overbearing too. The window of error is always open when this activity is done manually. When the organization is not so big, in that scenario payroll team and HR are not only understaffed but over-burdened too, this leads more in-efficiency. Not having adequate automated software in place always put organizations at different risk.

Reasons – Why You Should Get HR Payroll Software?

 There are many reasons to support to have HR Payroll Software in place in any organization like decreased labor cost, saving time, and increased efficiency & accuracy. Lets’ understand and see in detail the benefits of getting the automated HR Payroll Software,

  1. Compliance is assured – All organizations are bounded to certain laws and regulations and in turn their processes too. The same applies to the payroll systems as well. As this is one of the complex processes where financial restrictions are stricter and no deviation can be expected like complying to financial regulations such as the Sarbanes-Oxley Act of 2003 is now being followed by all organization. So keeping the systems up-to-date and implementing the new set of rules and regulations becomes much easy with the automated HR payroll software system. And as all other systems are interconnected to each other like workforce management software and employee management software to the payroll system, then adjusting the changes at one location or on the master data can get easily replicated on others.
  1. Increased Benefit of Self-Service – If you have the Employee Management Software, many things for which employee runs after the HR person can be done by themselves and hence can easily get updated or reflected in the payroll data as well like the change in the bank account, addition or updating nominee, adding tax details, etc. 
  1. Increased Efficiency – Investing automated HR payroll software not only allow you to accurately manage your payroll process with accuracy, no errors, less staff hours, and fast turn-around time but at the same time also allow your payroll staff and HR people to get engaged in other much productive activities, where they can planning and work on improving the skills of the employees basis the data received from workforce management software.

Ascent Payroll Software Is For The All Round Benefit Of Your Organization

Payroll processing is a mundane yet mandatory activity in every organization. Whether you are a small-scale business unit or a large corporate, it is inevitable to put resources for payroll calculation.

Keeping employee profiles updated, keeping track of the hours worked by employees, calculating leave and absence and processing payroll are daunting tasks.

Moreover, you need to carry the additional burden of staying up-to-date with tax and regulatory norms.

Is your organization still using manual payroll system? If yes, then it is a high time to help your HR and Accounts team members.

Get rid of old-fashioned manual payroll processing and implement a smart payroll processing software.

Ascent, the new-age payroll software

Those who want to keep pace with modern technology are moving to new-age payroll processing solutions.

Eilisys is one of the leading Payroll Processing Companies in Pune that brings the best payroll software for its clients.

It is the right solution that would make your payroll an incredibly easy process. You need a flexible, user-friendly and still efficient software; Ascent has all these qualities!

Get rid of the legacy system and shift to this smart HCM Software which makes the life of your payroll processing team smooth.

What makes Ascent special?

Since Ascent is the flagship software program of Eilisys Technologies which is amongst the expert Payroll Processing Companies in Pune, it has been developed to cater to the needs of clients spread across industries.

The efficiency of processing power and comprehensiveness of features outshine Ascent it in the bunch of competitive products.

Flexible reimbursement, income tax calculator and Expat grossing up tax are some of the features that make the life of operational managers easy.

If you are using some old, outdated program, then t is very likely that the features are outdated. You don’t get upgrades or updates from the service provider.

Does it mean that you are missing out the advancements? Yes, you are!

Ascent is a payroll processing software that keeps getting better and better. It gives you regular updates that allow you to extract the best output from the payroll software.

Ascent ensures that the payroll in your organization is executed to the best of its and your capabilities; today and forever.

What are the benefits of implementing Ascent?

When you implement Ascent in the company, you get a long list of advantages. It is developed by one of the best Payroll Processing Companies in Pune.

Finance Department

  • Management of Employee Master
  • Audit trail of modifications in the database
  • Automation of bank upload file for NEFT
  • Quarterly and yearly e-TDS returns in the applicable format
  • Automation of TDS calculations and digitally signed Form 16
  • Income tax calculation
  • Salary JV configuration
  • Seamless integration with existing systems (Financial accounting or ERP)
  • Online CTC reimbursement based on limits
  • Tracking of loans and advances
  • Transactional, MIS and statutory reports

HR Department

  • User-friendly employee information management system
  • Easy monitoring of previous details
  • Management of employee job history
  • Leave regularization and arrear
  • The configurable formula for every earning or deduction code
  • Automation of Full and Final settlement and generation of provisional Form 16
  • Employee and salary master data reports and export tool
  • Transactional and MIS reports and summary and export tool
  • It is the only HCM Software that gives Mass update facility
  • Hold and release of salary

Statutory compliance

  • All relevant compliance report generation
  • Generation of Form 16, eTDS Return and Income Tax ITNS 281 Challan
  • Generation of Professional Tax Statement
  • PF reconciliation statement
  • Form 6, statement and online challan
  • PF challan, various forms, and ECR Online Return

In short, Ascent is the only payroll processing software for every organization.