- August 28, 2018
- Posted by: BuzzClan
- Category: Business plans, HR
Payroll management is one of the most, if not the most important process in the HR framework. The administration of all the financial records of the employees ranging from salaries to deductions to bonuses falls under payroll management. These records must be accurately maintained to comply with the legal tax requirements, failure to do so invite heavy penalties. As the payroll management requires utmost accuracy and compliance, manual payroll handling has become the thing of the past due to its error-prone results. Payroll management software like the BUZZHRMS all-in-one system automates most of the payroll process by integrating various payroll modules like employee salary payments, tax deductions, Attendance, and employees leave information into one enterprise software. An integrated non-redundant data-driven payroll system creates an ecosystem that optimizes auditing and propagates a single source of true philosophy.
The BUZZHRMS All-in-One Payroll Management Software has a simple GUI, which is easy to navigate and have functionalities to perform complex calculations pertaining to taxes and deductions. The analytics feature ensures analysis of real-time data sourced from across the entire HR suite of software in an organization to facilitate informed decision making. Its integration with Vendor and contract payments platform adds an extra layer to track the expense touchpoints and provide a blueprint to manage payroll expenses.
The BUZZHRMS payroll system comes with a very cost-effective cloud-based solution as well. The adopters of this feature need to only subscribe to the service in order to avail it, without having to worry about the investment in hardware such as storage and database servers or any security upgrades for that matter. The security updates ensure protection from data breach and the log management system monitor any vulnerabilities that might be potentially harmful.
Payroll systems are designed to minimize the labor cost and time by mitigating issues that mushroom due to manual intervention through automation and running calculations on real-time non-redundant data. Apart from process optimization, the other features an organization should consider before adopting the all-in-one HRMS payroll management solution are:
- Inbuilt security features
- It’s compatibility with your existing platforms and processes.
- An easy to use graphical user interface
- Analytical and cognitive ability with an intuitive dashboard feature.