Timeline for Evaluating Payroll Management System
A payroll management system is a tool or a software program that allows a business to handle the financial records of all employees in a convenient and automated fashion. With a good payroll management system, you can manage your business efficiently. A payroll management system is software that takes care of and manages the salary payment of employees in an organization. This also includes allowances, salary, deduction, and net payable to the employees. It is very essential to have a payroll management system for smaller companies and startups.
Five steps to a successful payroll implementation:
1. Search and select the new payroll and HR system
Before you begin to research your vendors more closely, it is essential to have a good understanding of your business needs internally from a new system. Through the review sites, you can get a good sense of your vendor’s reliability, trustworthiness, and support level. Another important thing to consider in selecting a vendor is how much work their team is committed to completing as a part of your onboarding process. There are a wide variety of pricing models among payroll and HR Software. You need to understand what is included in the budget and what will cost extra.
2. Set a target date and define goals
The essential component of a successful implementation is setting a timeline with goals. After completing your research and selected a vendor, you need a road map to get to your ultimate goal, a successful first payroll with your new system. The creation of a project road map must be an association between you and your vendor.
3. Create a plan for implementation and team
Assign and delegate one person on the payroll or HR team with good project management skills to lead the implementation. Depending on the size of the company, you can include more people in the implementation. For a smooth and transparent process, set up a meeting with key members of the project to discuss the new system. The key part of setting up the project leader and team members for success is to ensure that you have set aside time in each of their workweeks to devote the project.
4. Train your employees
Proper training can help everyone to become accustomed to your new system and understand the advantages to them. For a training program to be successful one has to follow this:
Plan a vendor-led training for your payroll and HR personnel as well as managers
Train every single employee on key functionality.
Establish reports for management that help them make the most use of data in the system.
Document new business processes and new terminology to assist employees with incomplete system tasks without calling the project manager or you.
5. Go Live
Before processing your first payroll complete the quality assurance checks on the data and consider executing a parallel test run in the new system. The last step is to evaluate that first payroll. Keep a note of any mistakes, areas of improvement, or any new challenges that you would like to see.
Everybody wants to grow their business but it comes with a large number of employees and the responsibility of their payrolls. It becomes tiresome and logically not possible to manage the leaves, deductions, attendance, reimbursement claims, and expenses of employees single-handedly when a large number of people are working for you. Hence, the need for Payroll Software arises as an essential need for running the business smoothly without issues cropping up.
Let’s look at some of the best payroll software in India
SumHR Payroll Software:
It is a solution for the hassle and struggles the Human Resources go through while managing the payroll of employees. This software is responsible to take care of complex payroll processes and other HR activities.
With the integration of this type of software, you can store details of the employees, manage their salaries, and keep a tab on their professional behavior.
Keka HR:
This is a well-known HR and Payroll software in India that is not only employee-centric but also comes with a user-friendly interface. It offers a wide variety of solutions to the business owners’ right from managing the attendance, salaries, and employee details. It comes with an additional feature where the management and the employees can streamline their professional commitments and their work.
Beehive HRMS:
This is the most dedicated and professional online HRMS platform that you can get at the best price. This software is responsible for the entire lifecycle of an employee’s starting from the job application until receiving. It stores details of all the employees of the company on cloud storage and helps the HR team to manage leaves, payroll, reimbursement claims, and other employee-related tasks nicely.
Advantages of payroll software
For any organization, payroll is a business-critical operation. Having a good computerized payroll system can help you carry out your pay run with greater speed and efficiency. Let’s look at some of the advantages:
Generate accurate payslips
Calculate bonuses, expenses, and holiday pay with minimum effort
Workout payroll calculations and deductions quicker
Reduces the burden of compliance.
Automates certain tasks like year-end reporting.
On a final note:
Implementing Human Resource Information Systems (HRIS) is a complex and long process. If one does not keep the time factor and finds time to accurately develop your strategies for future of HRMS or adjust this strategy when needed. As long as one takes the HRIS implementation process seriously, your company will soon smoothly evolve into a systematic and effective era of HR management.
