What do you think is the secret behind a successful company? Everything to be exact!
And, what is the role of a HR in a business? Management of the entire employee journey, including onboarding to exiting, or even more!
But doing everything means the HR manager’s job seems exhausting. This becomes even more head-breaking with a manual work system, especially with the piled-up spreadsheets, and papers to be catered for. Fortunately, thanks to technology and software solutions that help manage these daily responsibilities, HR’s work life is easier.
Do you know? According to the SCORE survey, SMEs spend 41 hours on tax calculation and payroll processing every year. Gosh! That’s too much.
And, according to a survey by Clutch, 25% of SMEs still use pen and paper for tracking their daily finances. 45% of them don’t even have an in-house bookkeeper or accountant to manage their finance tasks. That needs a real look-through!
It’s not impossible to do things manually, but wasting so much time and effort on a thing that can be done automatically is the catch. From managing salary structures to maintaining employees’ overall records, attendance, and bank accounts for tax filing, everything involves patience and time.
But, what if I told you that we have an automated solution for all the above hard work to simplify the HR processes that are just a few clicks away? A technologically driven business like Unistal is making a difference by bringing forth HRM Mitra – Payroll Management Software.
You must be wondering, what is HRM Mitra?
HRM Mitra is a SaaS-based, easy-to-use platform that automates the complete employee lifecycle from onboarding to exit. The HR team can carry out their responsibilities effectively and efficiently with the least paperwork. A magical tool for employers to conveniently track employees’ attendance, payroll, and leave approvals.
Talking about payroll, it automatically calculates salary, leaves, attendance, working days, taxes, bonuses, and much more without the hassle. Payroll Management Software eases HR burdens by keeping track of employee lifecycle activities, simplifying HR work, and providing efficient results with zero mistake.
Automatic calculation saves time and cost than manual calculation. It reduces the risk of tax non-compliance while ensuring employee paycheck accuracy. With this all-around software, employees can access their salary notes anytime, anywhere with complete security.
You can now manage and maintain employee payments automatically on an online platform.
Check out these key features HR managers can use to ease their work.
· Automatic salary calculation based on your leaves and working days: It reduces errors while calculating salaries. It also makes the process faster and more convenient for employers while ensuring everyone is paid accurately and on time.
· Income tax and TDS configuration: The software ensures taxes are accurately calculated and paid on time. This reduces tax paperwork and manual calculations.
- Bonus, AREAR/CCA, incentive configuration with payroll: This ensures that employees receive the correct bonus or incentives they are entitled to.
- Target-based salary configuration with payroll: The automated system helps maintain transparency while ensuring employees are paid in accordance with their performance. The software also allows employers to customize salary structures and adjust salaries based on performance. Finally, it ensures real-time salary updates
- Quick and easy payroll reconciliation: This allows employers to quickly review and confirm payroll information, allowing for accurate and timely payments. Moreover, it simplifies the overall process and reduces manual calculations.
- Hassle-free pay slip generation: The automated system generates payslips easily, reducing administrative burden.
- In-built accounting features: This feature helps track and manage financial transactions, ensuring accuracy and visibility. It also simplifies the accounting process, allowing employers to focus on other areas of their business.
- Integration with time-attendance devices: This integration allows employers to monitor employee attendance and hours worked in real-time, improving efficiency and accuracy in payment calculations.
- Minimal Manual Intervention: Employee attendance can be tracked accurately and reliably with minimal effort through the automated login-in and log-out system. This reduces the administrative burden on the HR department, freeing them up to focus on other important tasks. Additionally, it ensures employers adhere to attendance policies and regulations.
Payroll Management Software offered by HRM Mitra can benefit businesses. Here are a few ways businesses can benefit from these services:
- Time and cost savings: Businesses can save time and reduce costs associated with hiring and training in-house staff. We have expert resources to handle the payment process efficiently, ensuring accuracy and compliance.
- Compliance with regulations: Processing payments involves complex regulations and legal requirements related to taxes, deductions, and labor laws. Our software stays updated with these regulations and ensures compliance, reducing the risk of penalties or legal issues for businesses and making the process smooth and hassle-free.
- Accuracy and reduced errors: Manual payment handling is prone to errors, which can lead to financial discrepancies and dissatisfied employees. Unistal payment software uses automated systems to ensure accurate calculations, minimizing mistakes.
- Data security and confidentiality: Payment data contain sensitive information such as employee salaries, tax details, and personal data. Our software employs robust security measures to protect this data from unauthorized access, ensuring confidentiality and privacy.
- Employee self-service portals: HRM Mitra offers self-service portals where employees can access salary information, view payslips, update personal details, and submit time-off requests. This empowers employees, reduces HR administrative tasks, and improves employee satisfaction.
- Scalability and flexibility: As businesses grow or undergo changes, managing salaries can become more complex. HRM Mitra’s services can scale accordingly, accommodating the changing needs of the business. This includes adding new employees, handling multi-state payroll, or incorporating different pay structures.
- Focus on core activities: Outsourcing the payment process allows businesses to free up internal resources and focus on core activities, such as strategic planning, business development, and customer service. This improves overall productivity and efficiency.
- Reporting and analytics: Our SaaS-based software provides detailed reports and analytics, allowing businesses to gain insights into labor costs, employee trends, and budget planning. This data can inform strategic decision-making and optimize payment processes.
- Streamlined integration: HRMS’s payroll management system can be integrated with other HR systems, such as time and attendance tracking or HRIS (Human Resource Information System), creating a seamless flow of data and reducing manual data entry.
To warp up,
Overall, partnering with Payroll Management Software can bring efficiency, accuracy, compliance, and cost savings to businesses. This will enable them to focus on their core competencies and drive growth. In a recent study, 30% of companies said they would strongly consider changing payroll providers to find a better user experience (Zenefits).
So, say goodbye to your old school of manual working practices and adopt the new automated Payroll Management Software by HRM Mitra for an effortless work process and gain maximum benefits for your business.
