How the Best Human Resource Management System Fixes Payroll Delays and Errors
With the right HRMS Software Solutions, enterprises can liberate both their employees and their HR managers from the nightmare called payroll-chaos
Isn’t it strange how a hygiene factor can turn into a X-factor? Because of inefficiency, neglect and slack. It is not hard to come by two friends chatting about whose organisation is better to work for. They can count arguments against each other, singing laurels about their workplaces, until one of them says – “But I get my salary paid on the first of every month- no follow-up!” Period. End of the debate. The argument for Best Human Capital Management is, somehow, now about timely payroll.
Let’s face the dark truth. Payroll management has become a hassle for HR teams and a pet-peeve for employees. What should be a simple, on-time and meticulous routine-area has been reduced to an ugly knot entangled into delays, errors, endless follow-ups and doubts over various deductions. What should be on auto-pilot is now a vehicle that has to be pushed out of some pit every month. Imagine how much HR time, morale, employee peace-of-mind, productivity, manhours, employer brand integrity, paperwork, duplication and arguments get wasted in this roadblock. Getting stuck into payroll delays and inaccuracies is not how the Best Human Resource Management System looks like. Does it?
No. Specially when we live, and work, in an age where technology has solved so many of our mundane problems. Now there is a software for every task, a click for every process and an answer for every error. Smart technology infusion can -so easily- bring in that much-needed visibility, transparency, promptitude, speed, accuracy and effectiveness in the area of payroll management. What better example than that of Presence 360.
Enterprises using Presence 360 have been able to successfully, and seamlessly, streamline payroll processing. They are automating salary calculations, tax deductions, and compliance reporting while ensuring that there are no delays and errors in payroll disbursements. With an intelligence-driven and data-rich solution like Presence 360 , these enterprises can also design systems to manage payroll for diverse employee categories, and embed specific requirements unique to their industry and workplace. They are able to achieve accurate, on-time payments with the strong and deep integration of payroll data with attendance and leave data as well as financial data. This is happening in a secure, engaging, transparent and data-powered way with one of the Best Human Capital Management approaches empowered through Presence 360.
The precision, rigour and timeliness of Presence 360 seem like a miracle of elegance and a dream-come-true for any HR manager and enterprise boss. But it’s as simple as mixing AI, ERP, HR intelligence and real-time data together in a smart stroke. It’s all about collecting, drilling, interpreting, processing, providing and integrating data related to various areas – at the right time and with the right user/decision-maker. It covers various facets and equips them with the strengths of automation, intelligence and actionable analytics.
A good HRMS Solution not only equips HR for timely payroll but simultaneously helps it to achieve multi-pronged outcomes. And enterprises expect that to happen. Some global surveys done in 2024 show that the key business drivers for payroll transformation in the next 2-3 years would be operational efficiency (30 per cent), improved employee experience (30 per cent), pay transparency (31 per cent), pay equity (30 per cent), robust data security (27 per cent) and a holistic information view (19 per cent). Presence 360 ticks all these boxes, and more.
Due to the deep and flawless integration of various data as well as their spot-on actionability, various enterprises have been able to drastically reduce payroll errors and ensure timely payment. With the Best Human Resource Management System by their side, enterprises have seen staggering improvements in payroll accuracy and saved a lot of manhours and processing-friction in the bargain. For a customer using Presence 360’s
solution, payroll errors dropped by 90%, HR staff reduced payroll processing time by 50%, and automated calculations elevated as well as accelerated compliance with labor regulations. This translated into massive savings of employee productivity, liberated HR for strategic initiatives and cut down penalties/risks of non-compliance. Not to forget, the accuracy, transparency and timely payments improved employee morale and trust once again
At least, none of the employees working in places that use Presence 360 end their ‘my workplace’ debate with something as basic as ‘I get paid on time’. They start the argument there. As it always should have been.
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