Managing payroll properly is essential for keeping your employees happy and ensuring your organization is in compliance with national and local laws. Even a small payroll error can result in heavy penalties, and repeated errors will cause employees to lose trust in your organization. Automation drastically reduces these errors, so cloud-based payroll software has become a popular method of managing payroll.
If you’re looking to implement a payroll management system in your organization, it’s important to be fully aware of what the system should be handling for you. Even if you already have one, understanding what to expect from it will help you use the technology to the fullest. Here are some of the goals to strive for while using a payroll management system:
Simplify and automate every step involved in payroll calculation, including collecting leave and attendance details, calculating net pay and deductions, maintaining payroll documents, and more.
Initiate payroll within a few minutes. There should be no need for manual calculations or multiple hours spent on the process.
Maintain payroll documents in a way that is consistent with your specific payroll laws, automatically adjusting for international or multi-regional departments.
Enhance your employee working experience by processing payroll on time. The system should also have a self-service feature that allows employees to access and manage some of their own payroll data.
Read more about the goals of a payroll system in our HR Knowledge Hive.