Payroll software is a cloud-based solution that automates the payroll process in the organization.
It calculates payroll, handles compliances, distributes employee salaries, and maintains the security of employee data.
More advanced features are included such as modern payroll and management software that handles everything dependent on salary management.
1. Compliance management
An HRM software is not complete without a statutory compliance module. Hence it should be designed from beneath and updated regularly according to changing laws. This ensures that payroll is accurate with regular updates of changing rules and regulations.
2. Advanced cloud security
The feature of encryption achieves data security, and data is always crash-proof. The employee data is stored in the cloud and decrypted whenever the user retrieves it. This process should be clear to the user And users with the right credentials can retrieve the data, even if they are not tech nerds.
HR managers keep sensitive business and employee data and losing data is fatal to the whole organization. You can view the attendance and check-in times for any corner of the globe.
3. Mobile app
Due to the rise of mobile phone usage, employees can access the mobile app anytime and anywhere. This is the reason why payroll software has apps for getting the data. Employees get a salary on time even if they work remotely and regular updates and notifications are also shared.
Mobile-specific hardware features enable the microphone, camera, fingerprint sensor, face recognition, and so on in one platform.
Employees can mark their attendance even when he/she is not there at the office or doing remote work.
Leaves submitted on time make approval of leaves more certain. With quick approvals and transparent summation of leaves, the payroll will not have inconsistencies.
4. Employee self-service
It is a great do–it–yourself platform and employees can look in their HR app to find accurate information on payroll, attendance, and leaves. Employee self-service is a much-needed feature of modern HRM software.
Whenever employees are given self–service access to HR software, they upload their data, indirectly saving the money and time of the organization.
Employees can upload their data such as certifications, emergency contacts, addresses, and phone numbers on their own, and that too without errors.
5. Highly customizable
Many organizations have different requirements for payroll software, as no two organizations are identical. Ideal payroll software accomplishes all requirements and also modules work independently.
It is also advantageous for interactions and also seamlessly transfers data from one system to another.
6. Real Time insights
Payroll management software shows real time graphs and insights to understand the current scenario.
The study of insights is followed by suitable corrective measures. Payroll software also prepares custom reports for payroll solutions with a versatile report generation module.
The HR team is examining employee data through real-time analysis to study the full life cycle of employees.
7. HR chatbot
Chatbots can be used to interact in a common language and it uses AI technology to understand the query and give accurate results. This feature transitions many HR functions to a chatbot and repeated replies to common and easy questions.
Many companies are shifting their customer support to chatbots. Even though the recruitment process is lengthy, employing chatbots to evaluate the candidates is.
If there is doubt regarding HRMS, chatbots will automatically answer it.
These virtual assistants work round the clock, including on weekends.
Chatbots will make strong connections between employers and employees when payroll issues are resolved quickly.
8. Fully Paperless
No more sad wastage of paper, by recording the functioning of office tasks in pulp or paper. Modern workspace has limited space and paperless existence that helps to use office space in a more useful manner.
Book a demo for Artify360 Payroll Management Software.