FlowHCM HR software is built for the HR leaders who want to make a difference. Considering every aspect of human resource management, from the way we get people on board, recruit and develop people to the way we pay them and retain them; Human Capital Management (HCM) platform does it all. Besides other good features, an excellent HR software saves time and cost, provides clear HR analytics & actionable insights and increases HR efficiency. That’s why today every business (large, medium & small) trusts FlowHCM as their most reliable HR tool to manage the workforce and streamline the entire HR processes.
Payroll Software Focuses More On Strategic Goals
People often fail to realize the importance of payroll management software in their company till they mess up with massive errors and come across the data tracking problem. Accuracy and on time payroll has a huge impact on any type of business and it’s important to understand why it is vital that a business must adopt an effective payroll system for their company.
Importance Of Accurate Payroll Processing?
Payroll management can sometimes make the HR professionals crazy, from the endless loop of paper pushing and spreadsheet filling to employees’ salary vouchers with deductions/taxes calculations sometimes also end up with errors.
Using a good payroll system can not only streamline your business but also eliminates the human errors factor. It helps in complying with Payroll/labor regulations as it smoothens the employees’ salaries process for the company.
Your employees are the biggest assets and what makes your company. Ensuring their high morale is a key to a progressive working environment. When employees get paid on time, they feel safe and secure at their job and any wrong deductions or incorrect pay may lead to questioning their financial future in the firm.
It’s important for the firms to switch from old school methods and streamline a good payroll software that would benefit employees as well. The features of an advanced payroll management software allow the employees to see what they earn, their bonuses, deductions, other benefits and increments with accuracy. This likely improves employees’ performance and their efficiency to work best for the organization.
More Control on Organizational Data with FlowHCM Payroll System
Payroll software helps to access to company’s database in real-time. From salaries-related information to leaves, you can view the required data and fetch information on the go. At the same time, you can assign individual accessibility, roles and rights to access the personal data of employees or official credentials as needed. You can also exert control on accessibility and privacy to keep the secrecy of all sensitive information, meanwhile keeping all information in a single platform.
Saves Time & Money
Since payroll working involves complex calculations of salaries and taxes moreover old manual methods of calculations or any obsolete software often ends up in errors, adding more complexity and time consuming. With a good payroll software, your HR department can not only work efficiently but also saves the time and direct/indirect costs.
Reduced Accounting Workload & Errors
Get your reports in just one click! Maintaining and tracking your business records was never so easy before. Moreover, the payroll software easily integrates with other business systems and ERP applications in order to provide automatic financial/accounting entries on the go. It’s the most effective solution to run modern-day businesses effectively and smoothly thereby preventing manual payroll errors and mistakes.
From HR to IT; the automatic reminders/alerts feature in the FlowHCM software keeps you well informed and ensures that you don’t miss anything. Whether it’s employee salary disbursement or absenteeism, employee confirmation, etc. All is intimated well to avoid last-minute hassle.
Strategic Planning & Decision Making
One of the most important aspects of HR software is the strategic planning and decision-making in an organization. It helps management to get insights into important issues and finalize decisions thereby tracking all vital information timely. The software also helps the management to determine future goals with timely decisions and helps to predict future payroll expenses to direct the organization on the right path.
Payroll Software Helps in Increasing Growth and Development in An Organization.
Improving Employees’ Productivity
Using FlowHCM Payroll Software, you can improve employees’ productivity in the following ways:
Time & Attendance
The payroll software helps to determine working hours and measures employees’ productivity. It keeps a record of the entry and exit time, absents, early going and late hours working as well. It also allows the management to monitor the login and logout time of their employees. Thus, it helps to ease the calculation of wages/working hours spent by each employee and their performance level can be checked whether it meets the target set by the firm.
Accuracy & Transparency
HR can manage flawless work with greater visibility and can reduce human errors or mistakes with the help of an automated Payroll system. Such a smart payroll system also helps companies to maintain transparency and great coordination across all their departments.
Security and credibility are highly important for any HR system, FlowHCM has adopted all standard security measures which are required. Data and application security is a key concern of HR and FlowHCM keeps all type of information and other personal details protected.
HR and other staff members feel confident and trust the FlowHCM for its high security commitments and standards.
Automated HR & Payroll System
The HR/company can enjoy real-time tracking of all activities being carried out and maintain all data of employees, so the monitoring and controlling of the flow of work is very easy with the useful information. This is where an automated HR & payroll system really helps to process payroll automatically and streamline the overall HR functions of any company with the valuable analytics. Therefore, a good HR and payroll software helps improve company’s productivity and you get optimum results.
Simplifying HR Procedures
Payroll software also simplifies HR tasks and procedures by:
Payroll Errors now No more
Payroll errors can cost you a lot and add an extra recurring expenditure every month. Whether a small firm or a large company, manual payroll processing can create issues in overall working and especially in calculation of salaries, taxes, deductions, incentives and increments, bonuses, leaves and absents etc. With so many calculations, human errors are prone to be there. However, a good and innovative HR solution like FlowHCM payroll software delivers error-free salaries and reports. This advanced payroll software not only speeds up calculations but also automatically fetches the attendance information of the employees from the biometric hardware without errors and in no time manages the accurate payroll.
Want to manage employees’ overtime? Then nothing is better than a FlowHCM payroll software. Track your employees’ real-time working, get records of their extra working hours or overtime, auto-fetch the information from the biometric attendance device etc. Thus, the management can easily track regular working hours along with overtime of employees for calculating and disbursing staff payrolls.
Compliance of Income Taxes
“Nothing is certain except for death and taxes”, Benjamin Franklin!
Taxes calculation can be a major issue and headache for any HR department. There are different income tax laws and different labor laws at national and even international level as per the country. It depends where the company operates. FlowHCM payroll software has all the tax features incorporated and stays compliant according to local tax laws and also does well when it comes to implementing or changing tax laws, salary components, customized pay runs, loans, expenses, allowances, deductions, overtime, bonuses disbursements, gratuity, other funds, and employee pay grades etc.
Let FlowHCM Payroll generate payslips with accurate earnings & deductions every month while keeping you compliant with the law and policies.
What to Look for in an HR & Payroll System?
Smart management is the key to success. When you want to purchase/deploy or may be to integrate your legacy human resource system/payroll system, consider Fastest Growing HR/HCM Software, FlowHCM is a cloud-based or on-premise and a complete end to end online solution. It’s important to check a few things before buying a Payroll and HR system. How is the customer handled? What are the security standards? What are the features? Where is the data center located? What is technology? What are the accounting systems/ERPs they can integrate with and how are the after-sales support and customer services etc.?
A good HR & Payroll Management Software serves multiple purposes and benefits to every organization. It manages various HR functions and procedures of the company thus boosts productivity at a larger volume. Above all, it is flexible, easy to use and offers comprehensive HR features for your business requirements.
Due to the COVID-19 pandemic, accurate and on-time Payroll processing has become crucially important for any business. During these days employees are on leaves, working from home or may be laid off, and sometimes they are rehired as well. It has become very imperative now to opt for any smart HR & payroll management software to deal with such uncertain business and health crises.
FlowHCM HR and Payroll Software will definitely lift up your company’s productivity and live up to your HR expectations whatever is promised. A core HR/HCM solution that works for all, so one doesn’t have to switch platforms, and log in to multiple systems. FlowHCM understands every business at a deeper level and helps all sectors at every stage of their HR and payroll solution thereby building a strong workforce that works for the phenomenal growth of the firm.
This will not only add value to your company and HR but will attract new talented potential resources also. FlowHCM promises to foster growth and development in your firm with its smart and error free payroll solution.