Technological advancement has improved the efficiency and quality of work in different sectors. In business and management, technology has made the HR task more manageable with the ERP system that integrates various business functions ranging from management of database, payroll and attendance management, evaluation, and recruitment. Mostly the small businesses use ERP systems.
ERP is an acronym for the software named Enterprise Resource Planning. It includes different modules for managing the workings of each area in a business. In the HR department, this software guarantees the smooth accomplishment of administrative work, thereby saving time and effort. Instead of doing the HR task manually, this software allows the automated handling of the specific fields.
Features of an ERP HR module include:
Organizational Management: ERP plays a vital role in the planning and implementing the strategies aimed at developing the employees of an organization. It helps to manage and record the activities of the workforce of a company.
E-Recruitment: It allows the recruitment of in-house employees and also external candidates for remote work. It enables interviewing and hiring people irrespective of their current physical location.
Time Management: Instead of wasting time getting the work done manually, the ERP system ensures efficiency and time management. ERP allows maintaining the employees’ record, attendance, absence, salaries, bonus, etc.
Personnel Administration: This system helps in managing the personal data of each employee in the company. The database is controlled and updated as per the changes in the company’s workforce.
Reporting: This ERP system helps in generating reports on employees’ performance. In the case of all employees for all departments, it records a consolidated statement.
Payroll: It is one of the most significant functions of this system. It helps in managing the payroll of the employees of the company. The system integrates this module with other modules like attendance details of the employees for a consolidated record. In case of any deduction or bonus for overtime in the employees’ salary, the system updates the data accurately. The company uses effective software for this purpose.
HR & payroll software
Out of all the HR functions performed by ERP, payroll software plays a crucial role.Control ERP HR & payroll software is a solution used by HRs that helps manage the entire payroll cycle. Payroll software includes the enrollment of employees to the company’s payroll, keeps records, and allows HRs and professionals, and managers to monitor these.
There are countless software designers, and they have introduced variations and added facilities to HR and payroll software. Some software can function for multiple companies. The software eases the process of monitoring and also sends notifications accordingly.
Payroll software performs the following tasks:
- Structuring Compensation
- Maintaining compliances and taxes
- Managing Employee Loans
- Generating Payslips and Reports of Salary benefits
HR and payroll software for small business
It is of immense significance for a small business. It enables hassle-free record keeping and saves time and effort. Moreover, the record-keeping and tax deduction calculations are done accurately without any error. It makes the process more straightforward, and it is inexpensive as well.
Again, it ensures clear visibility in tracking the expenses, sends notifications, and generates reports, thereby maintaining transparency. The use of this hr and payroll software for small business provides the security of confidential information by enabling each staff to view only individual payroll. It also makes employee onboarding easy. This software facilitates the online payment of salary, and it allows employees to download their pay-slip and tax worksheets.
This HR and payroll software also allows integration with business apps and gives data access to multiple departments. It also helps in making customizations such as allowance, deductions, and earnings according to company policies. The software helps in multitasking in salary computation and enables pre-formatted reporting of tax. Finally, it manages the attendance and calculates the number of leaves taken. Hence, using this ERP-based payroll software ensures the accomplishment of all HR-related tasks with ease.
Instead of manually maintaining the employee sheet and salary sheet, the HR departments now resort to ERP systems. The automated HR & payroll software makes the process of paying employees simpler. Companies specializing in HR Technology sell automated payroll software to cater to this specific need of the companies. Currently, almost all companies and organizations have shifted from the old paper-based salary sheets to payroll software. It enhances the efficiency of the HR department and reduces the scope of errors, thereby making the process smooth and accurate.