Comprehensive & Effective Ways of Using a Payroll System

The most important problems found in any companies related to HR are handing out remuneration checks and transferring funds for company’s employees. These are regular chore that every business undertakes. Most of the routine tasks that are done manually can now be automated by software and hardware solutions. Therefore, it is only logical to set up an effective payroll system to improve the productivity and efficiency of your HR department.

Payroll Management System, typically, can assist you with:

  • Calculating major factors such as the hours spent in the office by an employee
  • Calculating the amount of remuneration that each employee receives
  • Online leave management, tracking
  • Statutory Compliance Reports such as PF/ESI/TDS/PT
  • MIS Reports and graphical Dashboard
  • Expense and Reimbursement Claims

By using greytHR payroll software, all above processes can be performed very effectively and easily without facing any hurdle in the system.

Comprehensive & Effective Ways of Using a Payroll System

For Payroll Outsourcers:

Outsourcing your payroll services can be more advantageous. greytHR is the ideal technology partner for payroll outsourcing service providers. By automating the number crunching, report generation, and client communication, it enables handle more business with less effort. An effective payroll system will have a robust security feature that will not allow fraud by employees.

Performing the below methods will assist you in employing a very good and effective payroll system for your organization.

Steps:

  1. A kickoff meeting:  The main goal of a kickoff meeting is to put your project in front of important people and address any reservations. Invite your key stakeholders, vendors, and key users for meeting. In this scenario they could be Directors/CEO, Finance team, HR team, and IT team. Discuss the steps in which the system is to be deployed and mention the key objectives of each step. Your aim is to get full participation from your stakeholders.
  2. Form a detailed action plan: The project plan you make should take into account the resources available and the methods of the vendor in the deployment of the system. Consult your team members on the appropriate dates to deploy parts of the system in different departments. Decide on specifics of the project such as the start date, tasks, duration, and end dates. Assign a task to each member of the team to be completed by a certain date.
  3. Reassess your current process: As you are already undergoing changes, it will be a good idea to reassess your current processes. Some business processes would have evolved that are inefficient and even redundant. Re-evaluate your processes and make necessary changes. Question critical aspects of certain processes such as whether a duplicate set of data is necessary or manual calculation of a certain data is important for the process. This is a great time to automate aspects of your processes to increase their efficiency through automation software.
  4. Device a training plan: The users of the software will require training in order to use the software to its peak ability. So determine the areas where each user will need training and provide the details to Greytip so that they can develop a schedule for the training post implementation. Another area of training is reporting. It is important that users have the knowledge on how to generate desired reports. This will not only help in accurate report generation but will also help with the auditing of the data.
  5. Sample testing of the system: Prepare a sample of test employees who represent a section of your organizations demographic. For your sample population, ensure you include employees who represent all segments of your database. For example, include employees who are salaried hourly, union or commissioned and having different benefit plans, age, gender and marital status. Process the payrolls for this sample set of employees, compare the results, and verify the data. Make any adjustments to the system configuration as necessary.
  6. Analyze your current data: How much data will you require for the successful conversion from your old system to your new one? Analyze this and contact your vendor to know what formats are suitable for the data conversion process. Ensure you back up data before it is migrated to the new system. You might need it for other processes. This is also a great time to review all of your data for inaccuracies.
  7. Formally record your new business processes: You will need to create a backup of all your new business processes. So make a formal report of all your new business processes. This will also serve as a revision of the new software and will be helpful as a test script for the future. For example, it could be an updated Leave Workflow or a streamlined Expense Claims workflow, and so on.
  8. Celebrate the go-live date: Once all the work is done, you should celebrate your success. You and your team members have worked very hard for this date and this should be a cause for celebration.
  9. Schedule a follow up meeting: Once everything is up and running, schedule a meeting with your team and the vendor to discuss any follow-up requirements. You can also discuss future phases that you plan to implement. Applaud your success and review the problems that were faced. Highlight the learning points that will help with any future implementation of projects.

Therefore, if your organization is in need of a system that is versatile and based on accuracy, you have to get your hands on a payroll management system such as greytHR to take your business to new levels of proficiency.

Nishit Jariwala

Blogger, entrepreneur, designer, photographer and a dreamer are just a few words to describe Nishit - an engineer by chance and an entrepreneur by choice. Entrepreneurship is not a career decision for him, it is a lifestyle choice he made when he was only 17.