| - Adoption of new liberal policies in India has given | | | | Emphasis on improving payroll efficiency / |
| birth immense opportunities to its industries. | | | | reducing costs such as by consolidating payroll |
| Success story of India's Software Industry is a | | | | processing, minimizing pay cycles e g weekly to |
| step in the same direction. Bolstered with a | | | | monthly, increasing usage of electronic payments |
| significant, technically sound resource base, the | | | | While most businesses recognize the need and |
| software industry has grown unimpeded across | | | | importance of using professional payroll software |
| various functions with the aim to streamline | | | | to manage the company's payroll, the question |
| processes within the organization. | | | | regarding the need for payroll software does |
| The deployment of technology remains at the | | | | come up from time to time. The answer has two |
| forefront of the HR effectiveness agenda, given | | | | parts: firstly, the specific pain points addressed by |
| its impact on the bottom line and management's | | | | the software and second, comparison with the |
| expectations that it will help streamline the | | | | alternatives. The payroll software industry is vast |
| organization and its HR processes. Increased | | | | and the mushrooming of me-too vendors makes |
| technological efficiencies and options in recent | | | | choosing a payroll software a daunting proposition. |
| years mean HR professionals now have an | | | | Companies today generally shortlist a vendor |
| opportunity to make greater gains, and realize | | | | based on various considerations, some of which |
| better results, than they have in the past. | | | | are |
| | | | | - Cost |
| The continued growth of web has enabled Payroll | | | | - Flexibility |
| software and systems, including: | | | | - Functionality |
| Employee Self Service within Payroll software | | | | - Implementability |
| eg to view personal data, pay history, benefit | | | | - Stability |
| details, amend bank account details | | | | - Usability |
| | | | | For Small And Medium Enterprises In |
| - Digital pay slips | | | | India Choosing the right payroll software is |
| - Web interfaces eg from time and attendance, | | | | very important to the success of business and |
| absence planning and reporting | | | | the current market trends reveal that companies |
| - Workflow functionality eg automated time sheet | | | | are actively gearing up to choose the best |
| submission and leave requests | | | | product and the best service provider . |
| - Online tax reporting and filing | | | | Upcoming Payroll Softwares: |
| Non-web payroll software trends - continued | | | | There are various payroll software in Indian |
| growth of: | | | | market, still there is lack of big players in market, |
| - Regulatory compliance | | | | though companies like Sage Software, which is |
| - Integration of Payroll software and Human | | | | worldwide a leading name in accounting and payroll |
| Resource software | | | | software has launched Pocket Payroll Software |
| - Integration with Time and Attendance | | | | specifically for Indian market which embarks the |
| - Integration with ERP systems, tax reporting | | | | entry of big players in Payroll Software in India. |
| systems | | | | |