Human resource and payroll management play a vital role in any organisation, irrespective of industry, size, or market. These are critical to the success and profitability of an organisation. An ERP-based HR software can not only ensure employee data integrity and accuracy but also serve as a constant audit mechanism.
Deploying an ERP system for HR and payroll management helps regulate the numerous manual procedures in this department and has the following benefits:
Payroll calculation and disbursement to employees is often complicated and prone to errors when done manually. Moreover, there are many protocols companies need to follow to arrive at the actual salary to be paid out. Along with considering the productive hours of the employees and the leaves they have taken, organisations also need to calculate tax and other deductions. With an automated payroll software, the task is done by pre programed modules that deliver accurate results with just a few clicks.
Reduces time and effort
Manually entering man hours and tracking employee activities can be a labour-intensive and time-consuming process. An ERP-based HR software automates the entire process and produces periodic reports and pay checks within no time. Furthermore, the HR software can track all the employee activities and smoothen the administrative tasks right from handling job applications to retirement.
Eliminates human error
Managing large chunks of data manually is a cumbersome process and the validity of the data can be questioned as it could be riddled with human errors. With an HR and payroll software companies can be assured that the data is accurate. An ERP software acts as an integrated platform with one database and thus the data integrity is maintained at all levels.
ERP-based HR and payroll software is equipped with tools that restrict the accessibility to the software. Organisations can set up visibility parameters to allow only authorised persons to access the data and thereby reduce the risk of illegal manipulation or misuse of the data.
Overall, ERP-based HR and payroll software aid organisations in handling their most valuable assets – the employees. Use an ERP software to simplify and automate all aspects of the HR process. From acquisition to retirement, all employee data can be tracked, managed and analysed easily.