Why are companies shifting from manual payroll processing to automated Payroll Management System?

Why are companies shifting from manual payroll processing to automated Payroll Management System?

Payroll Management System in itself is the process of managing the monetary records of a company’s employees. It consists of employees’ details like Basic salaries, HRA,, bonuses, incentives and all other earnings and deductions. An employer must track the payroll and manage these records with accuracy, as per the law. If employers fail to comply with the laws of Income Tax related to employee records or delay their payroll tax filing, they can be subject to legal penalties and fines.

Devoted employees are the lifeblood of any business. One of the basic yet very important steps that you can take to ensure your employees are happy is that you process your payrolls efficiently and in time. Small business owners, HR executives, or HR departments have this extremely important process to complete month on month. It’s a cumbersome task with a number of variables and factors in play. A lot of time and money goes into ensuring the completion of this step.

For all the small and mid-sized business owners, payroll processing is a comprehensive process and often a challenge. Payroll Management System is an ongoing process and includes statutory component deductions like Provident Fund (PF), Labour Welfare Fund (LWF), Professional Tax (PT), Employee State Insurance (ESI), and Tax Deduction at Source (TDS), etc. And, any error in the process may lead to critical legal implications.

Some common problems related to payrolls that organizations face are listed below:

  1. Time-consuming delaying payroll processing
  2. Unnecessary associated cost
  3. Human errors while processing details
  4. Failing to keep regulatory/tax changes up to date
  5. Un-organized setup and insecure data.

To resolve the above problems why not switch to Payroll Management System. Help your HR department reduce its overhead cost and cut out a significant amount of time in processing your payrolls. Leysha.ai has a fully configurable payroll generation feature using which you can automate the entire process. It provides multiple configurations, eliminates errors, and generates payrolls with ensuring strict statutory compliance in just one click. Also, it secures the data within your organization.

Read below the benefits of Leysha Payroll Management System

• Real-time attendance from multiple locations and devices into a central location eliminates any errors.
• Insightful HR reports.
• Supports any number of fixed / flexi and semi flexi shifts in a day.
• Leaves Management
• Holiday Calendar
• Expenses allocation and management
• Automated Payrolls with pre-defined deductions or incentives.
• Automated emailing of pay slips.
• Integrated employee and resource management.

Read more about what Leysha can do for your business at https://leysha.ai/features/, Schedule a no-obligation FREE demo NOW. Call +91 70007 47714

Leave a Reply

Your email address will not be published. Required fields are marked *