While determining the employees’ salary in India, there are various financial components that are taken into consideration. This includes net salary, gross salary, provident fund, bonuses, leaves, daily allowance, and many others. Hence, manual payroll processing becomes a tedious and difficult process for your finance team. What if you can transform your payroll process? It is indeed possible with Payroll Management Solutions.
Let’s find out the ways to reform the payroll process in India in detail!
What Is the Payroll Process?
The payroll process refers to determining and crediting the employee’s salary. The cycle starts with creating a list of paid workforce and usually ends by making a record of incurred expenses. It is a complex process that demands the collaboration of numerous departments like payroll, human resources, and finance. When companies deploy employee payroll management software in their business, it becomes easy for them to handle all the complications without hassle.
5 Easy Ways to Optimize Your Payroll Process with Payroll Management Software
Given below are some ways in which you can use an automated payroll management system to optimize your payroll process:
Auto-Fetch Work Hours
With the Best Payroll Management System , you can automatically fetch employees’ details like their working days, hours, leaves, overtime, and holidays with ease. The software auto-collects data from the attendance and leave management software that is integrated into your business.
Thus, the payroll team doesn’t have to contact each employee in person to know these details. This automation tool will access all the details and provide complete visibility into the payroll of field executives.
Auto Payroll Calculation
Another way in which a field employee payroll management software can simplify your payroll process is by calculating salary automatically in one click. The payroll team can simply define the pay rate, overtime payout guidelines, other benefits, and deductions in the software.
The software will include all the guidelines, wages, bonuses, and commissions to compute the salary of field employees. The best part is that the software also makes payroll calculation easy even if there are shifting differentials.
Create Accurate Pay-Slips
It is a time-consuming process to create employee pay slips manually. However, you can make salary invoices for each field executive in one go with payroll management software. The payroll management software auto-creates the payslips with a clear breakup of salary components.
Your field force can use the same software to download them without hassle. In simple words, a payroll management solution helps businesses in faster payout processing with accurate and in-depth salary data.
Detailed Reporting and Analysis
An organization can also use employee payroll management software to collect detailed insights into the activities of field employees. The manager can track the actual punch-in and out timings, leaves, and much more for each executive in detail.
Hence, the management can identify the time and leave patterns of field employees and take necessary actions to improve them.
Accurate Salary Processing
An automated payroll management system helps businesses streamline the entire payroll process. From fetching employee attendance and leave details to creating pay slips, the software optimizes end-to-end operations. It automates the complete process while ensuring transparency in them.
Which Is the Best Payroll Management Software For Your Business?
Every business invests in automation tools like payroll management software to simplify their processes. So, which is the most appropriate one for your organization? You must choose TrackoField! It is an all-inclusive platform that simplifies the job of HR and finance teams.
Given below are some of the features of TrackoField’s field employee payroll management software:
- Manage attendance, leave, and work hours data on a single platform.
- Auto-generate salary payslips including overtime, leaves, bonuses, and other deductions.
- Integrate the software seamlessly with CRM, HRMS, and accounting systems.
- Mobile-friendly software to manage payroll or download payslips from anywhere anytime.
- An intuitive and user-friendly dashboard to navigate the software easily without any training.
The best part? TrackoField provides an all-in-one Field Force Management Solution for businesses. Companies can invest in field force management software to track and manage their remote employees efficiently. Try the software now! Contact us to book your demo!
