Small companies with ten or fewer employees can get by with a manual payroll process. However, if a business employee fifty or more people then payroll preparation takes time and the delay could well lead to dissatisfaction. The solution is to go in for Payroll Software. Today one can get software that automatically calculates payments to employees in addition to a host of other functions. One can opt for basic payroll calculation software too or a sophisticated one with the latter proving to be far better.
HRMS software’s are designed to provide companies with a single resource which is dedicated to managing and supporting all HR and employment processes, thus allowing them to focus on the key business areas.
The HRMS software addresses important Payroll Management requirements by aligning human resources and business strategies. It manages critical HR processes, thus bringing significant operational excellence and seamless integrated delivery.
Saving money is among the most compelling motivations that make outsourcing non-core processes like compliance and payroll an attractive solution for SMEs.The accent is on saving on time and expenses to stay competitive in the SME space. But process outsourcing comes with its own fees. So how does the saving factor come in? Continue Reading
When explaining the outsourcing concept to potential clients, we get asked certain questions time and again. In an attempt to help clear up some misconceptions around the process and help you decide if outsourcing is the right answer for you, here are some of the most common questions, and their answers. Continue Reading
There’s no denying the importance of professional payroll software when it comes to managing your company’s payroll. The benefits involve an immense saving in effort while providing you with a great deal of transparency across the whole payroll workflow. It’s all perfectly logical and simple, so far. But what about the reality of selecting the right solution for your company? That’s where it gets a lot less simple. Continue Reading
When it comes to statutory compliance, forewarned is forearmed. It’s important that employees are aware of how compliance issues relate to their daily work life. Here’s a short checklist of some important things to look out for: Continue Reading
An in-house payroll software solution might seem like a good solution to organisational needs; it isn’t always that simple. You have to consider overall scale of operations, available resources and effort, especially within the context of a small or medium business (SME). Payroll solutions need to deliver the best results at the best price with a minimum of effort; SME energies are better focused on growing core business and remaining competitive.
Negotiating the minefield of compliance can be bewildering for a small or medium enterprise (SME) without the right guidance. Without the right documentation and measures, you can run afoul of statutory and regulatory obligations in a variety of areas. Some SME business owners are surprised at the sheer range of areas of compliance. Let’s look at these, in broad outline.
To understand just how much you stand to benefit from outsourcing your payroll function, let’s take a look at all the tasks a payroll process partner like Alp Consulting undertakes:
- Getting the payroll inputs from the client
- Pulling in compensation information from branches, if any
- Validating these inputs, following up gaps Continue Reading
Outsourcing is on the rise worldwide, and the reasons are clear. In the current global economic climate, companies need to save money wherever they can. And the numbers clearly show that outsourcing functions like payroll management can lead to significant savings compared to an in-house solution.
Studies have shown that companies who retain functions like payroll and compliance in-house can spend 18% more than companies who outsource on average. Significantly, the costs make a larger dent into overall profitability for small and medium enterprises (SMEs), where spends have to be planned out even more carefully. Continue Reading