28Nov

Top 6 features that you should consider while choosing HRMS.

Spine TechSpine Blogs

Top 6 features that you should consider while choosing HRMS.

Confused about what you should look for when choosing a Human Resource Management System? Keep reading to know about the major features that are a must for any organization.

Every organization is built differently and so are its needs and management processes. A Human Resource Management System aims to facilitate and improve efficiency of these HR Processes. Let us take an example, think of jeans, yes denim is great by itself but a pair of properly tailored jeans are going to elevate your entire outfit. A properly chosen HRMS is going to enhance your organizational efficacy. Through this blog, we intend to make you aware of the essential features of an HRM System so that you can get that “Tailored Fit” for your organization. So without further delay, let’s get started!

          1) Leave, Time and Attendance Management

 Time and attendance management is one of the fundamental features of HRMS. It automates the tedious task of marking attendance of every employee, keeping track of their leaves and all other consequential tasks like sorting leaves as paid/unpaid or informed/uninformed and such.HR Software also aids in calculation of leaves, segregation according to the predefined type and reflection of leaves in salary processing.

     2) Payroll Integration

 

Salary processing is yet another fundamental duty of an HR which is automated by HRMS. An HRM System not only processes the salaries of employees for a given period of time but it also automatically calculates the amount to be processed in integration with Time and Attendance. Besides that, it is also possible to view salary breakdown and arrear calculations with HRMS. Like this, transparency is maintained with the employee gaining their trust and creating a healthy work environment.

          3) Employee Self Service (ESS)

Employee Self Service (ESS) is a major module of HRMS. ESS enables the employee to view and change their personal and professional information without concerning the HR. Making changes in the employee master requires approval of the HR though. This also saves time as the employees no longer need to consult the HR to make such changes and this time can be utilized for better workforce management.

         4) Onboarding and Recruitment


Going through resumes, sorting the resumes, getting back to the applicants, interview tracking, onboarding, training, training assessment. These are some of the processes that are carried out when recruiting a new employee. An HRMS automates all these processes so that all the HR has to do is conduct interviews. Hours worth of tasks done as the interview process goes on. With HRMS The employee as well as the manager can keep track of the employee progress and training.

          5) Performance Management System (PMS)

It is necessary to know how your employees are performing. PMS allows you to track your employee performance which enables you to appraise excellent performers and motivate poor performers to do well. Personnel can define goals for themselves and have access to their performance history for comparison. This allows them to always be a step ahead of who they were yesterday.

          

         6) Reports and Analytics

HRMS provides you detailed and graphical reports and analytics for better, visual understanding. Reports and analytics are necessary for a company to track growth on both individual and organizational level. An HR Management System automatically generates various important reports along with statutory reports and provides analytics which is crucial for performance tracking. The provided reports can be used as a reference for comparison be it department wise or comparison of the whole organization with previous years’ performance which would help the company to constantly keep growing. 

Now that we’ve discussed the key features of HRMS, let us guide your though why you should opt for HRMS in the first place. There are multiple benefits of switching to an HRM Software, some of them are

●     Paperless Approach

Tech-Driven processes are becoming increasingly popular as they are more efficient, cost-effective and secure than the traditional ‘pen and paper’ approach. Going paperless is also environment-friendly and adds up to the social and professional status of the company.

●     Mobile Compatibility

 An HRMS may be implemented On cloud or On premise on your choice. Many HR solution providers also have a mobile app or at least a webpage which allows the user to access the interface from their mobile phones. Spine HR Suite offers a mobile app for both Android and iOS as well as a web page which allows all round accessibility so that you have the access to your organization on your fingertips!

          ●     Value for Money

 The whole point of HRMS is providing more for less. Of course your budget matters when choosing an HR Solution for your organization. Do you really require all the tools that HRMS provides? Do you need the full-fledged services of HRMS? For most organizations the answer would be ‘no’ and hence, HRMS is usually modular so you can pick and choose. Spine HR Suite is a great solution if you are looking to cut out all the unnecessary tools and get that “Tailored Fit” of a solution as discussed above!

Conclusion

 To sum up, having an HR Software is a great advantage to an organization. But you need to know what to look for in a product. The different features that HRMS offers is what makes it such a significant switch. And now that you know what features to look for in an HR Management System, you can check out why HRMS is becoming a need and how you can get started here.

 Spine HR Suite not only offers you these 6 essential features but 19 different modules to pick and choose from, for that “tailored fit”!

28Nov
Spine Payroll

What is a payroll software and all you need to know about it!

Spine TechSpine Blogs

Payroll Software is the future of payroll processing, but do you know enough about it?

We’re sure you would’ve heard about payroll at least once, but have you ever wondered what exactly is a payroll software, what are its benefits and how does it work? Keep on reading to know all you need to know about payroll.

What is payroll software?

Simply put, Payroll is the process of paying salary to a company’s employees. A Payroll software automates the process of calculation and salary disbursement. Different departments like HR and Finance need to come together to calculate payroll the traditional way. But with payroll software, the processes are automated and hence the manager can focus on productive tasks.

Features and Benefits of Payroll

Features

Besides the obvious features like processing the payroll and calculation of salaries of the employees, a payroll software offers many more features. Here are some essential features of a payroll software:

  • Loan Management

 

Different types of loans given to employees can be managed through a payroll software. Interest calculation and EMI calculation are also automated. One can get month-wise breakup reports and installment deduction reports. Perks calculations are also automated with payroll software.

  • Income Tax Management
spine income tax management

We all wish income tax calculation and management was as simple as it sounds. But in reality, calculation is a hassle. But you do not need to worry, payroll makes calculation and management of income tax easier. It calculates past emoluments and stores projected investment declared by the employee. TDS for the current month is automatically transferred/deducted from the employees’ salaries.

  • Reimbursement Management

 Reimbursement is the amount that the employee will get only after they have spent it. A payroll management software has many pre-defined reimbursement types like medical, travel, fuel, etc. Users can set limits with fixed or monthly incremental valves. It also generates detailed ledgers on payment history & voucher submission while being directly integrated with the tax module.

  • Report Writer

The Report Writer Tool helps you design and write various MIS reports as well as statutory reports like reports on promotions, transfer, increment, gratuity, PF and much more.

  • Leave Management (Integration with Attendance)

The Leave Manager helps the user manage different types of leaves and automatically generates leave history reports which includes leaves lapsed and balanced leaves. The user can set up monthly and annual leave eligibility.

The following are some benefits that implementation of a payroll software provides to an organization:

  • Reduction of costly human errors
  • Saving calculation time
  • Maintaining transparency with employees
  • Cost effective
  • Better Management of employees
  • Control expenses and reduce manual pay slips
  • Easy and automated tax calculations and payment
  • Quick arrear calculations
  • Integration with attendance for automated salary calculation

How does Payroll work?

The process of setting up and working of a payroll software is made relatively simpler by solution providers than before, This is because a major chunk of the industry has opted to use HRMS and Payroll software. Listed below is the classification of types of information that is to be fed into the system while using a payroll software.

1) One-Time Inputs

This is the type of data you need to input just once at the time of implementation of the system:

– Employee master

– Salary Structure/Breakdown

– Attendance/Leave Structure

2) Recurring Inputs

The following is the type of data you will need to input on a regular basis to keep the system updated:

– New Joinee(s)

– Arrears

– Incentives & Bonuses

– Loans & Advances

3) Full & Final Settlement

A Full and Final Settlement is only to be made when an employee leaves or retires from the company. A Full and Final Settlement includes documentation, deductions, arrears, receivables, pending salary, earnings and exit interviews.

The Following are the steps involved in the payroll process:

a) Entering employee information

An employee master is to be created by entering employee information in the system. This information is utilized in personalizing the interface and processing of salary.

b) Choose a user-defined payroll breakdown

A breakdown of your salary policy is to be entered to create a user-defined payroll including taxation policies, PF, any other arrears, etc.

c) Salary Disbursement

At the end of the month or the period specified by the user, the salary is automatically disbursed after calculating and processing all the deductions and/or additions. The salary is directly transferred to the employee’s bank A/C.

d) Payslip Disbursement

After disbursement of salary, payslips are processed and sent to employees. This helps the employee know the breakdown of their salary and the employer by maintaining transparency which is beneficial for the organization as a whole.

To summarise:

Payroll is a fundamental process for any kind of organization and implementation of a payroll software makes it far less tedious and more efficient. Now that you are aware of what is a payroll software and how does it work, you might consider getting a payroll system for your organization, Spine HR Suite offers Payroll with all the above mentioned features and benefits and on top of that, it is completely modular which means you can start out with just payroll and then add on other modules of HRMS like Time and Attendance, Employee Self Service, Performance Management System, etc.

 

28Nov
Spine Payroll

What is a payroll software and all you need to know about it!

Spine TechSpine Blogs

 What is a payroll software and all you need to know about it!

Payroll Software is the future of payroll processing, but do you know enough about it?

Spine Payroll

We’re sure you would’ve heard about payroll at least once, but have you ever wondered what exactly is a payroll software, what are its benefits and how does it work? Keep on reading to know all you need to know about payroll.

What is payroll software?

Simply put, Payroll is the process of paying salary to a company’s employees. A Payroll software automates the process of calculation and salary disbursement. Different departments like HR and Finance need to come together to calculate payroll the traditional way. But with payroll software, the processes are automated and hence the manager can focus on productive tasks.

Features and Benefits of Payroll

Besides the obvious features like processing the payroll and calculation of salaries of the employees, a payroll software offers many more features. Here are some essential features of a payroll software:

  • Loan Management

spine loan management

Different types of loans given to employees can be managed through a payroll software. Interest calculation and EMI calculation are also automated. One can get month-wise breakup reports and installment deduction reports. Perks calculations are also automated with payroll software.

  • Income Tax Management

spine income tax management

We all wish income tax calculation and management was as simple as it sounds. But in reality, calculation is a hassle. But you do not need to worry, payroll makes calculation and management of income tax easier. It calculates past emoluments and stores projected investment declared by the employee. TDS for the current month is automatically transferred/deducted from the employees’ salaries.

  • Reimbursement Management

 Reimbursement is the amount that the employee will get only after they have spent it. A payroll management software has many pre-defined reimbursement types like medical, travel, fuel, etc. Users can set limits with fixed or monthly incremental valves. It also generates detailed ledgers on payment history & voucher submission while being directly integrated with the tax module.

  • Report Writer

The Report Writer Tool helps you design and write various MIS reports as well as statutory reports like reports on promotions, transfer, increment, gratuity, PF and much more.

  • Leave Management (Integration with Attendance)

spine leave management

The Leave Manager helps the user manage different types of leaves and automatically generates leave history reports which includes leaves lapsed and balanced leaves. The user can set up monthly and annual leave eligibility.

The following are some benefits that implementation of a payroll software provides to an organization:

  • Reduction of costly human errors
  • Saving calculation time
  • Maintaining transparency with employees
  • Cost effective
  • Better Management of employees
  • Control expenses and reduce manual pay slips
  • Easy and automated tax calculations and payment
  • Quick arrear calculations
  • Integration with attendance for automated salary calculation

 How does Payroll work?

The process of setting up and working of a payroll software is made relatively simpler by solution providers than before, This is because a major chunk of the industry has opted to use HRMS and Payroll software. Listed below is the classification of types of information that is to be fed into the system while using a payroll software.

1) One-Time Inputs

This is the type of data you need to input just once at the time of implementation of the system:

– Employee master

– Salary Structure/Breakdown

– Attendance/Leave Structure

2) Recurring Inputs

The following is the type of data you will need to input on a regular basis to keep the system updated:

– New Joinee(s)

– Arrears

– Incentives & Bonuses

– Loans & Advances

3) Full & Final Settlement

A Full and Final Settlement is only to be made when an employee leaves or retires from the company. A Full and Final Settlement includes documentation, deductions, arrears, receivables, pending salary, earnings and exit interviews.

The Following are the steps involved in the payroll process:

spine payroll process

a) Entering employee information

An employee master is to be created by entering employee information in the system. This information is utilized in personalizing the interface and processing of salary.

b) Choose a user-defined payroll breakdown

A breakdown of your salary policy is to be entered to create a user-defined payroll including taxation policies, PF, any other arrears, etc.

c) Salary Disbursement

At the end of the month or the period specified by the user, the salary is automatically disbursed after calculating and processing all the deductions and/or additions. The salary is directly transferred to the employee’s bank A/C.

d) Payslip Disbursement

After disbursement of salary, payslips are processed and sent to employees. This helps the employee know the breakdown of their salary and the employer by maintaining transparency which is beneficial for the organization as a whole.

To conclude:

Payroll is a fundamental process for any kind of organization and implementation of a payroll software makes it far less tedious and more efficient. Now that you are aware of what is a payroll software and how does it work, you might consider getting a payroll system for your organization, Spine HR Suite offers Payroll with all the above mentioned features and benefits and on top of that, it is completely modular which means you can start out with just payroll and then add on other modules of HRMS like Time and Attendance, Employee Self Service, Performance Management System, etc.