What are the Key Offerings in Cloud-Based HR Software for Indian SMEs?

Indian market is witnessing fast-paced growth with industries are exhibiting tremendous progress. The rapid technological advancements have changed the entire job profiles across the industries, and the dynamic situations demand better employee-oriented policies and hiring larger workforces than the past has resulted in setbacks in the employer-employee scenario. We shall have a quick look at some of the most beneficial offerings of SaaS-based HR Software to help you end the stagnancy in the HR department.

With the majority of Indian businesses sticking to the age-old Spreadsheet tools, the possibility of faulty Payroll Processing can’t be denied. The reason behind this is that the HR executives require to fetch multiple payroll inputs from physical documents such as attendance and leave registers, travel and expense files along with performance reports to be processed on an individual basis making the entire process tedious and complicated to be processed on a monthly, quarterly and yearly basis. A Spreadsheet is never feasible for such processing as compiling data in multiple spreadsheets in order to calculate salaries separately for each staff member is hefty and disbursement through various channels adds to the complexity. The cloud-based HR Software solutions help streamline all the above-mentioned cluster of tasks by integrating modules of the System. The data accumulated over a period of years is stored on a centralized database on a real-time basis and processed to make proper calculations for the Payroll without any error. This is widely sought by India Inc as calculating salaries of employees of different cadres, locations and shifts is a herculean task in a timely and accurate manner make business simple.

The employees are facing the need to operate from multiple locations which require them to use the HR services from their own devices. This is facilitated by the modern HR Software with ESS Portals. The staff can manage their timesheets,  claim their travel expenses, empowering HR and approving managers to process their subordinates’ applications with the convenience of place and time through mobile ESS and MSS applications. Every business is operative in a different domain and its employees have a unique set of specific requirements. Thus an HR Software is designed to be able to provide a tailored approach to assist organizations by making the UI intuitive. They provide a customized user interface for all of the employees enabling them to view only the functionalities meant for them.

Most of the businesses are demanding reports with deep analytical insights for decision making including the HR departments. Compiling such reports for analytical purposes on daily purposes is a very effective functionality garnered by the SaaS-based HR Software as the real-time inputs are available on the cloud server to generate financial and non-financial reports from all the other modules of the HR system. Being over-the-cloud, they provide access to users from their own smart devices over the internet connection. The employees can submit applications for making changes for regularizing attendance data, track the live status of their applications using the ESS Portal. Moreover, accessing the system from multiple locations at any time also offers agile responsiveness as manually acquiring data and then processing it locally requires a lot of unnecessary resources. All the data fetching exercises take place from local offices and the data is available for being processed by the central facility, protected by encryption.

The companies are suffering from the employee turnover with the employee life-cycles reduced drastically and newer forms of employment like the gig economy and freelancing taking over. An HR and Payroll Software helps to contain these new employment terms without requiring you to consult the accountants frequently with heavy fees. The employee efficiency is a major concern addressed by performance management system with integrated Performance Management System and Payroll Module. The remuneration directly linked with the performance of the employee creates a healthy environment and promote fair practices.

Thus the Payroll Software can be a versatile solution for addressing the needs of the Indian market and especially the SMEs. Most of the MNCs have introduced cloud solutions for the HR department. Deciding whether which software to buy can be tricky, but make it a point to discuss the degree of configuration as every organization has specific organizational needs to be addressed.
Source: https://factohr.com/performance-management-software/