Choosing the best HR & Payroll Software in 2022

Investing in an HR system is one of the most significant steps that a company takes to automate processes linked to satisfaction of human capital. Good, well-structured HR software helps businesses to automate various operations like recruiting, on-boarding, training, payroll, attendance, performance management, and succession. 

 Before choosing the right kind of HR management software for an organization, make sure that the HR software tackles tasks in an efficient, systematic fashion which can be configured according to the requirement of the organization, now that these are performed in a paperless manner. HR software is essentially a conglomeration of numerous modules, each of which is tailored to a certain HR function. 

 It eases the HR department's record-keeping, computing, and communication functions which often tend to take up so much time. Turning to HR software, frees the HR and allows them to focus more on strategic initiatives, such as culture and employee welfare, that tends to set apart an organization from the crowd. This partial automation of manual, monotonous tasks has the potential to lower labour costs, streamline HR processes, and improve efficiency.

 One of the most important modules in HR software is Payroll Management. The most coherent HR management software must have the provision of processing payroll as it is a crucial function carried out by HR department. There are many challenges one has to go through to conduct this process in a hassle-free manner. A company maybe using Google sheets and Excel to record their data, and bring it all together while the salary is being computed but it may take a long time to streamline it manually. Adding and removing salary heads, tax deduction, and various other calculations are taken care of with a Payroll manager. Also, issues of no proper backup may pop up, or cross-referencing of cells in Excel is possible. In such a case, cloud HR software solution which offers Payroll processing a boon. 

 Sometimes, HR counter the problem of changes in salary at the last moment when it is about to be dispersed by the company to its employees. These, last-minute changes can be efficiently managed and included by the system with just a few clicks without having to conduct the process from the beginning. 

 The payroll process is a time-consuming and tedious process for almost all businesses, ripe for costly errors and fines. Prodigious offers organizations to relieve their HR administrators of performing the task of calculating tax, deductions, and other financial aspects of their employees' support. Some of the features offered by Prodigious to counter issues of payroll are as follows:

 1. Easy Payroll Processing 

 Prodigious allows the user to process a complex function like Payroll with a few clicks through the user Dashboard itself so that it doesn't take days to carry out this tiresome task. 

 2. Complex Salary Structure

 Different organizations have different salary structures. Hence, it can be configured to tackle any kind of complexity in salary structures. 

 3. Unlimited Salary Components 

 It can create any number of salary components as per business needs.

 4. Process Increments with Salary

 The user may twist the system to process increments automatically along with salary. 

 5. Process Arrears with Salary

 Arrears can be included and calculated along with the salary of an employee if required by the organisation. 

 6. Process Arrears Separately

 It is not imperative to add the arrear calculation alongside the salary being dispersed to the employees. Hence, Prodigious also supports separate arrear calculation and dispersion. 

 7. One Time Payments and Deductions

 One time payments or deductions are supported as any firm must move in an organized fashion

 8. Bank Transfer Report

 The bank statement can be generated from the system post the dispersion and distribution of salary.  

 9. Loan & Advances Deductions 

 Loans and Advances can be deducted from salary.

 10. Payroll Reconciliation 

 Prodigious promotes practices such as transparency, so, all the data related to the payroll is granular and open. 

 11. Calculate Leave without Pay (LWP)

 LWP can also be adjusted in Salary if required by the company.

 12. Block or Hold Salary 

 The salary of some employees can be kept on Hold if needed.

 13. Perk Management 

 Multiple Perks provided by an organization to employee/s for their good performance can be managed. 

 14. Fund Management 

  Multiple Funds can be configured.

 15. Employee State Insurance (ESI)

 ESI can also be configured through the system software. 

 16. Provident Funds (PF)

 PF configuration and calculation are offered by Prodigious.

 17. Customised Salary Reports

 Salary reports as per the needs of the company can be customized.