Biometric Data Tracking Made Easy With Cloud HR Software

Cloud computing seems to be making a lot of noise these days. Though at first, it might sound a tricky concept for you to embrace, once you learn all the ins-and-outs of cloud technology, you are sure to become the next cloud evangelist.

Of all the cloud-powered solutions and applications, cloud-based HCM software is one such solution that is ruling the charts nowadays and is the talk of the town for many businesses. Yes, a cloud-based attendance and time software offers a number of convincing benefits.

Cloud-based biometric time attendance system saves HR personnel from the nightmares of manual timesheet tracking and management. This helps to eliminate payroll redundancies and inaccuracies, as the system automates the entire process.

Instant access to real-time data

Cloud-based HCM software supports excellent integration with all the biometric machines used today in organizations enabling timely and accurate tracking of attendance. Thus, HR department gets real-time attendance data at their desk with just a few clicks.

Cloud-based biometric attendance system serves as the standalone and apt alternative for traditional tools and practices when it comes to attendance management and time tracking. As it automates biometric time tracking process, you get error-free data tracked through a biometric machine. No more erroneous paycheck.

Unified data hub

For organizations that have a good number of employees reporting in from remote locations, it certainly becomes a trouble when it comes to keeping a track of time and attendance of its remote staff. Cloud-based biometric time attendance system addresses this problem in a diligent and smart way, as it offers centralized data hub. So keeping a tab on time and attendance data from remote locations is not a dilemma anymore for HR personnel.

Intelligent reporting

Cloud-based HR software sends emails and text messages to its users of the HR department on a regular basis when employees clock in and clock out, request for leaves, work from home, etc. This simplifies the process of retrieving and maintaining timesheets and attendance reports for HR personnel further leading to error-free payroll processing.

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Key Advantages of Using Payroll Software

Many companies are realizing the advantages in utilizing effective payroll software; it is efficient, accurate and provides good value-for-money. However there are also a range of benefits that venture beyond that, such as time recording.

Payroll systems can incorporate time-sheets, making hard copies a thing of the past. Hard copies can be unreliable, easily lost and are sometimes forgotten by employees. Payroll software can provide an efficient payroll solution in recording the time and attendance records of each individual staff member; which are then transferred into an automated payroll system, meaning they are paid accurately and on time each week, fortnight or month.

The reporting functionality of payroll software also deserves a mention, as it can provide an in-depth analysis of each employee; such as the costs of keeping them on, and their contribution in terms of hours to the company. It helps to justify having the staff member, and also helps to monitor the productivity of the company as a whole.

Additionally, keeping other personal data for each employee - such as their holiday allowance and how much they have taken, as well as sick days - is vital to a business. Payroll software can do this for you with ease, providing automated, individual reports for each staff member. This allows you to keep track of their sick leave, and be sure that no employee accidentally books any leave over their allocated time.

Lastly, the forecasting functions of payroll software can allow you to predict future spend on staff; allowing you to budget more effectively. It can also help you to ascertain how much more investment you would need in order to take on more employees, or how the company would benefit if it let go of a staff member. This sort of forecasting is invaluable, and makes the ROI on payroll software all that much more significant.

The Need of Global Payroll Software System

The modern businesses need highly developed and integrated HR and Payroll software systems as they tend to hire employees from different jurisdictions. Nowadays, hiring employees from the global talent pool and letting them work-from-home or from the remote locations is a cost-effective practice for the businesses. However, it adds to the complexity of their payroll processing. It demands a clear-cut understanding of the task from its HR and Finance staff.

Integrated Payroll System:

Implementing a global payroll software, like Payroll System by SBS Consulting, is a great challenge for the companies, whether they are trying to add more teeth to its existing payroll software or building a new payroll management system from the scratch. There are too many variables to accommodate like pay type, pay cycle, pay frequency, type of employees, payroll policies, compensation type, etc., to consider and care for.

It is important to take a review of the existing payroll software and processing steps involved to assess the improvements needed to attain the future payroll goals of the business. It assists the businesses in minimizing the statutory compliance related risks.

Tax Compliance Through Payroll Software:

Different countries have different rules and regulations regarding tax policies which creates difficulties while calculating the remuneration of the remotely located employees of the company. Using a payroll software that do not have the required functionality can lead to an unintentional breach of the law. It can attract penalties and fines and affect the market image and the brand name of the business.

Ensuring Quality of Employee Demographic and Payroll Data:

The new HR and Payroll management system to be developed or installed must be able to handle the employee details like, employee name, address, job details, bank accounts, etc. It must also be able to handle the employee grades, allowances, benefits, incentive, bonuses, deductions of statutory contributions, leave, local tax filing, etc., in order to ensure satisfactory compliance over all the necessary jurisdictions.

The businesses on their part must also ensure the quality and the depth of the employee demographic data to suit the rules and the legislation of the different countries. The clearly defined, accurate and readily accessible data is a must for the speedy progress of the project. It will lend for the smooth transition from the existing system to the new management system. It will also reduce the risks of errors in the businesses processing.

It is also important to assess the potency of the existing policies, consistencies, inconsistencies, and the volume of the business' payroll requirements. The task is difficult and complex and the businesses need to dedicate a team of qualified and experienced professionals to it.