Companies lose an average of 5% of revenue annually due to payroll process inefficiencies, errors and fraud. Out of this 5%, 99% of the errors are due to poor employee workforce administration.
Despite being an important aspect of a company’s payroll, workforce administration does not get the kind of attention it should.
Have you ever seen how payroll gets manually managed in a company? There are always these 2-3 hapless, doleful looking payroll personnel who are constantly chased by the HR team, by the finance/accounts team to check data accuracy and by the employees who have salary related queries. To see their faces light up – when they come on to a cloud based payroll solution that literally halves their time spent, is a sight worth seeing.
Compensation management is one of the trickiest processes to oversee for any enterprise, because any errors will impact the direct payout to the employee, and the last thing that companies want is – angry employees.
At PeopleStrong, we help you gain maximum traction from your compensation workflow by automating it and assimilating it with all related processes.
Alt Payroll makes compensation and payroll management as simple as a flick on a mobile. Be it easy data access and verification, compliance readiness, single click processing or access to 500+ pre-formatted configured reports, the product has it all. Not just that, you can access it anytime, anywhere.
Know more about PeopleStrong Alt Payroll
To find out how PeopleStrong Alt Payroll can help your organisation, Contact us
As part of an organizational chart, HR looks like a formidable function- the immense task of linking people with processes and protocol is not an easy one. But in reality, HR systems sometimes work in independent silos, detached from core business and employee needs. This causes a lot of needless delays in paperwork, payroll processing etc.
Is your payroll software like an unwieldy piece of furniture- not the most comfortable to use but too heavy to move? Or is it a huge liability to your business?
You cannot hope to run a business successfully if your payroll is riddled with holes. It is what keeps the employees working and the business humming along.
Have you ever imagined a system processing your monthly payroll in a single click?
You don’t have to take the pain to update statutory compliance norms every month when your payroll system can do it automatically, at the same time you get more than 500 payroll related reports right on your system anywhere, anytime.
One might be forgiven to think that payroll teams have the most monotonous or clerical jobs, spending most of their time manually updating all the payroll related details, recording employee bank account and PAN details, keeping track of investment details and proofs provided by employees, configuring CTC based on grade, month and department, sending pay slips and form 16s to all employees etc., but the reality is that there are larger complexities and risks to HR and Payroll than what meet the eye.