Payroll Software and the Impact on HR Departments
Paying employees is a routine task in every organization; however, payroll processing remains challenging for businesses, HR managers, and employees to complete. The volume of variables in calculating payroll correctly plus staying up to date on the ever-changing tax rules are some of the main challenges in managing payroll.
SutiHR payroll solution can help address specific payroll challenges. We know traditional processes will not work to accommodate the needs of changing payroll landscapes. SutiHR is built in the cloud can help solve those everyday problem.
Agile approach to traditional payroll challenges
Most businesses have a payroll process already in place, but the current system does not provide them the ability to scale up in the future. To help businesses in every aspect – everything from onboarding to payroll, SutiHR has come up with an effective payroll management software solution.
Most teams who work remotely are also managed remotely. Moreover, government norms and policies are revised frequently, and the solution you choose should be flexible enough to handle those fast-paced changes. With traditional solutions, these changes become difficult to manage and would result in lengthy delays. SutiHR payroll software can solve payroll challenges while allowing continuous innovation and privacy.
SutiHR payroll software ensures the systems are well-equipped with the latest technologies while also supporting easy payments with direct bank integrations and facilitates collaboration between employees and employers.
Businesses need to process timely and accurate payroll data while continually abiding with legal compliance. SutiHR payroll solution ensures complete security for sensitive employee data. Companies can easily continue doing payroll operations without any errors or possible threats.
Payroll data can help businesses make more informed decisions. SutiHR payroll provides real-time insight into overall costs, liabilities and makes life easy for employers. The ability to easily collaborate between the HR, payroll, finance, and other departments helps make improved business decisions.
Payroll can be complicated; if employers fail to stay compliant they will face major consequences. Technology can help any organization with this aspect.
Workforce management professionals can utilize technology solutions to address these complicated payroll challenges.
Compliance challenges come in many different forms. The federal unemployment tax act poses complications for employers, to simplify and accurately compute their FUTA liability.
Further, flexible work arrangements may have tax complexities to employers who must figure out when and where taxes are withheld from their employees. However, the company ensures that they have an effective system in place that considers state and local laws.
Payroll software enables employers to effectively manage their taxes by allowing them to input all the tax laws and regulations into the system. Therefore, managers no longer need to worry about the laws for that specific year.
Taking federal, state, and local laws into consideration
Sets of laws and regulations can be overwhelming to follow as they continually change. Some agencies are affecting workplace decisions on everything, from payroll to healthcare to time-off. Managers may have many tasks other than payroll to complete, like creating work schedules and calculating wage costs. While they are busy with dealing with these daily tasks, they also have many legal rules to follow and adhere to.
Payroll management software can handle the difficult pieces of the process, knowing which different laws and regulations are in place is easier than ever. Enabling your workforce management professionals to focus on other jobs and other productive tasks instead of getting bogged down by compliance issues.
Empowering both employers and employees
SutiHR payroll is cloud-based and allows employees to access payroll data from anywhere, any time.
SutiHR payroll solution helps businesses in these main ways:
- Automate salary calculations and ensures compliance
- Manage statutory components such as PF, ESI, LWF, and PT
- Digitize all payroll activities
- Improve collaboration between each department
The employee self-service portal enables employees to easily view their paystub, manage tax claims, raise reimbursement requests, and more. With so many benefits, leveraging payroll software can help businesses get their job done quickly.