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Payroll Management ERP - Overview
Human Resource is the most fundamental resource for any organization. It is responsible for each and every decision taken, each and every work done and each and every result. Employees should be managed properly and motivated by providing best remuneration and compensation as per the industry standards. Payroll processing is the backbone of an organization's employee operational and satisfaction focus.
Payroll is defined as a method of administrating employees' salaries in the organizations. The process consists of calculation of salaries and tax deductions of the employees, administrating the retirement benefits and disbursements of salaries to employees. It can also be called as an accounts activity which undertakes the salary administration of employees in the organization. Administrating the employees' salaries is not a simple task, the HR and accounts department work together to calculate and give out the salary to the employees. Thus, payroll management can be further subdivided into two sub processes, i.e. Payroll accounting and payroll administration.
No matters to whatever companies you belong to, whether a one-person company or a several thousand-person company, time is an issue. Signalprime Payroll Management ERP guarantees you to save time by reducing the hours spent producing payroll information and preparing payroll registers, quarterly, and year to date payroll reports. With the growing market hold, Signalprime Payroll Management ERP has become a value for money choice for a wide range of the market. The product is intelligent and efficient to be able to process a few hundreds to multi thousands of employees' records.
Payroll accounting in Signalprime Payroll Management ERP, involves calculations of employees' salaries and tax deductions. It also undertakes the activities such as preparation of tax returns, maintaining the payroll records, etc.
Payroll Administration in Profmax Payroll Management ERP, involves managerial activities such as maintaining employees' records, referring employment laws. Here, the HR comes into picture which maintains the daily record if employees attendance.
Profmax Payroll Management ERP solution stores complete details and records of the employees related to their salary, Generates Pay-slips, Computes all allowances and deductions, Manages salary adjustments, bonus and arrears, Calculates and records overtime, Manages Provident Funds and Gratuity and generates all sorts of MIS reports.
Features & Benefits
Operational and HR managers often lack accurate and timely information to make informed personnel decisions. Through the use of Signalprime Payroll Management ERP with integrated suit of Signalprime Human Resource Management (HRM) solution, organizations can aggregate and view employee data in one location - regardless of where the data resides. This can enable managers to simplify tasks, reduce paperwork, optimize workflows, and make better and faster decisions.
Signalprime Payroll Management ERP can handle complex payroll processes in compliance with current legal regulations in multiple countries. Predefined reports can help you address various legal and compliance issues, increase the visibility and transparency of your HR processes, and simplify overall management of compliance-related concerns.
Signalprime provides the foundation for process excellence on one, consistent platform. By enabling real-time data, global reach, and integration within and outside of HR systems, Profmax can help you improve collaboration and efficiency across your entire organization.
Signalprime Payroll Management ERP with integrated Human Capital Management (HCM) and Talent Management solution enables you to:
Standardize and automate local and global HR processes to increase efficiency
Manage an increasingly global, diverse workforce
Reduce the time and costs associated with HR administration, while setting the stage for talent management processes and future innovation
Increase visibility and transparency into your HR processes
Increase compliance with ever-changing legal regulations