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HR Operations Through Cloud-Based HR Software

The HR department is one of the most important ones in any company and they ensure to leave minimum footprints on the organization. Most of the verticals have changed the way they function and changed the entire job profiles. The cloud computing has gained popularity around the globe and it is being used to power the HR technologies. There are numerous HR functions which can be simplified using cloud-based HR Software owing to the wide range of features offered. Dive in deeper into the article to know how it can streamline your HR department.

 Errorless Payroll Processing and Statutory Compliance:

 Payroll Processing is one of the most important and tedious tasks for any HR professional. The cloud-based HR Software integrates its various modules such as Attendance, Leave, Travel, and Expense, Performance Management, etc modules with the Payroll. This virtually reduces the errors to zero and all the data is collected and synchronized with the central database to be processed together. This reduces the need for manual data entry in various Spreadsheet tools or in dedicated legacy software along with a reduction in redundancy and duplication of work as minimum human intervention is required throughout the whole process. The statutory compliance is also automated by generating the PF Forms and ECR files etc. on monthly, quarterly and yearly basis along with maintaining their records to meet any audit trails or cost accounting exercise. The error-free Payroll and timely statutory compliance are very crucial as any shortcoming in these may entail legal prosecution or penalization. With the HR Software, you can feel confident without engaging the services of a lawyer or an accountant just for the sake of compliance.

 Accessibility, Configuration, and Integration for better productivity:

 The main advantage of an over-the-cloud HR Software is that it can be accessed by the users from the comfort of their own smart devices at any time without relying on the computers of their office. This can be very helpful for the last moment rush hours and provide convenience to employees to access the system whenever required. It also provides extensive configurable nature to contain the requirements of various sectors. The configuration also enhances the scalability which means that the software can become equally beneficial to SMEs as it is to the giant MNCs. This is achieved by the integration of various modules to simplify the processes. For instance, the HR Software can be directly linked with the accounting software and the JV files can be directly fed. The user can also integrate it with the bank to disburse salaries without any manual processing. Thus, a lot of human interaction is eliminated which helps curb the administrative overheads and saves time and effort which can be utilized in productive work. The SaaS-based software can be used from different locations which means that a company doesn’t need to pay extra for using their software from different offices.

Strategic Management and Reporting:

The rising awareness for proper decision making backed by facts and figures and not on sentiments. Thus the data can be stored on the cloud server can be used to create multiple reports covering everything from expense made on compensating employees to the employee behavior patterns, which can be used to aid in the strategic management process. These reports can be generated instantly, which relives senior personnel form relying on subordinates and worrying about getting comprehensive reports. 

The strategic management tasks such as talent acquisition can be streamlined by using this data as most employees tend to resign around the appraisal period. One of the most important advantages is that they also help in audits and in cost accounting, which has gained momentum in most of the businesses. The reports can also help to track employee performance throughout the year by eliminating favoritism and promote transparency. The mobile hrms system allows the employees to use ESS Portals for reporting and managing their information while HR and reporting managers can process their applications

Thus, a lot of counterproductive workloads are reduced, and HR can focus on their core functions. The competitive pricing makes SaaS models a perfect match for the cost-conscious Indian market keeping in mind the value offered.
Reference: https://factohr.com/hr-software/