Payroll processing is one of the most complicated tasks for each and every business. Processing payroll manually, the ever-changing regulations, data security troubles, and many more reasons contribute to the flaws in the Indian payroll system.
- Over 57% of businesses in India still rely on paper or spreadsheet-based payroll management and processing
- Based on a study, about 37% of payroll errors occur due to manual data entry
- Manual payroll errors occur almost twice as often with in-house solutions as opposed to third-party solutions, at 11.4% and 6.1% respectively
- Nearly 1 in 5 employees who process payroll manually spend a considerable amount of their day with data entry
A major overhaul of the payroll system is definitely needed to put these problems away. And, payroll automation is key to solving all problems.
What’s inside the Ebook
Problems with payroll processing
Apart from manual errors and compliance miscalculations, businesses tend to spend a lot of time on payroll computations. They use old, outdated tools or outsource payroll to an agency, resulting in little/no visibility in terms of how payroll is calculated.
Learn how to identify problems and tackle them before they spiral out of control.
Evolving needs of Indian businesses
No business remains the exact same way throughout its course. Market conditions, the ever-evolving tech, growing consumerism, and other conditions often push organisations to incorporate change.
Understand how these changes can impact payroll.
Many organisations are under the impression that they have to spend a lot of time and resources to move their manual payroll process to an automated one.
Although a little groundwork is necessary, we’ve talked about the steps you need to go through to move to an automated payroll software.
Payroll impacts various stakeholders in a business, from HR professionals and founders, all the way to the employees.
Learn how payroll automation can bring your time spent to 10 minutes every month.