In a world where businesses are constantly evolving, it’s surprising to learn that a whopping 77% of enterprises are still grappling with the fundamental problem of delayed salaries. To make matters worse, 42% of these companies also deal with compliance issues. Source: Payroll Maturity Index 2023
The heart of most payroll issues lie in the absence of true automation.
Some of the other key challenges enterprises face with respect to running payroll is the risk of committing errors. Such as getting audit flags, struggling to comply with regulations and spending unnecessary time on arduous tasks.
RazorpayX Payroll for Enterprise brings forth its exclusive technology of automated compliance to large-size businesses along with newly built advanced systems for integrations and customizations. Having already served over 10,000 startups and SMEs, this new launch marks a significant expansion of RazorpayX Payroll’s capabilities, now catering to businesses of all sizes, ranging from teams of 2 to mammoth workforces exceeding 20,000+ employees.
Let’s look at a few key offerings:
- Universal HRMS
With open APIs and integrations with 45+ HRMS partners, RazorpayX Payroll integrates seamlessly with all popular HRMS software with Universal HRMS. This powers auto data synchronization, and streamlined workflows that provide unparalleled flexibility to clients. Noteworthy integrations include the likes of DarwinBox, SAP SuccessFactors, Oracle HCM, PeopleStrong, Keka and more. - Bonus Management
A bonus is a one-time payment to an employee given outside of an employee’s total salary. However, unlike other one-time payments, bonuses must be minutely tracked for clawback. With RazorpayX Payroll, enterprises can provide bonuses, set clawbacks, edit and delete bonuses for your employees right on the dashboard.
- Loans and Advances
For a good employee experience, enterprises often offer loans and advances. With RazorpayX Payroll, you can effortlessly handle employee loans, EMIs, and perquisites, offering various interest options on a dashboard for your employees. Please note that this feature is an extension of our salary advance module, and loans should be provided by your organization.
Payroll Maturity Index ‘23
RazorpayX Payroll is proud to present the Payroll Maturity Index 2023- an industry-first report offering invaluable insights into the state of payroll processes among India’s leading organizations. And it’s now available for you to explore!
Access the report to empower your HR team with actionable insights for enhancing business efficiency. Download the Payroll Maturity Index 2023.
RazorpayX Payroll for Enterprise brings forth a comprehensive solution to the challenges faced by businesses in managing payroll. With its advanced technology and customizable features, it aims to streamline the payroll process, reduce errors, and ensure compliance with regulations. Whether you are a small startup or a large enterprise, RazorpayX Payroll has something to offer to help you manage your payroll more efficiently.
