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Why do you need a payroll software?

HR Technology
Published on: Feb 24, 2020

One of the commonly agreed idea for making your business run smoothly is to make use of technological tools to automate common business tasks.

One of the commonly agreed idea for making your business run smoothly is to make use of technological tools to automate common business tasks.

Managing Payroll of your business in one of the most critical yet time consuming activity. Thankfully, it is also quite easy to automate, given the right tools.

If you are using spreadsheets to manage your payroll, you are exposing your business to huge risks including:

  1. Risk of errors due to manual entry, formula copy-paste errors
  2. Risk of data leakage as excel file can be easily copied or mailed with all employee information including salary details
  3. Risk of compromising employee privacy by storing sensitive information like date of birth, address, phone, email etc. in unsafe manner

Apart from the risks above, you are also missing out on greater features that a payroll software can offer like:

  1. Analyzing salary data over a period of time,
  2. Ascertaining employee profile/promotion ageing,
  3. Storing employee data at one place for quick retrieval,
  4. Multiple users with differential rights to manage payroll

Typically, a payroll software gives you multiple benefits including:

  1. Timely disbursement of salary every month
  2. Accuracy in calculations which otherwise becomes complicated to adjust in case of errors
  3. Easy compliance to statutory laws like ESI, PF, Professional Tax, Income tax and more
  4. Greater employee satisfaction with increased transparency in processing

Given the above facts, it is needless to say that you should consider switching to a payroll software as soon as possible. It is also understandable that in early days of setting up a business, when your employee strength is low (below 10), it is easier to manage using a spreadsheet. However, switching to a software is never too early when you have bigger plans for future.

We, at Runtime Software, understand the critical business needs and design solutions to automate day to day business tasks.  One of our popular business solutions is Runtime Payroll.

Runtime Payroll is designed keeping in mind a regular business user who need a solution that just works and does not require too much technical knowledge to run. Using Runtime Payroll, you can generate payroll every month with just a few clicks. Really, its that easy!

Common features supported by Runtime Payroll are:

  1. Custom salary components
  2. Custom deductions
  3. Attendance machine integration (almost all formats including csv, txt, mdb and excel)
  4. Time based salary with customisable rules for early coming and late going (overtime etc)
  5. Employee loans and advances management
  6. Compliance to statutory laws including ESI, PF, Professional Tax, Income Tax etc.
  7. Salary register in one click
  8. Salary slips for employees
  9. And much more…

Runtime Payroll is a lightweight desktop software built for windows and you do not need to install any other software to run it. The whole setup takes under one minute to finish.

What more? We offer free trial of 7-day with no advance payment or credit card information.

Try the best payroll software for free today!

About the Author
Celia, Virtual Assistant

Celia, Virtual Assistant

Celia is an artificial assistant built by Runtime HRMS based on large language model.