How does HR Technology Impact Small and Medium Size Business?

Inducing technology in the existing system involves cost, as well as time, and therefore, often, small and mid-sized businesses are reluctant to accept it. But, as technology is the way forward, sooner or later, businesses won’t have an option, but to deploy it to simplify and expedite routine tasks.

HR technology, which may initially incur some costs, is a a smart and futuristic initiative that will help small and mid-sized business owners to accelerate the pace of the routine administrative tasks such as leave and attendance management, payroll, and others. This blog sketches the impact that Eilisys HR management software, with its functionalities, can impact small and mid-sized businesses.

Functionalities of Eilisys HR Management Software

Leave and attendance, along with payroll management software constitute the most important elements of Eilisys HR management software.

Hence, at the outset, take a look at the functionalities of Eilisys leave and attendance management software.

à Shift Management

ü  Prepare shift schedules for the team, well integrated with the existing workflow-based approval processes.

ü  Configurable template for an exclusive shift pattern.

à Automated, Accelerated and Real-Time Employee Attendance Time Tracking

ü  Automate employee daily attendance management

ü  Online shift scheduling and change management.

ü  Live and automated employee time tracking.

ü  Automate leave and attendance status emails to an employee at the end of the month.

à Extra Time Management

ü  Configurable compensation based on overtime, late working, etc.

ü  Prevent revenue leakage through overtime posting based on the pre-approved overtime plan.

ü  Customize calculation rules based on the type of day such as public holiday, normal working day, etc.

à Compliance Management

ü  Manage form20, overtime, leave a card, muster roll, adult register, and many others as and when needed.

ü  100% Compliance with labor laws.

à Exception Handling

ü  Integration of attendance exceptions such as early out, late in, absenteeism missed punch in, shift variations, etc.

ü  Email notifications to employees and managers for proposed leave or salary deductions.

ü  Exception regularization management through the on-duty punching regularization application.

ü  Configuration of deduction policies for attendance exception as per the number of occurrences during the entire month or the actual minutes.

à Comprehensive and Analytical Reports

ü  Generate more than 30 departmental reports in multiple formats including PDF, Excel, HTML, etc. and design your own customized reporting tool.

Eilisys HR management software is easy to integrate with the existing HR systems, thus simplifying the otherwise complex and time-consuming task if systems integration, and avoiding data loss, and concerns alike.

Functionalities of Eilisys Payroll Management Software

Let us now proceed to look at the functionalities of Eilisys payroll management software.

à Automatic TDS calculation

à Customize dimensions for salary JV

à Easy to integrate with the existing ERP and the financial accounting software

à Calculating arrears and regularizing leaves

à Parameter driven salary JV and income tax calculation

à Maintaining a comprehensive employee job history.

à Automating bank upload file or NEFT file in the banker’s format.

à Loan and advance tracking

à Manage attendance management, salary revisions, investment declarations, etc.

à Generating various types of professional statements such as tax statement, ESIC form 6, provident fund reconciliation statement, ESIC statement and online challan, etc.

à Report generation in multiple formats based on the departmental requirement.

Impact of Eilisys HR Management Software on Small and Mid-Sized Businesses

By now, you must have pretty much figured out how embracing HR technology can impact small and mid-sized businesses. Of course, simplifying various administrative functions are one thing, but what drives HR administrators and business owners towards technology are the long-running the impact that the system has over the entire department, and the organization in entirety.

à Operational accuracy and efficiency

à Compliance towards the organizational leave policy

à Compliance towards the government rules and regulations

à Cost-savings through the automation of a lot of manually intervened functions.

à Saves time and efforts that can be further utilized to focus on the strategic and process improvement aspect of the department.

à Retains employee and stakeholders’ trust.