July 12, 2024
Efficient cloud-based HR Software is turning crucial for strengthening workforce retention in both small and large enterprises. Employee recognition is helping many businesses escape the Great Resignation, which is one of the most critical consequences of global lockdown due to the COVID-19 pandemic.
For the most part, a profound salary or wage management allows growing businesses to ensure lucrative financials and drive greater productivity. ERP for HR software is embedded with adaptive technology to assist companies in ensuring employee job satisfaction and robust employee management across other verticals—all through a single instance.
Cloud-based HR Software Highlights
A Cloud Based HR System is an extensively engineered HRMS and Payroll solution that helps manage all functions across payroll and talent management. For instance, NAVDPayRoll is one such solution that is orchestrated on the core functionalities of cloud-based HR software and is scalable enough to manage the workforce and ensure retention. This inventive Payroll management solution can be procured by both the old and new customers of Dynamics NAV and Dynamics 365 Business Central to handle their HR and Payroll simultaneously.
Features of HR ERP Software
- HR Accounting and Management
- Employee Self-service
- Compensation Management
- Tax Calculation and Taxable Benefits
- Policy Management
- Travel Management
- Expense Management
- Leave and Absence Management
- Training Management
- Performance Reviews and Skill Management
- Standard Reporting
- HRMS on Mobile, and many more
ERP for HR software for Salary and Wage Management
Payroll’s most important part is an employee’s pay. Most organizations either pay their worker a month to monthly salary or a time-based wage. Salaried employees procure a decent sum for every payroll interval that organizations generally fix for throughout the months. Then again, breadwinners procure an hourly rate, and how much work can be lopsided.
By utilizing the fundamental capabilities of Cloud-based HR Software, HR or Payroll managers can show an employee’s paystub in various verticals. It assists a worker with getting a point-by-point conveyance of his salary and assists organizations with determining transparency at all levels. With this HR management software solution, you can ensure robust salary management and let your employees feel acknowledged for their commitment to the organization.
Gross pay
It stands for the aggregate sum you pay to a representative before taking away deductions. That multitude of employees with a non-taxable salary bar can have gross pay.
Employee Time
Generally, it refers to the number of hours an employee worked in a pay period. Most businesses need hourly employees to track time. Here, NAVDPayRoll Employee Self-Service can help you automate this and let employees check in their working hours without much hassle. Some salaried employees may also track time if they earn overtime pay.
Overtime Pay
The overtime pay rate is applicable to those hours a non–exempt employee works over 40 in a week. You can use another common term for overtime which is ‘time and a half’. Here, with the deployment of NAVDPayRoll, you can follow Indian Labor Rules and Regulations and set a limit for issuing overtime pay to your workforce. This way, your company remains compliant with the statutory requirements and can manage human resources in ERP as well.
Benefits and Reimbursements
Benefits can be referred to as the contributions a company might provide to its employees. The most common types of benefits include
- Health Insurance
- Retirement Plans
- Paid Leave
- Educational Reimbursements
Add-ons: Tips, Commissions, and Bonuses
Within a business organization, any service worker, sales personnel, or employee can be eligible for additional payment.
This may cover
- Tips
- Commissions earned on sales
- Bonuses
Tips are a unique type of additional pay and widely depend on a particular country’s or state’s minimum wage laws. Tips often contribute to an employee’s overall hourly pay or wages. However, an employee’s tips and pay must not go below the limit of minimum wages. With NAVDPayRoll, a cloud-based HR System, you can manage these extra payouts without a hitch.
Net Pay
The remaining amount is given to the employee after all deductions are called Net Pay. You can also call it ‘take-home pay.’ It is the amount an employee gets on his payday. Payroll managers can make the most of ERP for HR software to ensure the deductions are correct, and employees earn their part substantially.
How Can You Manage Human Resources in ERP?
HR ERP Software like NAVDPayRoll is a one-stop solution that lets you take a rest from payroll on your own. Like most payroll system software, it automatically updates when statutory requirements change. Additionally, it alerts employers at the right time to file certain tax forms. Many companies outsource payroll administration by connecting to an accredited and experienced Cloud Solution Provider, who can help ease the burden of salary and wages management.
As we know that Dynamics NAV is now closed off to new businesses; SMBs looking to deploy Microsoft’s Cloud ERP solution can go for Dynamics 365 Business Central. Those who are already running on NAV will automatically be upgraded to Dynamics 365 Business Central. However, we exclusively present NAVDPayRoll to cater to all PayRoll and Human Resource requirements and steer distinguishing accomplishments across employee management.
Serving in cloud computing solutions for more than a decade and being an acclaimed Microsoft Solutions and Service provider, we can help you effectively manage salary, and HR, and stay compliant. We have won many accolades for our exemplary services and assisted in maintaining business continuity across all our businesses.
For detailed information on cloud-based HR Systems and Software, write to us at info@navisionindia.in Or Schedule A Demo