Are you thinking about automating your company’s salary management processes? Great decision. As a matter of fact, it is reported that nearly one-third of HRs time is wasted on payroll processing. When you have a powerfully integrated HR and payroll management software to automate it, you are better off with these tasks.
We used the term ‘HR and payroll management software’ intentionally here because when it comes to payroll processing, you have so many options out there in the market. Stand-alone payroll system software and those integrated with HR suites.
As you navigate the realm of these tools, you will have questions like what the big difference is. Let’s explain that and also show you why HR and payroll management software work best when they are together rather than when they are separated.
Understand The Difference: Standalone Payroll System Software Vs HR Integrated Payroll System
The key differences between a standalone payroll system software and an HR integrated payroll system are listed below to make the comparison easier.
Standalone payroll system software
A standalone wage management system will just do the function it is primarily designed for, which is to process the payroll. To do that, you will have to manually feed it with all the necessary information, such as:
- Employee personal details
- Job titles and departments
- Attendance and leave data
- Work hours and shift schedules
- Salary structure and pay components
- Tax declarations and deductions
- Benefits and allowances
- Bonuses and incentives
- Reimbursements
- Bank account details for salary disbursal
Once you provide it with all the required information correctly and give the appropriate commands, it will proceed to process the payroll.
HR Integrated payroll system software
In an HR and payroll management software, you will have to do less manual entries than in a standalone system. Here, you have quick access to all information like attendance and leave data and employee personal details, since it is primarily an HR system with payroll as an extension.
