Payroll Software
Automate your Payroll Processing with Machine Learning-based smHRt Payroll Software
Quick and Accurate Processing of Salaries that fulfils Advanced Payroll Requirements & Statutory Compliance.
smHRt Payroll Software
Streamline your Payroll Operations with truly smHRt Payroll Software
Embrace the Future of accurate automated Payroll Processing with Machine Learning-based ‘smHRt Payroll’, integrated with Attendance Management System
Next-Gen smHRt Payroll
Employ the Intelligence of Machine Learning to process your Employee Payroll accurately minimizing the processing time to a few minutes.
Comprehensive Payroll Overview
Quick Overview of Payroll Information for ensuring accurate payroll processing and improving visibility within ESS Portal.
Payroll Processing Pre-checks
Option to select Time Consolidation, Leave Posting, Payroll Posting, Monthly Input, Bulk Supplementary and Bulk LOP Credit.
What is Payroll Software?
Payroll Software is a platform that enables companies to manage and pay salaries to their employees on time. As it is integrated with GPS attendance system, it improves the efficiency and accuracy of the payroll management process in organizations. The HRMS payroll processing software also ensures complete compliance with the numerous statutory regulations, while ensuring secure storage of the company’s payroll database.
Highly Flexible Payroll Management
Completely Customizable Payroll for Precise Calculations
Tweak your payroll settings and implement your organizational calculations for the correct Multi-company Payroll
Multi-Company Payroll
Manage payroll details of multiple ventures in your business using the same access for HRMS Software.
Multi-Structure Payroll
Easily create multiple employee categories for setting different payroll rules, by integrating with Leave Management System.
Conditional Formula Builder
Change salary heads with custom formulae, right from your employee management system, without depending on the developer.
Comprehensive Payroll Processing Software
Automated Payroll with Large Data Processing for Quick Processing & FnF
Streamlined calculations, combined with biometric attendance system, providing you with complete control of overall payroll processing
Automated Calculations
Streamline payroll calculations such as arrears, provident fund, professional tax, IT, ESI, etc.
F&F Calculations
Smooth exit with automated gratuity calculations, leave encashment and asset recovery.
Background Processing
Multitask efficiently by batch processing payroll in the background to improve productivity.
Product Brochure
Payroll Software Quick Guide
Payroll Software is a system that helps you manage employee payroll by enabling accurate calculations and automating compliances, to enable you to disburse it accurately on time. To ensure accurate payroll, modern cloud-based payroll software like Pocket HRMS utilizes advanced technologies like Machine Learning, which sifts through the payroll data and informs the user of any discrepancies such as data outliers.
According to Mordor Intelligence, the HR payroll solution market is estimated to be at USD 1.66 billion in 2024. It is expected to reach USD 2.38 billion by 2029, by growing at a CAGR of 7.49% during the forecast tenure (2024- 2029).
Capturing Data
The cloud payroll system captures attendance information for a specific salary cycle to gather the exact number of days or hours worked by the employees.
Salary Calculations
Payroll solutions also calculate the final salaries of the employees by adding the earnings and benefits, while removing the deductions and taxes.
Compliance Handling
Payroll system also automates the task of ensuring complete compliance with the statutory regulations as it verifies each salary against all regulations.
Salary Disbursals
It helps disburse employee salaries by generating the bank file in the format required by the banking partner of the company using the system.
Payroll Processing
The accurate processing of each employee’s payroll is the core responsibility of the payroll system. With it, HR teams can avoid manual errors resulting in an accurate payroll process.
Compliance Handling
Payroll solutions also automate the process of compliance handling by cross verifying each entry against the local and national laws related to employee payroll and taxes.
Direct Deposits
It can also transfer employee salaries to their accounts using direct deposits as banks provide dedicated APIs to interface with the payroll system.
Analytics & Reporting
Analytics and reporting are other essential features of the payroll system since they provide the company with data that can be used to determine the effective utilization of employees.
Employee Self-Service
Payroll systems also provide employee self-service portals in the form of web access or mobile apps to ensure round-the-clock remote access to their payroll data.
Time Tracking
It also helps track employees’ login hours accurately, enabling the correct calculation of payroll, and making ‘time-tracking’ an essential feature of payroll solutions.
Secure Database
It provides enterprise-grade 256-bit secure data encryption, improving the overall security of these systems.
Software Integration
Integrating with other commonly used HR software enables streamlined flow of data between systems making it easier for the HR personnel to undertake their operations.
Accurate Payroll Calculations
Payroll systems calculate employee salaries based on custom formulae defined by the HR department while deploying the software, minimising errors in the final calculated amount.
Compliance Automation
It completely automates the process of maintaining compliance as it throws an error any time a non-compliant value or transaction is undertaken using the system.
Increased Data Security
It also provides enhanced security for employee and payroll data with the help of highly secure military-grade encryption algorithms, as this information is sensitive for the organization.
Advanced Analytics & Reporting
It also helps gather advanced real-time analytics and generate custom reports, helping the HR make informed decisions, and stay on top of company finances and budget constraints.
Enhanced Efficiency
The payroll system also improves the overall efficiency of the payroll process by automating most of its functions, saving the productive hours of the HR team.
Increased Employee Satisfaction
Employee salaries can be calculated and disbursed accurately on time with a payroll system, leading to increased job satisfaction for the employees, and better engagement and retention for the employer.
Timely Notifications
It also helps HR to stay on top of employee payroll with constant reminders and notifications, resulting in the avoidance of penalties.
Employee Self-Service Options
Through dedicated mobile apps and web-based Employee Self-Service Portals, payroll systems make it easy for employees to access their payroll data.
Itemize Requirements
You should start by identifying and noting down the exact requirements of your organization to be fulfilled with online payroll processing software.
Verify all Features
Next, you should check the payroll systems market for payroll systems and identify the ones which fulfil your requirements by checking whether it satisfies your requirements.
Ensure Flexibility
You should also make sure that the payroll system is highly flexible, as you would be able to replicate your payroll management process within the software.
Prioritize User Interface
You should also prioritize the user interface of the payroll solutions to be extremely simple as it is required to be used daily, especially by the HR and Accounts team.
Check out Support
Additionally, you should check out the various support options provided by the software vendor, by considering how you will contact them and what is their ‘Turn Around Time’.
Try Free Trials
Once you have finalized all the above options, you would be left with 2-3 software vendors which seems exciting enough. Hence, you should get demos and try free trials before picking your final choice.
Latest Payroll Software Trends
Artificial Intelligence
AI will be used extensively to calculate payroll accurately as well as improve the efficiency of the payroll process. Its usage will also result in increased automation.
Flexible Solutions
Future payroll solutions will provide highly flexible options to enhance the adaptability of the solution to the organizational payroll management structure.
Cybersecurity
There will also be an increased emphasis on cybersecurity measures such as data security, integrity, user access, threat circumvention, and more.
Remote Work Dynamics
With the rise of the gig economy, a larger number of payroll systems will start supporting it, providing the HR teams with customizable options for remote workers’ payroll.
Real-time Analytics
Advanced payroll systems will also provide real-time analytics and reporting options to provide the HR teams with instant access to their payroll information.
Financial Well-being Integration
Financial well-being will be integrated within these systems, helping the employees invest better as well as plan for their retirement.
What HRs think of Pocket HRMS
“We have been using Pocket HRMS Software for a year and are very happy with our choice. Excellent service support.”
– Niranjana Neelakantan
HR Director, TESSOL
“The support team is highly admirable. Their professional and polite approach to our queries is simply excellent.”
– Nishant Mahajan
Corporate GM-HR, EvolveBack
“Data monitoring & HR analytics are made easy by Pocket HRMS, it is upcoming the future of the HR industry”
– Sonal Gangwani
HR Manager, Ignatiuz
Resources for HR and People leaders
Pocket HRMS: All-inclusive Payroll Software
Processing the most essential thing in any business is sure to take up time and resources.
Pocket Payroll: Best Solution For HRMS and HR
Pocket HRMS Solution Incorporates Small and Medium Enterprises for Online Payroll Services
How to Increase Productivity of Your Company
Every Business Enterprise wants to excel and improve their overall productivity.
How much does Pocket HRMS cost?
The Standard Plan of Pocket HRMS costs ₹2495 per month for up to 50 employees. If you employ more than 50 employees, then you can pay an additional ₹40 per employee per month to enjoy the numerous features of the Standard Plan.
Similarly, the rate for the Professional Plan of Pocket HRMS is ₹3995 per month for up to 50 employees. If you employ more than 50 employees, then you can pay an additional ₹80 per employee per month to enjoy the extra features of this Plan along with the Standard Plan features.
The most feature-rich plan of Pocket HRMS is the Premium Plan which has all the features provided in the Professional Plan along with additional exceptional features which make Pocket HRMS revolutionary software for your organization.
How is Pocket HRMS Payroll different from the other online Payroll Software?
The main difference between Pocket HRMS and any other cloud-based payroll system in India is the ‘smHRt Payroll’ feature, which utilizes Machine Learning to learn your payroll patterns over time and highlight any errors in your payroll data. Using smHRt Payroll, you can process your employee payroll quickly with simplified steps, as the system takes care of capturing errors for you.
Can Pocket HRMS Payroll Software handle multiple pay schedules?
Absolutely! Pocket HRMS is an employee payroll software which is customizable to your exact payroll requirements. By configuring it to handle multiple pay schedules, you can process salaries and generate payslips whenever you require, ensuring complete flexibility. Additionally, processing your employee salaries through ‘smHRt Payroll’ ensures complete accuracy and enhanced efficiency.
Is the data secure with your Cloud Payroll Software?
Pocket HRMS is hosted on Microsoft Azure, which utilizes 256-bit enterprise-grade encryption standard to keep your payroll data safe and secure. Combined with robust uptime and architecture, Microsoft Azure has proven to be the best option to safeguard sensitive data like employee payroll information. So, yes, the data remains completely secure with our cloud payroll software.
