What To Expect From Cloud-Based HR And Payroll Software In 2019?
A hundred years ago we used to travel on horses but today we fly in jets, we used to communicate through letters but today we use social media and literally the world has changed so dramatically that if we manage to bring an individual from the last century, he will find black magic everywhere. But astonishingly one thing hasn’t changed yet - Payroll Processing! The paper-pen and calculator may have been replaced by spreadsheets but the amount of manual work remains unchanged but we are going to witness something great in 2019 and the years to come. Let’s have a look at how the HR world will be impacted by the cloud-based Payroll Software and other cognitive technologies.
Robotic Process Automation
The RPA technology has been gaining momentum and here’s what it will do to your Payroll: when you will receive a mail containing an invoice, it will automatically download the attachment and process the information along with creating a JV entry in your accounting software. Thus, it will not only assist but do the job for you! RPA can be used to process reimbursement claims and travel expenses. This can considerably lower the human intervention and increase their productivity. The fundamental reason behind using RPA is the amount of time utilized in the counterproductive workload so as to relieve HR of their redundant and cumbersome manual data entry. RPA is certainly one of the blue ribbon offerings any software offers as it dynamically learns the user’s interaction with the system and imitates the same.
AI Chat Bot Integration
Call Centres are one of the most expensive clients servicing infrastructures and often big corporates hire dedicated employees to solve other employees’ grievances. The AI Chat Bot can be used to replace humans by providing a suitable database of queries and their solutions. This may potentially reduce the employee to employee retaliation and help employees feel confident about their queries being handled fairly and transparently. The problem of approaching the concerned personnel within the working hours is eliminated and thus the employees can access the system through Chat Bots from the convenience of their device and at their time. This results in lesser duplication of query answering and prompt grievance solving.
Customized User Experience
No company operates the same way as another company though they may be in the same field. The set of requirements for each firm changes case to case, and thus there is no panacea when it comes to Payroll Processing. Perhaps, the SaaS-based Payroll Software provides versatile customization options to contain any requirement that may arise. Thus they simplify the process and reduce bottlenecks by streamlining all the tasks. Various Payroll Policies can be configured and optimized as per the requirement of the organization. Everything right from the format of data being acquired and displayed to the detailing of processing can be controlled. All the fields can be configured to decide their accessibility to various employees to help reduce complexity.
The decision making is now being treated with the utmost caution, and it is a subject of scientific research. Thus BI tools are employed to help assist in the decision making process. The better reporting functionalities can be used at any instance as the software can generate subject-specific reports in real-time, which can ease the impulsive decision-making requirements. HR and senior management can utilize multiple reporting formats for various strategic and non-strategic purposes. The rising awareness among the business houses regarding the criticality of facts and figures while making a decision has escalated the demand for such advanced tools.
Ending Note
There are great chances of changes in the HR world in the nearby future. Even Indian markets will experience a huge change in the HR management system in the upcoming years. Even a lot of changes have turned into reality, like the use of OCR technology or Geo-Fencing.
The concurrent trends have made a substantial amount of curiosity amongst Indian businesses and especially among the ones growing in size. They mainly struggle with employee management, compensation, and benefits administration that can be streamlined using a hrms software india, even it will turn all the functionalities out to be the blue-eyed hacks and help in easing all the HR activities by making the task smoother and efficient.
