Materials Software System Inc. Payroll Processing Management. White Paper

Transcription

1 Materials Software System Inc. Payroll Processing Management White Paper 1

2 PAYROLL PROCESSING MANAGEMENT (PPM) One Application Multiple Solutions All under one portal Learn the latest methods for reducing costs and Increasing employee acceptance Introduction: With detailed financial analysis and real world case studies, this white paper will demonstrate the exponential cost savings that can be achieved through properly tracking and managing employees paid time off and significantly reducing the amount of time that your human resources department spends managing employee information. You will: Cost Savings Gain deeper insight into the financial overhead and employee time management. Learn how to cut costs of time-sheet processing and management by up to 90%. A reduction in cycle time by 50%. A reduction in cost per transaction by 60%. A reduction in inquiries made directly to hr by 75%. A 100% payback in just one year. The fact is that automated processes are evolving. It s migrating from a standalone, manual process to an automated, integrated 2

3 environment where the latest technologies combine to make human resource management as efficient and productive as possible. The goal of this paper is to demonstrate why this evolution is important what it means to you and what you can accomplish by evolving your own human resource process s at the pace that s right for you. Market Analysis: Present trends in hr management: Current research shows a migration from older, more obsolete methods of processing applications to web-based initiatives that greatly benefits streamline and enhance the entire process. The current state of Human Resource Management is a spectrum of approaches. This spectrum can be roughly defined by three phases: Phase1: Companies who use the traditional paper-based method. Phase2: Companies who use a web-based, stand-alone software application to handle their processes. Phase3: Companies who have integrated their time sheet management with other critical hr management issues to create a single system approach that delivers a completely proactive process. But it s the Phase 3 position where the most value is recognized and it s completely possible to skip from Phase 1 to Phase 3 with the right providers. To answer why, let s examine phase 1 and phase 3 of the spectrum to determine where the advantages - and faultiness - lie. Phase 1: Paper-based hr management: Paper-based human resource managing employee reports and employee time-sheet management have been around since the beginning.many companies still trust this method, thinking it as a satisfactory way to produce reports of their employees and track the working hours of their employees. But let s look at what s really involved in this process: Tracking employee time on papers. Printing employee reports. 3

4 Checking information for errors. Assembling information brochures. Paper based management (confused?) This first part of the process alone usually takes 1-2 weeks. Next, come s the challenge of the actual calculations from bulk of material. This results in all forms being checked manually for accuracy. Human resource staff chasing down employees to determine who has completed the process. Performing time sheet calculations for reports. All paperwork filed and stored on premise, incurring more time and cost. The net result is that the average paper-based human resource management takes an average of 3-4 weeks from start to finish. Phase 3: The completely integrated (Single System with Single Database) approach. The need to make more information available to employees and the need to streamline processes even further, drive many companies into the third and most advanced phase of their human resource management evolution. This is the sweet-spot, where businesses integrate their employee management system with their hr platforms and databases to develop a truly comprehensive, integrated approach. Providing employee, easy way to handle their time-sheets. 4

5 Move ahead with Payroll Processing Management (PPM) Enter and update all employee information in one place. Maintain up-to-date data throughout. Know that data integrity is assured from system to system. By taking this approach, a business is giving Managers and human resource s the dynamic tools. Maintaining different reports on one application. Human resource departments gain the most streamlined, efficient process possible. Time and effort are saved. Human resource resources can be redeployed for more strategic tasks all for a minimal investment in technology. Easy to use interface (PPM) 5

6 By providing all the above benefits, Materialsoft Systems Inc has launched its product namely Payroll Processing Management (PPM) to help companies reduce costs and increase employee acceptance. Task analysis of automated payroll management: Paper vs. completely integrated approach. Deploying an online hr management application can have a dramatic effect on an organization that is used to the slow, manual paper-based approach. Payroll Processing Management Tasks Paper-Based Method Completely Integrated Approach(PPM) Benefits material distribution Manual Automated Employee Time Sheet Entry Manual Automated Employee process tracking Manual Automated Data auditing Report calculations Storage Manual Manual Manual with physical storage Automated Automated Automated with electronic storage The need to make more information available to employees and the need to streamline processes even further drive many companies into the third and most advanced phase of their human resource management evolution. Human Resource Management Software form Material Soft: Materials Software System Inc, the leading global solution provider, created its popular hr management enterprise namely Payroll Processing Management (PPM) based on save time save money scenario and to reduce work burden on human resources. 6

7 Their Web-based solution can be implemented in less than 1 human resource and requires no hardware investment. Payroll Processing Mangement is a business suite for Enterprises. It is a comprehensive huamn resource management suite for managing employees information, their performance and all records for Statutory and Legal purposes. Payroll Processing Management (PPM) Payroll Procession Management application consists of following modules: Time Sheet Reporting. Payroll Management. Attendance Tracker. Expense Tracking. One Application, Multiple Solutions (PPM) 7

8 Features Payroll Processing Management(PPM) is a web based solution with user interface, easy to use. PPM is the fastest way to track and record billable time of an employee in the company. Employees enter their hours from any where using PPM on the web. Enter and submit timesheets online right into the Payroll Processing Management(PPM) in one click. Employee Time-sheet (PPM) View employee information at-a-glance in convenient reports. Save time over old fashioned paper based employee timesheet entry. Maintain a record of employee time, spent on different projects. Good performance with concurrent users. Application can be accessed from any browser. Online timesheets that enable on-demand time tracking with maximum accuracy. Online approvals to streamline supervisor workflow and keep payroll moving. Empower employees to handle all of the administrative tasks online, without paper-based costs. 8

9 Provide all materials online. Walk employees through enrollment process with interactive instructions and process all applications electronically and allow employees to update there information. Keep an online copy that is protected and can be printed whenever necessary. Allow department heads to run their own reports. The simplicity of creating on demand reports. Multiple reports Preview payroll as often as necessary before processing to ensure accuracy and eliminate rework. Provide unlimited access to key payroll professionals though desktop or laptop. 9

10 Single login multiple tasks PPM features provide solutions to problems faced by Enterprises: Payroll Processing Management is a business application for the Enterprises. It takes care of all the activities of the human resource divisions of the Enterprise. All under one portal. Time sheet is easy to use and allows fast entry, no matter where staffs are located. No staff training is required. Save time save money. Manage and track timesheets from anywhere. Easily accessible. Save timesheets with a single click, export data to other business systems, run comprehensive reports and more. Reduced stress on human resource department. Communication to different sections in the company is through the centralized system A reduction in inquiries made directly to hr by 75%. Application administrator is responsible for giving privilege to various companies to access Payroll Processing Management (PPM). Once added, the respective company s application administrator can search any company for details and update the latest information. Search at your finger tips. Keep track of employee s details, about their performance, attitude, their strength and weaknesses, communication, etc. human resource Manager is responsible to add the employees, view and update the employee details in a company. Monitor your employees. 10

11 The employees are assigned to a specific client depending on their skills, completion of the projects with in the time frame allotted. When the project is completed the respective employees are unassigned from the client and work for their hired company until they are assigned to another client. The hr Manager is responsible to add the clients and to assign the employees to the clients. Client and employee management The timesheets are submitted to the reporting Manager for approval. Employee receives an when the submitted timesheets are disapproved by the reporting Manager. Disapproved timesheets can be modified and resubmitted for approval. Automated time-sheets. Manager is responsible for timesheets approval. Every employee will be reporting to respective Manager who monitors him. 80% reduced reporting time. Manager can approve/ disapprove the timesheets based on number of hours the employee entered on each day for every client. Timesheets that has not approved will not be paid. No extra payments, Save your money. Report information has been compiled as a result of research and analysis of data & issues in companies. Reports can cover a wide range of topics, but PPM focus on transmitting information with a clear purpose, to a specific audience. PPM provides various reports which will help the management; specific audience can digest the information and thereby take necessary measures to improve their business. - A 100% payback in just one year. Comparison: Features Easy to use user interface. Time-sheet tracking. Employee time-sheet information in reports. Payroll Processing Management(PPM) Administrative System Inc Sure Payroll Wasp Yes Yes Yes Yes Yes No No Yes Yes No No Yes Employee Yes No No No 11

12 time spent on different projects. Calculating payrolls. Payroll reports. Single Integrated system (single database). Client and Employee Management at finger tips. Monitor your Employees. Automated Employee attendance. Yes Yes Yes No Yes Yes Yes No Yes No No No Yes No No No Yes Yes Yes Yes Yes No No Yes Disclaimer: Extracted from the public sites being published from the respective web sites. Platform/Technology: Payroll Process Management (PPM) product is developed using the ubiquitous Java language. Developed using Java/J2EE platform. Along with this platform, various frameworks like Struts, Hibernate ORM tool was used to develop PPM. PPM product can run on any environment i.e. Windows, Linux or any flavor of UNIX. PPM can be installed on a workstation meant for single user or installed on a server meant for multiple users in a network. 12

13 Conclusion: As you can see, the traditional method increases costs dramatically when the number of employees increases. That means it's a cost restrictor to the growth of your company. What you need is a new approach to dramatically reduce the cost per employee and manage hr division. Payroll Processing Management(PPM) from Materials Software System delivers solid productivity gains for payroll administrators, staff Managers and employees. So do these time savings translate into cost savings for your company as well? Up to this point, we've examined the value of Payroll Processing Management (PPM) from the perspective of material cost reduction and enhanced processes for administrators and employees. Call to action: Materials Software System can help you with your evolution. Call our Payroll Processing Management (PPM) professionals at: USA , India , , and we can determine what solutions you need to gain at phase 3 position, in time for your company s human resource management. It s just the approach you need to keep your human resource department competitive in today s ever-changing business climate. You can evaluate this web-based technology for yourself. Register for a free live demonstration of Payroll Process Management at: ALL RIGHTS RESERVED Copyright in whole and in part of this document "Payroll Processing Management One Application Multiple Solutions All under one portal belongs to Materials Software System Inc. This work may not be used either in part or whole in any form or manner without the prior written consent of Materials Software System Inc. THE END 13