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Guide To Hrms & Payroll Solution

By Author: Deval Sravan
Total Articles: 3

1. How HRMS & Payroll evolve with time

Ancient Civilization

In ancient era system of bartering was used to pay employee or workers if they are willing to help. Like I’ll give you a stone axe if you help me kill a mammoth, In today’s world also these type of trades happen in some cases or occasion. But this barter system also has some major disadvantage like someone thinks the trade is unfair and he is not getting what he is eligible for.

Vedic Age

In Vedic age concept of money used first time in doing trade, paying employees and workers. The first form of money was animals, grains or shells. In this era, number-system was invented and used. It has increased people’s understanding to quantify things during payment made to employees and workers. This was a great improvement in making a transaction, which was not possible earlier in the barter system.

Coins & Currency

In the 6th century BC, coins were used in Indian, Chines, Lydia’s kingdom. It has revolutionized how payments are made to employees because a single reference point was available to quantify value to services and goods. But still calculating how much to be paid was painful matter.

20th Century

In 1981 first software for atomizing office transaction was brought into the market along with the popularity of PC. It has addressed how financial and payroll transactions are recorded and reduced requirement of human effort in calculating and processing financial and payroll transactions. But only the simple task can be done with PC and it was out of reach for a normal person.

21st Century

In the last decade complexity of payroll software was understood and considered as an independent subject to tackle it. Dedicated complex and immobile solutions related to payroll have emerged and payroll teams become large and inefficient who failed to cope up with latest technological advancement.

The Future

With the revolution in Cloud, SaaS and smartphone technology it would be possible to address the complexity of payroll and HR process in painless and automated ways. Now entire company’s payroll can be handled by just one person. 

2.What is factoHR HRMS & Payroll

factoHR is Single integrated software platform for your all HRMS Software and Payroll system needs. 

3.Why certain organizations have hesitation to adopt HRMS & Payroll System

Organizations trust that their present procedures work satisfactorily.

This is the very strong situation for any company to confront the truth that wants to maintain their status -quo even if their processes are inefficient and obsolete. 

Many companies believe that they are not size fit to adopt HRMS & Payroll system. Automated systems can be implemented in any size of the company. If it is adopted at the early stage it would be a lot easy to implement and get acceptance from employees. The survey shows that if company implement system and process from their inception their chances to grow increase by 70%.

Many HR heads think that investment in HR or Payroll solutions doesn’t pay off. It is the biggest myth regarding HR and Payroll solutions. As per our experience with 500+ clients across industries, it has been clearly shown that any company can save 87.5% of their HR cost with factoHR HRMS and Payroll solution implementation. 

4.How FactoHR HRMS & Payroll solution can do wonders for your organizations

Different companies have seen great improvement in implementing factoHR HRMS & Payroll solution and here are some of the major benefits.

More About the Author

Deval is a senior HR in Delvinche Corporation which is situated in West Virginia.

Total Views: 20Word Count: 552See All articles From Author

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