How does ERP Accounting Software help the Organization in Payroll Compliance?
Payroll compliance, or statutory compliance, is the legal mechanism that organizations are mandated to follow for employee treatment. Organizations need to take care of their employees and safeguard them from risks and threats including but not limited to, effectively paying salaries that are in sync with employee expenditures such as rent, loan premiums, etc. A significant chunk of the organizationsu2019 time and money goes into making the compensation process streamlined and complying with these regulations. An ERP accounting software enables the organization to take on more tasks than the average employer and expedite its remuneration efforts. Software that is compliant with the reward systems of the organization can be tailored into the software to customize the functions of the organization and fit the needs. For organizations with a medium to large workforce, and multiple funds to manage and disperse, an ERP saves the time and cost invested in the upkeep of repeatable tasks.
27 views • 2 slides