3 Must Have Application for SMEs

SMEs, abbreviated for small and medium enterprises are considered as the future for development. As these enterprises are established by young minds with innovative ideas that can carve the future of the world. Thereby it is essential for them to opt for the best software for HR. As such an initiative will enhance the productivity of the HRMS providing room to introduce new ideas for betterment of the organization.

Let’s delve a little and discuss three such software for SMEs:

HR software

Human resource management plays a pivotal role for any organization be it small or medium scale enterprise or a large scale organization. Human resource management team is responsible for monitoring the life cycle of each employee that begins from the day of joining. The human resource team keeps a track on the employee’s performance, attendance and achievements. It assists the admin team to make calculated decisions on appraisals and promotions. For small and medium scale enterprises such software for HR plays a pivotal role. As it assists in establishing a systematic pattern for functioning of the organization. A newly established organization needs assistance to manage the policies implemented by the state and federal government for the workforce. HR software assists in forming organizations policies for the employees to follow while rendering service for the organization. The features provided by the HR software automates various imperative activities data related to employees’ attendance, performance curve, notifying the employee about the benefits in accordance with the eligibility of the employee. It eassens to reward the employee motivating to maintain the zeal to continue the hard work of the employee. 

 

Payroll software

Payroll software plays an important role for any organization. It manages the workforce and is responsible for managing the financial aspects of the organization. Payroll software ingrains the data collected by the HRM determining the amount that needs to be credited in each employee’s account at the end of the month against the services rendered. An integrated payroll software ingrains the required data automating the process of determining the days the employee needs to be paid for. It assists the payroll team to keep track of the compensations and reimbursement amount that needs to be added in the take home salary of the employee. Payroll activities can be categorised in three parts.

• Pre-payroll activities
• Payroll processing
• Post payroll activities.

The payroll team monitors the legal payments that need to be made by the employer and the employee. For instance, the tax deductions that need to be done from an employee’s account who exceeds the bar established by the state and federal government. It notifies the employee of the deductions and rules that can assist in exemption of such deductions. If an employee is paying EMI for a home loan or any other loan which decreases the annual income below the bar he/she can be exempt from paying such a hefty amount. 

Workforce management software

The third software that is recommended for the SMEs is workforce management software. This software serves in maintaining the productivity of the organization. It has been witnessed that such software has assisted on a huge scale for entrepreneurs as they can monitor their employees engaged on various projects. It assists the employee to update the progress of the task assigned to them. Such an approach smoothens the process for the admin to identify the areas that need extra attention for the development of the organization. For Instance if the performance of the sales team has been affected due to any reason. The employer pays special attention in taking measures to boost the team and increase the productivity of the team. 

Also Read: When and Why Custom Software Makes Sense for Small Businesses

These are the best software for HR for any organization that can have a tremendous impact on the productivity of the organization. Having said that it is essential for the organization looking for opting these applications to make a calculated decision after consulting the IT team. As that will assist in understanding the requirements of the organization.