5 Payroll Management Firms improving employee experience in India

By Gloria Mathias

Employees contribute a major chunk of the Indian economy. Their lack of financial and professional profiling is core to them not being part of the mainstream financial ecosystem. Similarly, the RBI’s Financial Inclusion Index of 53.9 in 2021 is a testimony to India’s SME employee base being plagued with poor access to financial services.

Small and medium businesses in India face tightened cash flows, putting SMEs in a tight spot and hurting employee morale. Hence, prioritising financial wellness in the workplace will help employers attract and retain top talent.

Payroll management platforms can conveniently help them manage their HR functionalities such as time and attendance, leave management, payroll processing, compliance, and performance management for their employees. Payroll processing helps businesses improve payment procedures by modernising financial management, making payments easier, and improving the user experience.

Listed below are 5 Payroll processing platforms streamlining SME operations:

• Neeyamo

Neeyamo is a technology-enabled global payroll and EOR solutions provider for multinational and micro-multinational corporations worldwide. The firm strives to deliver solutions by leveraging its global presence and enterprise global payroll technology stack that powers its single global engine. Neeyamo’s experts serve clients across 180+ countries by leveraging its functionality-rich, next-generation portfolio of HR & payroll products that delivers complete end-to-end solutions for organisations of all sizes.

• Paysquare Consultancy

Paysquare provides comprehensive solutions for payroll and compliance needs. From consolidating payroll inputs to processing payroll and tax reports to meeting statutory compliances and filings, it manages HR and Finance teams accurately and efficiently. Paysquare is emerging as one of the technology-based solution providers in HR and payroll.

• Quikchex

Quikchex makes it easy and affordable for Indian SMBs to pay and manage their employees. HR managers, Finance managers, and/or Payroll managers can process payroll, leave, and reimbursements conveniently. The platform serves hundreds of SMEs and large businesses in India across all industries. The firm’s payroll software involves a 7-step payroll process. It automatically processes variable payments, arrears, gratuity, TDS, PF, ESIC and other deductions.

• ZingHR

ZingHR is India’s HCM platform, emerging in HR Tech and experts in all-around HR solutions. ZingHR is on a mission to empower workforces and improve businesses with better HR strategies and tools. With technologies like Blockchain Data Management Systems, Face-ID, Zero-touch Payroll, Digital onboarding, chatbots and Robotic interviews, ZingHR delivers industry-specific solutions for significant and tangible outcomes.

• Zimyo

Zimyo is a comprehensive HR software that simplifies and automates HR processes for businesses of all sizes. We offer a range of features, including employee management, payroll, compliance, and performance appraisals. With its user-friendly interface and powerful automation, Zimyo helps HR teams manage their work effectively by streamlining a range of HR processes, including HR and Payroll management, Attendance and Leave management, Performance management, Talent acquisition, and more.

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