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Alternative to spreadsheets for payroll management

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People use spreadsheets because they are free and easy to use. But there is a much better (and free) alternative for payroll processing and salary slip generation.

People use spreadsheets because they are free and easy to use. But there is a much better (and free) alternative for payroll processing and salary slip generation.

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  • 1. Payroll Nirvana
    …and why spreadsheets stink!
  • 2. Does this sound like you?
    You are responsible for processing payroll
    You need to release salary slips to employees
    You handle all employee salary queries
    You prepare bank transfer statements
    You prepare various MIS reports
  • 3. Your options
    Image courtesy: vectorportal.com
  • 4. Why spreadsheets?
    Excel is installed on almost all desktops
    Everyone knows how to use a spreadsheet
    It gets the job done
    It's free!
  • 5. Know what?
    A spreadsheet
    is the worst tool
    for the job!
  • 6. What is wrong with spreadsheets?
    Clerical errors / cut-and-paste errors / formula errors
    Fines due to wrong withholdings of statutory deductions like TDS, PF & ESI
    Payroll fraud
    Spreadsheets don’t reduce manual effort
    They multiply each month and lead to confusion
    Consolidated reporting is messy
  • 7. Exhibit #1
    “The presence of a spreadsheet application in an accounting system can subvert all the controls in all other parts of that system”
    [Butler R. 2000]
    (read this interesting article: "STOP THAT SUBVERSIVE SPREADSHEET!")
  • 8. Exhibit #2
    $24-million spreadsheet "clerical error"
    The Risk: Huge financial loss
    Story: http://www.theregister.co.uk/content/67/31298.htmlJune 03, 2003 TORONTO (Reuters) - [...] the company's computer spreadsheet contained mismatched bids for the contracts, it said. "It was literally a cut-and-paste error in an Excel spreadsheet that we did not detect when we did our final sorting and ranking bids prior to submission," TransAlta chief executive Steve Snyder said in a conference call. "I am clearly disappointed over this event. The important thing is to learn from it, which we've done."
  • 9. For endless entertainment and education about the problems & risks of spreadsheets, check out:
    Encyclopedia of spreadsheet risks
  • 10. Fine, spreadsheets are bad, but…
    I am an Excel ninja and this does not apply to me!
    I don’t give a damn. I am already delivering more than my pay scale!
    My company cannot afford costly ($$$) software!
    Duh! What’s your point? I don’t see any problem here…
  • 11. If you’re bent on using spreadsheets…
    Ensure your spreadsheet is from a reliable source
    Check for accuracy and statutory compliance
    Keep your spreadsheets up to date
    Take regular backups
    Follow spreadsheet best practices
    (see http://www.eusprig.org/best-practice.htm)
  • 12. But, what if we told you that
    there is an
  • 13. The better way…
    Imagine the ideal situation.
    Say, you want to process payroll for August…
  • 14. Click a button. August payroll is ready!
  • 15. Click. Salary slips are ready to print!
  • 16. Bank statement? Here you go…
  • 17. JV for accounts dept? There it is…
  • 18. And more…
    100% accuracy in calculations / statutory deductions.
    YTD statements
    Compare August payroll with July payroll? Easy peasy.
    Freeze August payroll so that no one messes with it? Done.
    Track detailed history of all compensation changes for an employee. It’s automatic.
    Automatic backups of all your important data. Month after month.
  • 19. The icing on the cake…
    FINE PRINTYou can use this service for FREE as long as you want, as much as you want. If you need even more convenience like statutory reports or employee self service, you can pay a small monthly fee... but the base service is always FREE for up to 50 employees!
  • 20. How’s that possible??
    It’s because we believe in the freemium model of doing business:
    Also see this video: How the Concept of Free Would Work
    Give your service away for free, possibly ad supported but maybe not, acquire a lot of customers very efficiently through word of mouth, referral networks, organic search marketing, etc., then offer premium priced value added services or an enhanced version of your service to your customer base.
    --- Fred Wilson
  • 21. About Greytip Software
    HR / Payroll software company since 1994
    A NASSCOM Emerge-50 company
    With more than 1000+ clients in India, UAE, Oman, Singapore and Malaysia
    (See http://www.greytip.com/content/clients)
  • 22. About Greytip Online
    India’s best HR / Payroll software as a service
    Stable and field tested software since 2009.
    Used by 500+ clients with 50,000+ employees.
    One of NASSCOM Top-8 SaaS Apps in 2011
    Our customers love this service
  • 23. Our customers are saying…
    “Greytip Online has taken all the pain out of our Payroll, Leave management and Reimbursements.”
    ManikJuneja, Director,
    Vinayak Solutions Pvt Ltd
    “This has considerably reduced our work load as far as admin department is concerned (absolutely no paper work involved).”
    S.Lakshmi, Dy. M- Admin, Unicorn Power Solutions Pvt Ltd
    “Earlier I had to spend 4-5 days to calculate salary but now by using Greytip it takes only 2-3 hours.”
    Rupesh, Executive – F&A,
    Nivio Technologies India Pvt. Ltd.
    “It's an amazing application, highly configurable, user friendly, feature rich…”
    Keshav S. Reddy, Director,
    Cooperp Software Solutions Pvt. Ltd.
    Read dozens of testimonials here…
  • 24. Summary
    Greytip Online is free to use
    A better alternative to spreadsheets
    A wide range of features & benefits
  • 25. What are you waiting for?
    Email us and claim
    your free account
    (hosted on powerful production servers)
    Login, check out
    all the features
    (30 day trial without any obligations)
    Step #3
    Signup for a
    trial account
    (as easy as opening a mail account)
    Step #2
    Step #1
  • 26. Thank You!
    Check out more info at: