Payroll Solution - iON Cloud ERP


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As organizations strive to improve employee morale, job satisfaction and productivity, it becomes imperative to regularise the payroll cycles to keep them motivated. But how do you ensure that your employees receive the right salaries on time, every month?

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Payroll Solution - iON Cloud ERP

  1. 1. Payroll SolutionAs organizations strive to improve employee morale, job satisfaction, and productivity, it becomesimperative to regularize the payroll cycles, in order to keep employees motivated. But how do you ensurethat your employees receive the right salaries on time, every month? How do you eliminate errors andinaccuracies in payroll management? How do you ensure data compliance with government norms?We, at Tata Consultancy Services (TCS) bring you our automated iON Payroll Solution to help you managethe complete payroll cycle of your organization. Our simple, cost-efficient solution assures easyintegration with associated systems like Finance and Accounting (F&A), allowing you to focus on coreactivities.Overview BenefitsAn effective payroll solution is one that ensures accuracy, We provide a comprehensive solution covering the completeconsistency, and reliability in your payroll operations. While payroll cycle, bringing you advantages such as:helping you adhere to statutory rules and compliances, our n deployment; Instantsolution brings down the complexity of the payroll process andspeeds it up. This ensures minimal manual intervention from your Efficient payroll processing; nHR personnel, allowing them to focus on other strategic initiatives.Our comprehensive, on–demand iON Payroll Solution has been Increased productivity of HR staff; ndesigned to offer you all this. The solution generates monthly payslips comprising variable and fixed components, for each Improved employee productivity; nemployee. Taking into account investment declarations, tax Increased employee acceptance, leading to faster and more ndeductions, loan deductions, leave encashment, claims, efficient administration;increments and PF management; it generates yearly income forms,maintains tax savings for your employees and projects income tax Reduced duplicate data entry and facilitation of nliabilities. It also calculates final settlement of all your resigned or communication;retired employees. Reduced risk of payroll tax penalties by accurately calculating nOffering add-on features, this easy-to-use offering helps : employee earnings and deductions.nattendance and time efficiently, thus ensuring error-freeTrack payroll computation and labor management;Compute taxes based on prevalent taxation laws, thus ensuringn compliance with government policies;nearnings and deductions to meet your unique needs andTrack formulate comprehensive in-built reports.
  2. 2. Payroll Solution FunctionalitiesMaster maintenance Saving and income taxMaintains employee particulars;n n users to register the details of any Allows investments made for tax relaxation. The YTDMaintains income tax parameters;n figures for each month are updated regularlyMaintains pay account codes;n depending on investments till date. The monthly deductible amount of income tax is re-evaluated forMaintains loan interest rates;n each employee based on his/ her current savings.Configure grade base / employee-specific payn The different attributes for tax rebates against each codes; saving under Section 80C, 80D, etc. may be recorded through this;Maintains all statutory parameters.n Generates yearly income forms; nMiscellaneous payments and recovery n income tax liabilities; Projectsn users to register the details of sundryAllows transactions, which are need-based. It also gives Maintains tax savings – internal and external. n users the facility to rectify any errors or slippage on Provides a detailed employee wise income tax n payroll computations carried for previous months; calculationn payment recoveries.Adhoc PF and final settlementMonthly payroll Maintains PF details for the current financial year; nAll payments and deductions for a particularn Calculates gratuity; n employee are marked and then mapped to different transactions for a month. After creating payroll Manages leave encashment. n transactions, the pay image is created to generate Manages Final settlement processing for individual n pay slips; as well as multiple employeesConfigures payroll system;n ReportsComputes payroll;n Generates pay slips; nGenerates payroll transaction details;n Generates bank / cash schedules; nProvides an option to undo the computationn Generates pay transaction details; n process which enables user to do required corrections or rectifications. Generates pay register and pay variance report. nMonth-end processing Generates all the Statutory Reports nn the payroll flags for continuation from nextResets month;Generates salary voucher;nUpdates monthly data like YTD figures, loann balance, and installments.nthe Payroll voucher to F&A systemPosts
  3. 3. Why iONiON provides comprehensive solutions that address A pay-as-you-use modelvaried IT requirements. From network to ERP, iON isoffered as a single service, in a pay-per-use model, This model eliminates capital investment as weallowing you to leverage the solution’s true potential. provide the IT infrastructure and software on rent.iON ensures integration of all processes along with You pay as you use and only for the number of usersease of use. who actually use the software. The rent is charged monthly. Typically, the cumulative rental for threeiON promises: years is equal to the capital cost of acquiring similar or lesser software with one-time payment. Usually, thenperformance in normal broadband;High ROI exceeds rental within three months, when best practices are well followed. The rental includesStringent security and data privacy;n maintenance and training, with no hidden costs.Guaranteed availability (99 per cent uptime);n Personalised solutionsDisaster recovery;n Although this is a cloud service, the software isReduced need for IT staff.n configurable to each business. You will always get the flavour of your own business by picking and choosingiON, therefore, manages your processes while you use what processes you would need.the software. You gain from: Automatic upgradesIntegrated solutions We continuously invest in our solutions to ensure bestWe ensure that all your solutions are connected. For practices. We enrich the software based on userexample, if you are using a CRM along with an ERP, feedback and business and statutory changes.and have a document management system to We ensure the upgrade without disrupting the user.organise your files, we ensure that these solutions areconnected and work as one. So for you, it is simply ITand not applications.Increased agilityWe bring in the agility to keep pace with changingprocesses or a new line of business. We help youconfigure the processes to work differently or simplychoose new practices recommended by the software.Our activation system flags on best practices while thesystem is running. As you pick and choose, we give youmore options to choose from.
  4. 4. About iONiON is Tata Consultancy Services’ strategic unit for Small and Medium Business. iON providesend - to - end business solutions to the SMB segment, the growth engine of the economy.iON caters to the needs of multiple industry segments with best practices gained through TCS’global experience, domestic market reach, skills, know-how and delivery capabilities.For more information, visit us at www.tcsion.comContactTo know more about the iON Payroll Solution,Toll Free Number 1800 209 6030Email ion.salessupport@tcs.comAbout Tata Consultancy Services Ltd (TCS)Tata Consultancy Services is an IT services, consulting and business solutions organization thatdelivers real results to global business, ensuring a level of certainty no other firm can match.TCS offers a consulting-led, integrated portfolio of IT and IT-enabled infrastructure, engineeringand assurance services. This is delivered through its unique Global Network Delivery ModelTM,recognized as the benchmark of excellence in software development. A part of the Tata Group,India’s largest industrial conglomerate, TCS has a global footprint and is listed on the NationalStock Exchange and Bombay Stock Exchange in India.For more information, visit us at www.tcs.comIT ServicesBusiness Solutions TCS Design Services I P I 09 I 11OutsourcingAll content / information present here is the exclusive property of Tata Consultancy Services Limited (TCS). The content / information contained here iscorrect at the time of publishing. No material from here may be copied, modified, reproduced, republished, uploaded, transmitted, posted ordistributed in any form without prior written permission from TCS. Unauthorized use of the content / information appearing here may violate copyright,trademark and other applicable laws, and could result in criminal or civil penalties.Copyright © 2011 Tata Consultancy Services Limited