Soais Payroll Outsourcing[2]


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Soais Payroll Outsourcing[2]

  1. 1. SOAIS 2009 © All rights reserved PAYROLL OUTSOURCING 2.0
  2. 2. CORPORATE PROFILE SOATECH , the process arm of SOAIS is a full fledged service firm, offering services in the areas of Book Keeping, Accounting, Payroll, Finance, Budgeting, Compliance and Consulting . It was set up in the fall of 2007 and since inception has expanded smartly with offices in Chicago, Bangalore and Delhi . SOATECH has a cumulative experience of over 50 years in F&A services backed by Chartered Accountants, Cost Accountants and MBAs with domain expertise . <ul><li>Our Achievements </li></ul><ul><li>Managed the administrative set up and support of </li></ul><ul><li>a Nasdaq listed company in India and handled </li></ul><ul><li>their entire gamut of F&A services. </li></ul><ul><li>Provided back office US QuickBooks Accounting </li></ul><ul><li>services to a leading BPO firm in the US , resulting </li></ul><ul><li>in substantial process improvements and lower costs. </li></ul><ul><li>Managed the compliance reporting functions for </li></ul><ul><li>one of the largest airlines in India. </li></ul><ul><li>Managed the F&A functions of a large BPO which </li></ul><ul><li>was migrating to SAP, during the transition phase. </li></ul><ul><li>Managed the feasibility study for a large glass </li></ul><ul><li>manufacturer for setting up factories in India. </li></ul>Client Speak “ Everything that we could've ever asked for, SOAIS delivered . Their commitment to excellence and customer satisfaction is unmatched, and their final product speaks for itself.” – Large Manufacturing Firm Administration Payroll Book Keeping B Online A Overnight P
  3. 3. WHY US ? Team Structure CLIENT CLIENT CLIENT Delivery Manager Exec 1 Exec 2 Exec 3 Exec 4 Our team is structured in a manner which allows for maximum flexibility with minimum risk of disruption caused by attrition. Each delivery manager is assigned to 3-4 clients max. depending upon the scope and size of the engagement. Each delivery manager has 4-5 accounts executive reporting to him/her, at 80% utilization. This allows the team to adhere to the TAT norms laid out under the SLA agreements, even during peak months. The executives are also rotated and trained on a periodic basis to ensure that their skill sets are up to the mark. Employee Speak Vision to be a one-stop Solution provider in Finance & Accounting with exemplary service record Backed by Chartered Accountants, Cost Accountants and MBAs with over 50 years exp. in Consulting & implementation Verifiable client base with high percentage return customers “ SOAIS provides me the right set of tools and resources to carry out my duties well. Its emphasis on articulation, attention to detail and learning resources is what sets it apart from other organizations of similar size and stature. Its job rotation policy also aids in making the job interesting as there is always something new to learn” – Nihar S. Sahoo
  5. 5. BENEFITS OF OUTSOURCING Now that we have deliberated on our people, process and clients, let us give you a brief of the benefits of engaging us as your service providers. We hope you find the information useful. Benefits <ul><ul><li>Save up to 40% of your time spent on non core </li></ul></ul><ul><ul><li>housekeeping activities </li></ul></ul><ul><ul><li>Reduce your cost and dependence on </li></ul></ul><ul><ul><li>vendors and expensive infrastructure through our web </li></ul></ul><ul><ul><li>enabled 24/7 monthly subscription services </li></ul></ul><ul><ul><li>Alleviate your fears of disruption through our </li></ul></ul><ul><ul><li>continuity assurance protected by SLA’s. </li></ul></ul><ul><ul><li>Avail of 24/7 on demand services for viewing reports </li></ul></ul><ul><ul><li>Get regular updates on important regulatory changes </li></ul></ul><ul><ul><li>Stringent security measures such as ISO certified </li></ul></ul><ul><ul><li>mirror servers and NDA norms for data security </li></ul></ul><ul><ul><li>Complete ownership of your transaction related </li></ul></ul><ul><ul><li>processes including AP/AR with periodic reports </li></ul></ul><ul><ul><li>Give a boost to your reporting efficiency by 25% by </li></ul></ul><ul><ul><li>focusing on your core activities and centralizing your </li></ul></ul><ul><ul><li>non core activities for better comparison and retrieval </li></ul></ul><ul><li>Ask Yourself </li></ul><ul><li>Do I spend a lot of time housekeeping and firefighting? </li></ul><ul><li>Do I find it difficult to manage deadlines? </li></ul><ul><li>Do my core activities suffer because of my other </li></ul><ul><li>engagements? </li></ul><ul><li>Do I find it difficult to receive my dues in time? </li></ul><ul><li>Is purchasing an expensive software upfront the solution or </li></ul><ul><li>are there other alternatives available? </li></ul><ul><li>Do I have an on demand financial snapshot of my corporate </li></ul><ul><li>transactions available? </li></ul><ul><li>How can I manage continuity without the fear of disruption </li></ul><ul><li>caused by attrition? </li></ul><ul><li>Do I have access to comparative reports to asses and plan </li></ul><ul><li>deployment of further resources? </li></ul><ul><li>What is the solution for increasing efficiency while </li></ul><ul><li>maintaining the existing cost structure? </li></ul>
  6. 6. DELIVERY METHADOLOGY Due Diligence Identification of service requirements Development of an implementation frameowrk after identification of risks, training requirments and service level support Conducting pilot studies and test runs Process Documentation (Which includes Goals, milestones And support) SLAs and Agreement sign off Implementation And live run MNCs/Large Enterprises 1 st month 2 nd month 3 rd month SMEs/SMBs 1-2 weeks 2-3 weeks 4 th week
  7. 7. SOAIS 2009 © All rights reserved SOAIS PAYROLL - INTRODUCTION Modular online payroll services based on SOA technologies <ul><li>What it saves you? </li></ul><ul><li>Truckloads of paperwork </li></ul><ul><li>High overheads on infrastructure </li></ul><ul><li>Complexity of managing systems </li></ul><ul><li>Burden of managing multiple vendors </li></ul><ul><li>A lot of time spent on manual processes </li></ul><ul><li>Support costs and bugs </li></ul><ul><li>A high level of involvement </li></ul><ul><li>High cost of enterprise software's </li></ul><ul><li>What it offers you? </li></ul><ul><li>Web based 24/7 access </li></ul><ul><li>Ease of scalability for any number of users </li></ul><ul><li>Minimum integration challenges </li></ul><ul><li>Regular updates and helpdesk support </li></ul><ul><li>Highly customizable friendly to use interface </li></ul>
  8. 8. SOAIS 2009 © All rights reserved SOAIS PAYROLL – COMPARATIVE ANALYSIS How is it better and different ? - - - - Easily integrated with other enterprise applications Highly customizable and interactive user interface Workflow enabled user access with rules Data tracing and forecasting ability Integrated modules from Induction to Payroll Structured division of functional fields Automates generation of forms and calculations Web Enabled Access SOAIS Conventional Core Parameters
  9. 9. What is workflow enabled ? Manual Workflow SOAIS PAYROLL – FEATURES Data Retrieval What is my leave balance? Consequence Data Storage Leave/Claim Application
  10. 10. What is workflow enabled ? Automated workflow SOAIS PAYROLL – FEATURES Data Storage Want to take a trip Let me check my leave balance Data Retrieval Consequence A healthy employee employer relationship Leave/Claim Application Approved
  11. 11. What about employees with no access to a computer ? For employees with no access to a computer, a kiosk can be set up at a central place at all regional and branch offices so employees can access their details . This will save both the employees and employer substantial time which can be put to more productive uses. SOAIS PAYROLL – REMOTE ACCESS
  12. 12. What other methods can be used to update employees at remote locations ? For updating employees at remote locations we have incorporated mobile integration solutions which allows the administrator/HR to send updates to employees through SMS . This will help employees keep up to date with various notifications, salary credits, announcements and event schedules . Send a notification for an upcoming meeting Done SOAIS PAYROLL – REMOTE ACCESS
  13. 13. What is the benefit of a hosted software ? The core benefit of a hosted software is high speed and low cost of implementation . For example, if a company has one hundred branches, an ordinary payroll application will have to be installed separately in all the 100 branches, even though the software might be web enabled. This is a very time consuming and cumbersome process, and might even lead to cost escalation with adequate infrastructure required to support the software. However, SOAIS offers a website where the payroll application is hosted and every employee is given a unique login id and password , just as you would log in to your personal mail. This saves a lot of time, effort and money (also incremental costs of owning software such as patches and AMC) for the company. Another big advantage is that a server’s computation speed is much faster than a normal computer . Thus for complex calculations , which might take ages for the normal computer to execute, the same can be achieved in a matter of seconds on a hosted platform. Single Installation Multiple installations SOAIS PAYROLL – HOSTING OPTION
  14. 14. What is the benefit of integration ? Integration predicates integrating the software with third party products and can also be integrated with other application surrounding the product . This helps automate the process and reduces manual intervention , which can be time consuming. For example, if a company is planning to develop a “Service Page Record” for all its employees and wants to develop an application to do this, then SOAIS will be in a position not just to develop the application but even to integrate it with the payroll software . Since the software is rule based , it can be customized to recognize the feeds provided to it by the service record application . This would be extremely beneficial if the company has different slabs for different workers as the slab rates can then be fed on to the rules field which will automate salary and tax computation . It can also be integrated with biometric devises thus automatically updating the employee register as soon as he/she signs in. SOAIS PAYROLL – EASE OF INTEGRATION
  15. 15. MODULE TREE PERSONNEL MANAGEMENT Manage employees Manage departments Manage locations EMPLOYEE PERFORMANCE Appraisals Normalization and communication Reports LEAVE MANAGEMENT SYSTEM Employee Manager Reports & Notification View leave balance Request leave Check entitlement View leave request Approve/Reject Request SELF SERVICE PORTAL WITH REPORTS Online pay slips Reimbursement & claim management Loan management PF statements IT Statement IT Declaration
  16. 16. MODULE TREE Training Management Modules Schedules Performance Recruitment Management Induction Profiling Reporting Payroll Administration Salary definitions Data Import/Export Taxes & Provision Slabs Formulas Excel Tally RDBMS Heads PT Computation PF Computation TDS Computation
  17. 17. KPI What are the key features and benefits ? Based on SOA Technologies Highly customizable and adaptable Workflow enabled rule based interface Tax categories defined by states Allows the edition of tax categories 24/7 online access with push features Allows assigning minimum and maximum values to different fields Integration with data push and seek features Search enabled with data forecasting Hosted application with induction to payroll modules Comes at one third the price of an enterprise application Protects the customer from risk of new version release Reduces the burden of paperwork and time devoted This accounts for differential PT rates in different states Helps align the software with new tax laws e.g. FBT abolition Allows employees to receive updates via SMS, declare returns Online, apply for leave online and submit reports online This is vital to ensure employee claims correspond to company policy and do not overshoot limits Can be easily integrated with other application even RFID and support date import/export to protect against manual entry Helps trace employees from different geographies and departments and allows forecasting tax liability Saves customer the trouble of investing heavily on infrastructure and managing various vendors
  18. 18. SOAIS PAYROLL – ACCOUNTABILITY <ul><li>Accountability </li></ul><ul><li>To be responsible for calculating PT, PF, ESI and TDS </li></ul><ul><li>To be responsible for all labour related compliance </li></ul><ul><li>w.r.t PT, PF, ESI & TDS </li></ul><ul><li>To manage and scrutinize employee tax saving </li></ul><ul><li>declarations and proof </li></ul><ul><li>To calculate taxes on perquisites extended </li></ul><ul><li>to employees </li></ul><ul><li>To provide consultancy to employees/admin on all </li></ul><ul><li>salary taxation matters </li></ul><ul><li>To prepare and file quarterly ETDS returns </li></ul><ul><li>To prepare and issue TDS certificates at year end for </li></ul><ul><li>employees with tax deduction and salary certificates </li></ul><ul><li>for employees without tax deduction </li></ul><ul><li>Send periodic e-mailers to educate employees on </li></ul><ul><li>different tax saving avenues and changes in taxation </li></ul><ul><li>laws </li></ul><ul><li>To provide helpline e-mail id to address employee </li></ul><ul><li>queries </li></ul><ul><li>Benefits </li></ul><ul><li>Attrition risk is completely eradicated </li></ul><ul><li>Continuity is protected by Stringent Service </li></ul><ul><li>Level Agreements </li></ul><ul><li>Client is regularly updated on regulatory </li></ul><ul><li>changes </li></ul><ul><li>Complete ownership of the process from </li></ul><ul><li>payslip generation to return filing </li></ul><ul><li>Senior management involvement reduces </li></ul><ul><li>substantially </li></ul>
  19. 19. CASE STUDY Can the process be explained through an example ? <ul><li>Problem Areas: </li></ul><ul><li>Newly set up office in India </li></ul><ul><li>driven by manual processes </li></ul><ul><li>HR manager sits in Canada </li></ul><ul><li>so leave and claim application </li></ul><ul><li>became cumbersome </li></ul><ul><li>Local admin was spending a </li></ul><ul><li>lot of time answering </li></ul><ul><li>employee queries </li></ul><ul><li>A lot of confusion over leave </li></ul><ul><li>calendar as the same was not </li></ul><ul><li>integrated with HO </li></ul><ul><li>General dissatisfaction </li></ul><ul><li>centering around HR </li></ul><ul><li>procedures </li></ul><ul><li>Solutions offered & Impact: </li></ul><ul><li>Business transformation through implementation </li></ul><ul><li>of SaaS enabled HRMS and Payroll package </li></ul><ul><li>with integrated modules </li></ul><ul><li>Workflow enabled package ensures smooth </li></ul><ul><li>leave/claim application and approval </li></ul><ul><li>Helps reduce Admin’s involvement by more </li></ul><ul><li>than 50%, which enables him to focus more </li></ul><ul><li>on core productive activities </li></ul><ul><li>Integration of leave calendar assisting in </li></ul><ul><li>scheduling and planning events </li></ul><ul><li>A much healthier work environment with clear </li></ul><ul><li>focus on deliverables rather than HR issues </li></ul>
  20. 20. SOAIS Advantage COMPETENCY
  21. 21. CONTACT Please contact any one of us for a discussion on your specific needs. Log on to the India Finance Community at: SOA IS “ Putting customers first” Gururaja Upendra VP - Operations Cell: +91 9880243025 [email_address] Corporate Office: Unit 9, Level 5 Navigator, I.T. Park Whitefield Road Bangalore – 560 066, India Tel: +91 80 40071234 SOATECH Solutions Pvt. Ltd. #406, 2 nd Flr, 9 th Cross, 2 nd Blk, R.T. Nagar, Bangalore – 32, India Tel: +91 80 40494545 Direct: +91 80 40494522 Fax: +91 80 40494517