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Pagarbook is an employee work time & attendance salary management mobile app that has drawn the attention of small business owners across India. Pagarbook can be broadly categorized as a type of Human Resource Management Software (HRMS) more suited for the small businesses. The app has registered more than 5 million downloads and has already bagged $15 million in series A funding from Sequoia capital.

The eye-popping numbers of Pagarbook have attracted many budding entrepreneurs towards the idea of building their own app like Pagarbook. A question that intrigues most businesspersons willing to develop an app like Pagarbook is the cost of building an app like Pagarbook. This article would address this question and briefly look at other aspects of an online payroll management app like Pagarbook.

Increasing demand for HRMS based Employee Payroll Management System

Before Pagarbook, there was no customized employee attendance and payroll management software for India’s estimated 42.5 million small and medium scale enterprises. Managing employee payrolls in the unorganized sector like small-scale industries can prove to be a hefty task, and most of the small business owners are not educated enough to use complicated software.

The need was for a simple solution that was easy to use. According to Siva Prasad, the Senior Vice President of Sales & Marketing for Pagarbook, “We definitely knew that there is a problem with the way people manage their staff and employees and the payroll management system, but we didn’t expect that it’s such a big problem that people would accept our product this fast and at this scale,”

Benefits of integrating employee time and attendance management software like PagarBook

The following are Businesses need an HRMS to manage all the aspects related to an employee. Employee salary management, employee’s time and attendance tracking and management, payroll and payslip management, employee leave application and approval, and reimbursement process management are some of the very common process that can be managed efficiently using employee management app like Pagarbook.

Let’s have a look at the significant advantages of an employee management software

Happy Employees

A study found out that around half of U.S. workers would leave their jobs after two paycheck errors. The rate is phenomenal, considering how difficult it is to hire new employees. One of the significant benefits of employee payroll management software is that it helps companies attain a high employee retention rate.

A sound payroll management system allows a business to keep its promise of on-time compensation to its employees. A good payroll management app like Pagarbook helps entrepreneurs eliminate the possibility of payroll errors.

Stress free process

Pagarbook makes payroll tracking pretty easy and eliminates the stress from the process. For small businesses, the task of tracking a basic payroll for even a small number of employees can prove to be a tedious task.

Avoid costly errors

Companies have to consider various factors like the work hours of each employee, overtime, sick leaves, pay rates, advance given, etc. As there are many factors involved in managing the payroll, the possibility of an error in payroll multiplies. Even a simple typo or a misplaced decimal while entering data can wreak havoc on the company’s finances. An employee payroll management system can help a business avoid such costly errors and also help them save money.

Save money on taxes

A dedicated salary management system can help entrepreneurs pay their taxes under the prevailing taxation laws. By paying the correct amount of taxes on time, entrepreneurs can avoid costly penalties. Having a HR management software to timely help with such matters, the HR and accounting department won’t be wasting time correcting payroll errors. The American Payroll Association estimates that the efficiency provided by payroll processing systems helps in reducing payroll processing costs by up to 80%.

Makes the process fast

A payroll app makes the entire process of payroll management quicker. Preparing various reports like salary register, leave reports of employees, tax reports is very fast with a payroll app and entrepreneurs can scroll through the reports on-the-go on their mobile phones as well. The payroll management app built will help inreducing the efficiency of all the employees and their respective managers.

The best Employee Payroll Management Software in the market

There are a few notable apps that are working in the same domain as Pagarbook. Let’s have a look at some apps which are similar to Pagarbook.

  • QuickBooks Payroll
  • Paychex Flex
  • Khatabook
  • OKCredit
  • OnPay
  • Square Payroll
  • Patriot Payroll
  • Justworks
  • SurePayroll
  • greytHR
  • BambooHR

Let’s now have a look at some of the specific features provided by the leading employee payroll management applications that are providing a stiff competition to Pagarbook.

Khatabook

Khatabook is more of a bookkeeping mobile app than a payroll management system. Khatabook has empowered small business owners by allowing them to maintain their debtor-creditor standings in a hassle-free manner. The owners at Khatabook have made the app available in 11 different languages to eliminate the language barrier. A pretty convenient feature of Khatabook is that it enables the shopkeepers to send updates for every transaction to their customers via free SMS.

Some notable features of Khatabook

  • Download PDF reports of customers
  • Set reminder dates for due payments
  • Security for account books with an app lock feature
  • Allows shopkeepers to accept payments from their customers through UPI ID

OKCredit

Similar to Khatabook, OkCredit also aims to simplify the process of accounting for small shopkeepers. An exciting thing about OKCredit is that the information about a transaction reaches both parties via free SMS, which accords high transparency to the business process.

The notable features of OKCredit

  • Simple UI
  • Allows customers to view the transaction history by clicking on the link sent on Whatsapp/SMS
  • Secure app with password protection

BambooHR

BambooHR is one of the most popular HR management apps. The company focuses specifically on small and medium-scale businesses. The idea behind BambooHR is to help SMBs make the transition from spreadsheets to software and allow them to free up time to do more meaningful work.

The following are the major features of BambooHR

  • Centralized employee database
  • Applicant tracking system
  • Document storage and management
  • eSignature

Quickbooks Intuit

Quickbooks is an HR management solution from the house of Intuit. The company has more than 200,000 customers and has established itself as one of the major HR management solution providers in the industry. Quickbooks has a mobile app for payroll management called as the Intuit app.

Features of Intuit app

  • Pay taxes online
  • Run payroll anywhere
  • View paycheck history

Continue Reading: Cost to Develop an Employee Payroll Management App like PagarBook

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