Alternative for payroll processing and salary slip generation.

1. Alternative to Spreadsheets for
Payroll Management

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. Various options to handle payroll
Manual Spreadsheet Desktop Software
Do it the old fashioned
manual way with pen and
paper
TEDIOUS.
OUTDATED.
UN-PRODUCTIVE.
Download an Excel
spreadsheet from the
Internet and get going
FREE.
FAST.
COMFORTABLE.
Get a specialized software to
automate payroll processing
COSTLY.
NEEDS SUPPORT.
BUGS.
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. A Spreadsheet can be an inappropriate tool for this 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.html
June 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. To know more about the problems & risks of spreadsheets, check out:
http://www.eusprig.org/stories.htm
http://www.eusprig.org/horror-stories.htm
Encyclopedia of spreadsheet risks

10. If you’re still keen 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
http://www.eusprig.org/best-practice.htm

11. But, what if we told you that
there is an
EASIER, CHEAPER, BETTER way?

12. The better way
Imagine the ideal situation.
Say, you want to process payroll for August.

13. Click a button. August payroll is ready!

14. With one click, your salary slips are ready to print!

15. Bank statement? Here you go

16. JV for accounts dept? It’s all done.

17. And more..
▶ 100% accuracy in calculations/ statutory deductions
▶ YTD statements
▶ Compare August payroll with July payroll? It’s easy
▶ 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

18. About greytHR
▶ More than 20 years of industry experience in HR and Payroll
▶ Over 4000 clients in India, the Middle East, Singapore & Malaysia
(https://www.greythr.com/in/customers/)
▶ Managing 700,000 employee records daily

19. “One of the Best HRIS Tool in
terms of features, pricing,
support.”
BALAJI JANYAVULA, Manager –
HR
Clove Technologies (P) Ltd.
“I can say greytHR is a
tailor-made solution for Payroll,
Leave & HR Management.”
PAVAN, Assistant Manager
Sensa Core Medical Instrumentation
Pvt Ltd
“Be it statutory upgrades, reporting necessities, availability of different
formats to download, etc. the application provides end-to-end
solutions.”
VENKATESH KRISHNAN, CEO, Greenpay
Customer Testimonial

20. ▶ greytHR automates your HR and Payroll process
▶ A better alternative to spreadsheets
▶ A wide range of features & benefits
Signup for a
trial account
(as easy as opening a mail account)
Login, checkout
all the features
(30-day trial without any obligations)
Contact us and get the
best suited account for
your business
(hosted on AWS)
Step #2
Step #3
Step #1
Summary

21. For more details, check out
https://www.greythr.com/in/
For any queries, write to us at info@greytip.com
Thank you