It was business as usual at NNK & Co., a CA firm located in the heart of Bangalore.
Pradeep and Mathin - payroll specialists at the firm - struggled with the time-consuming task of processing payroll on Excel, as they did each month.
Issues with using Excel for payroll processing
They had the following concerns with processing payroll on Excel:
- Manual generation of payslips meant increased workload
- Increased chances of copy-paste errors creeping in
- Locating the latest data from various files became a matter of concern
- Need to regularly update all Excel formulae based on the latest statutory updates
- Tangible risk of loss of data due to viruses or system crashes
- Data accessibility and data sharing
Around the same time, most of NNK & Co.’s clients also started demanding for the use of a payroll software. In search of a cost-effective solution to simplify his payroll work, Navaneeth soon realized that a cloud-based payroll processing software could solve all the problems he faced.
greytHR: A positive review
During the process of evaluating various software available in the market, Navaneeth heard about greytHR from one of his friends - a finance professional at Texas Instruments. They had been using greytHR for a while now and were happy with it. Navaneeth soon decided to switch to greytHR.
The payroll module from greytHR’s extensive portfolio was exactly what they were looking for.
greytHR’s implementation team quickly assessed Navaneeth’s needs, their clients’ needs and other specifications. In no time, the Payroll module was rolled out for NNK & Co. The Implementation team also hand-held Pradeep and his colleagues for almost a month post roll-out to sort out queries and concerns.
Benefits enjoyed by NNK & Co.
Since its implementation in 2014, greytHR’s Payroll module has helped and benefited NNK & Co. in the following ways:
- Increase in the number of clients because of the efficiencies that greytHR has brought in
- 100% statutory compliance
- One-click payslip release
- One-time set up for accurate report generation
- Responsive support desk
- Reduction in workload through the elimination of redundant work
- User-friendly interface meant faster onboarding
- Expense claims reimbursement through the Employee Self Service (ESS) portal has brought in convenience and cost and time savings.
- Access to ESS for clients reduced the time spent by employees to access important information. They could access their payslip, reimbursement statement, leave policy, and declare their income tax savings plans and download Form 16 from anywhere, anytime.
About Navaneeth N. Kini and Co.
NNK & Co., a chartered accountancy firm based out of Bangalore, was set up in January 1998 to render auditing and taxation services to their clients. They handle end-to-end processes, including registration, accounting, payroll, income tax, etc.
For more information about their services, visit: http://www.nnkandco.com.