soais payroll outsourcing[2]

SOAISPutting customer first

SOAIS 2009 © All rights reserved

PAYROLL OUTSOURCING 2.0


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.

Our Achievements

Managed the administrative set up and support of a Nasdaq listed company in India and handled their entire gamut of F&A services. Provided back office US QuickBooks Accounting services to a leading BPO firm in the US, resulting in substantial process improvements and lower costs. Managed the compliance reporting functions for one of the largest airlines in India. Managed the F&A functions of a large BPO which was migrating to SAP, during the transition phase. Managed the feasibility study for a large glass manufacturer for setting up factories in India.

Administration

PayrollBook Keeping

B

OnlineAOvernight

P

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


WHY US ?

Team Structure

CLIENT CLIENT CLIENT

Delivery Manager

Exec 1Exec 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. inConsulting & 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


CLIENT LIST


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

Save up to 40% of your time spent on non core housekeeping activities

Reduce your cost and dependence on vendors and expensive infrastructure through our web enabled 24/7 monthly subscription services

Alleviate your fears of disruption through our continuity assurance protected by SLA’s. Avail of 24/7 on demand services for viewing reports

Get regular updates on important regulatory changes

Stringent security measures such as ISO certified mirror servers and NDA norms for data security

Complete ownership of your transaction related processes including AP/AR with periodic reports

Give a boost to your reporting efficiency by 25% by focusing on your core activities and centralizing your non core activities for better comparison and retrieval

Ask Yourself

• Do I spend a lot of time housekeeping and firefighting?

• Do I find it difficult to manage deadlines?

• Do my core activities suffer because of my other engagements?

• Do I find it difficult to receive my dues in time?

• Is purchasing an expensive software upfront the solution or are there other alternatives available?

• Do I have an on demand financial snapshot of my corporate transactions available?

• How can I manage continuity without the fear of disruption caused by attrition?

• Do I have access to comparative reports to asses and plan deployment of further resources?

• What is the solution for increasing efficiency while maintaining the existing cost structure?


DELIVERY METHADOLOGY

Due Diligence

Identification of

service requirements

Development ofan implementationframeowrk afteridentification ofrisks, training requirments andservice level support

Conducting pilotstudies and testruns

Process Documentation (Which includesGoals, milestonesAnd support)SLAs and Agreement sign off

Implementation And live run

MNCs/Large Enterprises

1st month 2nd month 3rd month

SMEs/SMBs

1-2 weeks 2-3 weeks 4th week



SOAIS PAYROLL - INTRODUCTION

Modular online payroll services based on SOA technologiesWhat it saves you?

• Truckloads of paperwork• High overheads on infrastructure• Complexity of managing systems• Burden of managing multiple vendors• A lot of time spent on manual processes• Support costs and bugs• A high level of involvement • High cost of enterprise software's

What it offers you?

• Web based 24/7 access• Ease of scalability for any number of users• Minimum integration challenges• Regular updates and helpdesk support• Highly customizable friendly to use interface



SOAIS PAYROLL – COMPARATIVE ANALYSIS

How is it better and different ?

Core Parameters Conventional SOAIS

Web Enabled Access

Automates generation of forms and calculations

Structured division of functional fields

Data tracing and forecasting ability

Workflow enabled user access with rules

Highly customizable and interactive user interface

Easily integrated with other enterprise applications

Integrated modules from Induction to Payroll

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What is workflow enabled ?

Manual Workflow

Data Retrieval

What is my leave

balance?

Consequence

Data Storage

Leave/Claim Application

SOAIS PAYROLL – FEATURES


What is workflow enabled ?

Automated workflow Data Storage

Want to take a trip

Let me check my leave balance

Data RetrievalConsequence

A healthy employee employer relationship

Leave/Claim Application

Approved

SOAIS PAYROLL – FEATURES


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


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 meetingDone

SOAIS PAYROLL – REMOTE ACCESS


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


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


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 entitlementView leave request

Approve/Reject Request

SELF SERVICE PORTAL WITH REPORTS

Online pay slips

Reimbursement & claim management

Loan management

PF statements

IT Statement

IT Declaration


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


KPI

What are the key features and benefits ?Based on SOA Technologies Comes at one third the price of an enterprise application

Highly customizable and adaptable Protects the customer from risk of new version release

Workflow enabled rule based interface Reduces the burden of paperwork and time devoted

Tax categories defined by states This accounts for differential PT rates in different states

Allows the edition of tax categories Helps align the software with new tax laws e.g. FBT abolition

24/7 online access with push featuresAllows employees to receive updates via SMS, declare returns

Online, apply for leave online and submit reports online

Allows assigning minimum and maximum values to different fields

This is vital to ensure employee claims correspond to company policy and do not overshoot limits

Integration with data push and seek featuresCan be easily integrated with other application even RFID

and support date import/export to protect against manual entry

Search enabled with data forecastingHelps trace employees from different geographies and

departments and allows forecasting tax liability

Hosted application with induction to payroll modules

Saves customer the trouble of investing heavily oninfrastructure and managing various vendors


SOAIS PAYROLL – ACCOUNTABILITY

Accountability To be responsible for calculating PT, PF, ESI and TDS To be responsible for all labour related compliance w.r.t PT, PF, ESI & TDS To manage and scrutinize employee tax saving declarations and proof To calculate taxes on perquisites extended to employees To provide consultancy to employees/admin on all salary taxation matters To prepare and file quarterly ETDS returns To prepare and issue TDS certificates at year end for employees with tax deduction and salary certificates for employees without tax deduction Send periodic e-mailers to educate employees on different tax saving avenues and changes in taxation laws To provide helpline e-mail id to address employee queries

Benefits Attrition risk is completely eradicated Continuity is protected by Stringent Service Level Agreements Client is regularly updated on regulatory changes Complete ownership of the process from payslip generation to return filing Senior management involvement reduces substantially


CASE STUDY

Can the process be explained through an example ?

Problem Areas:

• Newly set up office in India driven by manual processes

• HR manager sits in Canada so leave and claim application became cumbersome

• Local admin was spending a lot of time answering employee queries

• A lot of confusion over leave calendar as the same was not integrated with HO

• General dissatisfaction centering around HR procedures

Solutions offered & Impact:

• Business transformation through implementation of SaaS enabled HRMS and Payroll package with integrated modules

• Workflow enabled package ensures smooth leave/claim application and approval

• Helps reduce Admin’s involvement by more than 50%, which enables him to focus more on core productive activities

• Integration of leave calendar assisting in scheduling and planning events

• A much healthier work environment with clear focus on deliverables rather than HR issues


SOAIS Advantage

COMPETENCY


CONTACT

Please contact any one of us for a discussion on your specific needs.

Log on to the India Finance Community at:

www.indiafinance.ning.com

SOAISwww.soais.com“Putting customers first”

Gururaja UpendraVP - OperationsCell: +91 [email protected]

Corporate Office:Unit 9, Level 5Navigator, I.T. ParkWhitefield RoadBangalore – 560 066, IndiaTel: +91 80 40071234

SOATECH Solutions Pvt. Ltd.#406, 2nd Flr, 9th Cross, 2nd Blk,R.T. Nagar, Bangalore – 32, IndiaTel: +91 80 40494545Direct: +91 80 40494522Fax: +91 80 40494517

soais payroll outsourcing[2]

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