Staffing industry innovations have revolutionized the way business is done worldwide, so how can India be far behind?  Companies are choosing to focus on their core business and have specialists to handle their payroll, accounting, temporary staffing as well as income tax returns.  The needs of the businesses keep changing according to the demand for products and services, and creating permanent overheads are just not viable as far as sustaining the business is concerned.  Dealing with the formalities involved in recruitment, accounting requirements for a temporary rise in sales, complying with the statutory requirements regarding payment of salaries as well income tax is a responsibility that companies look forward to delegating to a specialist service provider.    Temp Staffing Services In India

What Are the Most Anticipated Staffing Industry Innovations This Year?

Technology has been the game-changer when it comes to staffing industry innovations. Human Resource departments can now concentrate on the more important aspects of employee training and development as all services relating to employee payroll, accounting as well as income tax are handled by payroll service providers.  Let us examine the top staffing industry innovations in India when it comes to staffing trends for the year 2018 which would define the payroll outsourcing service industry: 

# Cloud-Based Payroll - the New Norm!

Thanks to cloud-based computing, accessing the payroll data through personal computers and mobile phones becomes extremely convenient.  There are multiple clients under one single account maintained by the outsourcing companies. Clients can log into their respective payroll data through features like 'my payroll' which is a web-based self-service portal provided by leading payroll outsourcing companies like Paysquare.  Employees can access their payslip and tax details through their computers as well as mobile apps. The HR, Finance as well as administration department can get MIS reports anytime through this portal.  Information regarding books of accounts as well as income tax returns can be accessed with the help of cloud-based computing services.

# Increased Outsourcing of Payroll Services

Businesses who are truly interested in ensuring that their employees are motivated and aligned with the goals of the company will step up their investment and pay greater attention to outsourcing their payroll process.  There will be exponential growth for existing players in the business who are providing services like accounting & bookkeeping, payroll, temporary staffing as well as income tax return filing. From induction of temporary staff to furnishing their statutory requirements like PF, ESI and so on to providing the relieve letter are all taken care of by providers like Paysquare. # Seamless System Integration The entire payroll process will be seamlessly integrated with the online banking processes, accounting software as well as the concerned HR systems.

# Higher Efficiency with Competition

With growing demand for payroll outsourcing services, it is assumed to determine industry status in the future. There will be investments from venture capitalists, companies and individuals. Existing players like Paysquare will upgrade their services to the next level and there will be new entrants in the market.

# Anytime Access to Information

With cloud-based computing, both employers and employees will be able to access their salary data and tax calculations with complete transparency.  

# Compliance with Tax Laws

The responsibility of compliance with the tax laws and filing of income tax returns will now be shifted to the outsourcing agency, which is quite a complicated process given the frequent changes in the existing tax laws. 

# Cost-reduction with Technology

With advancement in technology, there will a reduction in the cost of cloud computing as well as payroll outsourcing. 

Profit by Focusing on Your Strengths!

If you feel you are not being able to focus on your strengths, then you need to give staffing industry innovations a serious thought.  With over 17 years of experience in the payroll outsourcing domain, Paysquare is one of the leading players with a diverse portfolio of clients ranging from consumer durables to healthcare sectors. You can concentrate on your core area and expand your business while Paysquare will take care of your accounting, tax, temp staffing and payroll responsibilities. 

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CA. Vipul Gandhi

Associate Director

Khandhar Mehta & Shah - Chartered Accountants

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on time! We

Parameshwer Matla

Human Resources

Columbus India

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on The most valuable service that we get from you is "peace of mind." I know that once I submit our payroll information, everything will happen on time, payroll, pay slips, statutory reports, full and final settlement, returns and I know that we are and will be always in compliance with statutory laws regarding payroll.

Ramakrishna Dabbara

Sr. Manager – Finance

Sumtotal Systems

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Abhijeet Shete

SENIOR MANAGER- HUMAN RESOURCE

Altra Industrial Motion India

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Sukesh Baban Dhage

Manager Accounts

Hi Tech BioSciences India Private Limited

On behalf of Hitech Bio Sciences India Pvt. Ltd., Hi Tech Bio Laboratories, Hi Tech Analytical Works & Hi Tech Biosynth Pvt. Ltd., we appreciate your dedication to provide Payroll services to our companies from the approximately last 4 years. We acknowledge the fact that due to COVID-19, situation has become really tough across the globe. We all are forced to stay at our homes and take extra care of ourselves along with family members. It is a privilege to acknowledge you and your consultancy’s efforts and recognize the valuable service that you have provided to us. 

It is always gratifying to work with such great people with extraordinary abilities to provide good and quality service. The kind of response from your side get is fabulous and most memorable with professional culture. Specifically we would like to mention that, your approach towards the client is fantastic, for e.g. response to email is very prompt, continuous touch with client, on time response to queries or questioners’, on time and accurate report sharing. Flexibility to client requirement, Client / customer centric approach etc. Timely payment of salary gives a lot of confidence to all employees and it is due to our partners like Paysquare that Hi tech has never defaulted on its commitment of timely payment of salaries.

Ratnakar Dhakad

Senior Operation Manager

Tecknack Technologies Private Limited

We are very impressed with Paysquare team due to their ability to process payroll very efficiently. We found the implementation team very knowledgeable, supportive and very systematic.

Paysquare is a very matured payroll processing solution and they have well paid down processes to manage first time as well as every month's processing.

Monica Shah

HR Business Partner India

Victaulic Piping Products India Private Limited

Honestly , It has been an amazing experience working with Payroll team as on date . Deepika and Uma has been a strong support to us. They have always been very helpful and co-operative. I congratulate them to run payroll with zero error every month. And I expect the same level of support in future. I am happy to be associated with Payroll team.

Seagate India

Manager

I have been a client of Paysquare for 7 years and their services are fantastic. Migration from the old consultant to Paysquare was seamless. Soon after the migration, Paysquare team was up the learning curve. They never missed the deadlines provided by us. The team is always reachable, and they keep us informed about changes in taxes or government policies which impact payroll. I have complete confidence and trust in their payroll solutions, and we will always recommend them. Any company looking to ease their payroll burden with friendly service and a flexible, secure system should partner with Paysquare.