Since a long ago, every Human resource globally has encountered a similar problem: payroll processing. Companies have acknowledged this problem's importance and devised methods to make Payroll more convenient. For small and medium businesses, Payroll Software is now accessible and reasonable. Moreover, we are here to discuss the comparison between sumHR and RazorpayX, one of the most prominent HR software in the market.
- sumHR: sumHR software is indeed an HRM system that is hosted in the cloud. Startups and small businesses may use the program to automate their Payroll and HR logistics. It allows you to get valuable data from any location on the planet. The present excel-based conventional payroll management procedure can be automated. sumHR's customers can now integrate biometrics interfaces to analyze employee records.
- RazorpayX: RazorpayX is India's brand new and most potential payroll software for startups and small companies. It is a unique Human resource software that automates payroll transactions to any bank throughout India while also handling payouts and reporting all standards.
Aside from that, RazorpayX is entirely free without any restrictions since you gain the maiden three months Plan of Pro for free without any strings attached. RazorpayX Payroll has become India's renowned Payroll and HR Software because of its good features.
Contractors and Employees are paid straight away to their bank accounts using RazorpayX Payroll, which determines and delivers them by default. It also handles the required deductions depending on leaves, tax bracket, etc. On handling payroll, users are able to add incentives for workers. Staff's UAN numbers are generated automatically by the program and registered for ESI. And employee enrollment and leave processes are likewise automated.
- Attendance Management: Users can use the program to plan and organize shifts and maintain records of their staff's attendance.
- Leave Management: Managers and employers can save time by electronically managing the leave permission processes.
- Payroll Management: sumHR Payroll allows users to import and return data in an ordered spreadsheet format.
- Employee Database: Stores employee information online for simple navigation at any leisure.
- Taxation Management: Using the program, customers can handle and compute their workers' and organisations' taxes.
- Employee Lifecycle Management: Tracks employees' entire work lifecycle to schedule their development and advancement.
- Shift Management: This allows users to easily organize and monitor individual staff schedules.
- Helpdesk Management: This allows businesses to give adequate help desk support to their staff.
- Asset Management: Customers can monitor objects' location and maintenance requirements with this system.
- Learning Management: Produces instructional methods for each worker to attain the desired learning results.
- ESI, PT, PF, and TDS compliance payments, as well as their quarterly return filings, are all automated by RazorpayX. Razorpay also calculates TDS depending on tax filings filed and the tax regime selected by the individuals.
- RazorpayX Payroll removes the necessity to physically handle staff leave requests. It tracks attendance instantaneously and manages leave via online or biometric technologies.
- Using RazorpayX Payroll, companies can automate employee compensation transactions from entry to calculation and settlement.
- The RazorpayX Payroll interface makes it simple for staff to request compensation and file bills. The funds are automatically sent to the individual's bank account after management review and authorize the reimbursements.
- Upon this RazorpayX Payroll interface, HR, Finance departments, and business owners may obtain precise information and data in one spot. Payment and HR registrations, PT or ESI or PF challans, employee documentation, and much more are included in the files.
- RazorpayX Payroll provides smaller firms and startups with health insurance tailored to their needs.
- With just two employees, automated insurance management is possible.
- From day one, insurance for pre-existing conditions, Newborns, and maternity is included.
- Collaboration with over 6500 Indian health care organisations that accept cashless claims.
- Employees can contact any time with inquiries or claims via email, phone, or text message.
- By connecting to the RazorpayX Payroll portal, your workers can easily view their payment details and Form 16 and disclose investments.
- Using RazorpayX Payroll, users can complete their regular Payroll in under 10 minutes.
How is sumHR unique from RazorpayX?
- SumHR role in payroll management
The service allows customers to keep track of departing workers complete and final payouts in one spot. Customers can simply organise and establish even the most complicated payroll activities employing sumHR and perform the whole payment processing system in just a few clicks.
Employee wage structures can be managed with the help of sumHR’s HRIS software. With the aid of such a Payroll and HR administration system, businesses can develop and work many wage structures depending on various payroll components for distinct job categories. Loan or advance salary distributions are simple to administer. Employees have the option of declaring or submitting documentation of their tax-saving transactions.
- Employee Management
Through the crucial mechanism of staff management, sumHR allows its customers to keep safe and flexible interaction between the employees in the firm. Employees can use the self-service platform to build profiles, submit HR papers, and guarantee a seamless leave using off-boarding criteria.
Both iPhone and Android users can use the sumHR mobile application. It possesses the following characteristics:
- Each individual's profile includes their employee number, photo, and other data.
- Constructs a centralised interface for every HR inquiry to be submitted, approved, and managed.
- To possess rapid exposure to your peers, create an online listing.
- Attendance tracking using GPS to make field visits easier to track.
- Geo-tracking provides elders with location information.
- Create expenditure reports and pay bills from anywhere.
- HR-oriented data is safely stored in the predefined storage.
The salary account has several add-on features that include;
- A free account with zero balance & free debit card both were lifetime opportunities. All UPI and debit card transactions get 1% cashback.
- Along with the Personal Finance management software, you can also access Debt tracker, MF tracker, Insights, and Pots.
- Immediately exchange your points for Gold or Cash.
- ICICI Lombard provides free health coverage of a 2 Lakh basic plan OR a 20 Lakh. super top-up with a 3 Lakh barrier
- More incentives on spending as well as exclusive deals.
- Convert your awards into cash or digital currency in real-time.
- There are no FX fees if you contribute up to 1 Lakh monthly.
- On-demand Salary. Pay yourself on any given day.
With sumHR, your salary account is backed by
- Maximum Trust: sumHR adopts an RBI-approved bank to manage your account.
- Maximum Security: They will provide Bank-grade protection for your account with PCI and ISO compliance.
- Maximum Safety: Your funds are insured with a maximum of 5 lakhs.
The following benefits are covered by health insurance:
- Inpatient hospitalization charges can go cashless.
- Inpatient medication costs for COVID19
- Pre-hospitalization charges for a month (30 days) and post-hospitalization expenses for two months (60 days).
- 150 daycare medications
- Expenses for ambulance services of up to 2500 INR for every hospitalisation
- Every year, there are two online consultations.
Additionally employees have access to on demand salary & 1% cashback using their salary accounts.
- Pricing Guide
The sumHR offers a FREE FOREVER PLAN with built in Salary Accounts
Perks of Implementing sumHR
sumHR can help you expedite your HR mechanism by keeping track of payroll, Leaves and Monitor Attendance, and reimbursements reviews. The following are some of the advantages of utilizing sumHR software:
- Management can preserve a precise record of their workers' attendance.
- sumHR aids human resource Accountants and Executives in tax computation and bonus management.
- It makes the procedure of separation and total and conclusive settlement easier.
- Employees are evaluated regularly.
- Monitoring and recruiting candidates.
Note that, while both SumHR and RazorpayX Payroll have an impressive set of capabilities, each solution was designed for a particular organization size. When comparing features, consider the company type for which they are intended. Certain functions may build up easily for large organizations.
Additionally sumHR has launched a free version of the all in one HRMS. Get started here
Frequently Asked Questions
- Who is eligible to adopt sumHR software?
E-Commerce, Education, Retail, and ITES enterprises can benefit from sumHR software. You can get started for free.
- What are some of the software's services?
The program provides HRM services such as Payroll processing, Employee Profile, data management, and attendance and leave management.
- Is payroll facility included in sumHR software?
Yes, sumHR has payroll tools that aid in managing Loans and Advances, Overtime, bonuses, and Salary.
- Is the sumHR software convenient to use?
Yes, the sumHR software is simple to set up and operate, and anyone can do so without any hassles.
- Is the sumHR app available for download on mobile?
sumHR is available for download for both Android and iOS smartphones.