What is the Working Procedure of Payroll Software for Company HR System?

We are here to find how payroll activities are handled by a computer application. And, in order to understand it finely, firstly we have to understand what is payroll When we talk about any system, we mostly consider it as an offline or online application. But in several cases, the systems have a wider perspective rather than online and offline. They come with a much broader set of activities and structures. For instance, production systems, train systems etc. However, with the Payroll System, we are considering a whole different thing here. We are here to find how payroll activities are handled by a computer application. And, in order to understand it finely, firstly we have to understand what is payroll. The process following which an employer pays his employees for the work done called ...

Sabka Vishvas (Legal Dispute Resolution) Scheme, 2019

The Finance Minister in her maiden budget introduced Sabka Vishwas (Legacy Dispute Resolution) 2019 (LDRS) in order to “unload the baggage of more than INR 3.75 lakh crores blocked in litigation in service tax and excise and allow the business to move on”. This will allow quick closure of pre-GST litigation. The objective of the scheme is to provide one time measure for liquidation of past disputes of Central Excise and Service Tax and also to provide an opportunity of voluntary disclosure to non-compliant taxpayers. Effective Date of LDRS: The effective date will be notified in the official Gazette. Application procedure: Applications/ declarations to opt for the scheme need to be made on the CBIC portal (https://cbic.gst.gov.in); Benefits of the Scheme are as follows: Total waiver of int...

Data Lakes vs. Data Warehouses: Debunking the Top 3 Myths

Data storage isn’t as simple as it once seemed. Intricate machines and technologies now collect an incredible breadth of data — over 2.5 quintillion bytes every day! — from equipment sensors, logs, users, consumers, and elsewhere. All of that data must go somewhere and be stored in a way that allows businesses to leverage it. Considering the volume and variety of data available today, quite a few misconceptions exist about the ways in which data can be stored. Today we’ll tackle common myths about two popular types of data storage: data lakes and data warehouses. And don’t miss our infographic below demystifying the differences between data lakes and data warehouses. Myth #1: You Only Need One Or The Other Nowadays you often hear people talk about data lakes and data warehouses as if busin...

Easyport – Trying to solve for freight issues in agriculture and MSMEs with one click truck booking service!

During the NIPP challenge in June 2019, I met a start-up whose founder a passionate engineering student from Bhopal was keen on solving the freight issues faced by agriculture and MSMEs. And he seems to be solving it with his freight mobility application ‘Easyport’, which was launched in February 2019. This young student entrepreneur is Atharva Kulkarni, founder of SmartUp, whose EasyPort app is trying to solve the truck booking (freight) problems for agriculture and MSMEs in tier 2, 3 & 4.   The Indian Freight Market In India, road remains the most preferred mode of travel despite its notional cost disadvantage, considering it is more reliable compared to rail and waterways. Though the demand for road freight is high and increasing, on the supply side the market is highly fragmented w...

Indian companies are investing in HR technologies to automate tasks and cut costs

Nearly 70% of firms in the country have automated half of their HR functions, including day-to-day operations like performance management, recruitments, collaboration and communication. Their core objectives to automate these processes are to increase the effectiveness of the HR functions, empower leaders to manage workflows, improve execution/implementation of HR policies and saving on costs being the main reason behind the investment. The findings are from State of Human Resource Technology India 2019-’20 report published by People Matters, a Gurugram-based multimedia organisation specialising in human resource services, after reaching out to 250 multinational companies and small and medium businesses in the country between June and July to identify key trends in the sector. When evaluat...

Tech Invest Forum: India’s Innovation Quotient Gets A Fillip Thanks To Creative Business Solutions With High-Investment Potential

It is an exciting time to be a product startup in India. The country is among the hottest innovation hubs in the world – thanks to a growing talent pool, seasoned investors and a strong impetus from the government for socially impactful innovation. Investors and product startups believe that the time is ripe for robust support systems in the form of investments for startups to become market-ready and further enable digitisation. Given the highly competitive nature of the Indian startup ecosystem, it is imperative that startups find the right investors, and can seamlessly accelerate their growth potential. As of last year alone, investments in deep tech touched US4248mn, twice the amount invested in 2017 – and many believe this is due to the increase in demand for technologies like AI &...

Leader Talk: Interview with Minesh Doshi, Director, Silver Touch Technologies

1. The company has been around for a very long time. Please share your thoughts on how the landscape has shaped up, laying emphasis on digital disruption. How differently are you doing things now? Yes, it has indeed been a very long journey especially after having started from a Tier 2 city (Ahmedabad) where the ecosystem leaves a lot to be desired. Later on, we expanded to Mumbai, Delhi, USA, UK and France. Moreover, our footprints spread across smaller Indian cities as well, to include Surat, Baroda, Lucknow, Chandigarh, Kolkata and Bangalore. The first decade was about learning, and consolidation followed afterwards. During the second decade, after having strengthened our base we started to expand. The last 3 years have been particularly memorable for us. A well-directed strategy helped...

Taking Agility a Step Ahead with Microservices

Traditional IT architecture operates generally on single application databases, and adding new features on to pre-existing, tightly coupled dependencies is hard, since the entire structure is managed as a unique package. But it doesn’t have to be that way. Within a microservices architecture, each feature is independent of all others, and free from the siloed approach. An API or message bus is utilized to enable asynchronous communication within that ecosystem. Monolith Vs Microservices With legacy architecture, you essentially sign up for large monolithic packages that can be challenging to deploy. If that wasn’t enough, this comes with tricky configurations too, leading developers to deploy these packages seldom, just about once every few weeks or months. Microservices, on the other hand...

TechVoice: A Conundrum called “Business Requirement Document” alias “BRD”

Dr. Chandrika Kambam, Vice President – Clinical Services, Columbia Asia Group of Hospitals, on developing robust IT infrastructure in hospitals in line with their immediate needs Over the last couple of years, I had an opportunity to work closely with information technology (IT) team on various initiatives that we undertook to improve and support our business processes. I was the bridge between the team that executed the services on the ground and the technology team that put these systems in place. What I have observed is that very few systems meet 100% customer expectations in one go. There are always reiterations, innumerable versions of the systems that are released, before it meets even 90% of the end user needs. As I reflect on the various reasons for this, I was surprised to r...

Voice-based solutions are everywhere – Its time to realize their potential

Voice-based solutions are for everyone I was watching TV over the weekend when my daughter, who is eight years old, came to me and asked if she could have my phone for some time. Assuming she would want to talk to her grandmother, I gave her my phone. After a while I could hear her talking to someone but it was definitely not her grandmother. From a distance I could hear a lady on the other side talking to my daughter in British English accent. A bit worried, and to check if she had mistakenly called someone in the UK, I entered her room. I was surprised to see that she was talking to Google Assistant on my phone and was using it quite well to get information related to her school homework. I was impressed and asked her who taught her to use Google Assistant, to which she innocently answer...