THE ROLE OF TECHNOLOGY IN MODERNIZING PAYROLL AND INVENTORY MANAGEMENT

AUTHOR – GOURI G.S , STUDENT OF PGDM- HR & MARKETING GIBS BUSINESS SCHOOL, BANGLORE

 BEST CITATION – GOURI G.S, THE ROLE OF TECHNOLOGY IN MODERNIZING PAYROLL AND INVENTORY MANAGEMENT, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (1) OF 2025, PG. 781-789, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

Technology is changing how businesses operate in areas, like payroll and managing inventory by using tools such as cloud based systems and technologies, like intelligence (AI) machine learning (ML) and blockchain to improve efficiency and accuracy while also tackling scalability issues that can affect finances and customer service. 

This research explores how businesses adopt and use cutting edge technologies, for managing payroll and inventory by emphasizing advantages like monitoring of operations and predictive analytics that automate tasks and improve decision making processes while also recognizing challenges including expensive setup costs and a shortage of skilled personnel as well, as resistance to change within organizations. All factors that can impede the full utilization of these advancements by small to medium sized enterprises (SMEs).

Based on real life examples and expert opinions, from the field the report seeks to connect the gap between what technology can do and how its actually used in practice. It highlights the effects of using tools such, as how it affects company culture, employee interactions and environmental sustainability. As companies deal with paced changes and changing customer needs the results stress how crucial it is to incorporate strong and flexible tech solutions to stay ahead in the competition. 

This research offers suggestions to help leaders gain the insights and tactics required for implementing digital advancements in payroll and inventory control systems.

KEYWORDS – Technology adoption,  Payroll management, Inventory management , Digital transformation, Operational efficiency