Payroll management software is a common sight throughout the business world. Offering simplified payroll processing, remote accessibility, and automated deduction & calculations, it’s no wonder why so many companies are making the transition from using outdated manual processes to software-based solutions instead. If you’ve been considering payroll processing software for your company but haven’t quite decided yet, here are ten simple observations that might help you decide where you stand!
- You’ll Have Options
Unlike the computer industry, the world of payroll management software isn’t ultimately dominated by only a few companies. In fact, there are literally dozens of payroll providers for you to choose from! It’s worth taking the time to compare software providers since every platform has its own unique set of advantages and disadvantages.
- Pricing Is Often Based on a Per-Employee Model
In general, online payroll management software will offer a variety of payroll plans, advertising both a base plan price and a per-employee fee. You will need to pay the base plan price no matter what, but each employee you add to your payroll will cost you as well. Fortunately, the per-employee cost is usually low, often costing less than $5 per employee!
- Not All Systems Are Created Equally
While it may be tempting to choose name-brand software and just go with it, this may not be the smartest approach. Often, different software companies are designed to meet different needs, meaning the perfect software solution for one company may not be ideal for another. For example, ADP is a full-service payroll platform that’s great for large businesses thanks to its various integration abilities, but the company as a whole is somewhat lacking in their customer service department. Since smaller businesses often rely on customer support to address and answer any questions/concerns they may have, a far better choice would be UZIO, a system perfect for SMBs thanks to its straightforward pricing, simplified interface, and excellent customer support system.
- Onboarding Won’t Require Heaps of Paperwork
SMB owners who actively avoid onboarding can take a deep breath. HR solutions are used to onboard new hires digitally, acquiring employee information that is then synced with the payroll software to complete the onboarding process. By reducing the amount of duplicate information that needs to be entered, the entire process can be completed within a much shorter time frame.
- Time Card Fraud is Easy to Prevent
Physical time cards are easy to alter, enabling dishonest employees to boost their paychecks at will. Unfortunately for them, that isn’t a possibility with a digital payroll system that uses T&A (Time & Attendance) software to log employee hours. Clock in/clock outs are time-stamped and instantly recorded, stored securely within the system safe from after-the-fact alterations.
- You Won’t Have to Research Applicable Tax Laws
If you hate trying to stay up-to-date with the latest federal, state, and local income taxes, there’s good news—you no longer have to! Payroll software compares your employee information against its database of current tax rate information to accurately apply the necessary deductions to each paycheck, reducing the time needed to process your payroll.
- Payroll Distribution is Automated
The days of manual payroll distribution are behind us. When you use payroll management software, the system will automatically distribute paychecks on payday, ensuring each and every employee is properly compensated for their time, on time.
- HR & Payroll Can Use the Same System
Using complete payroll solutions provides an easy way to connect your HR department to your payroll department. These types of systems can manage data for both departments, allowing relevant information to be instantly accessible on a single platform by employees from both departments in only a couple of clicks.
- This Software Can Manage Your Employee’s Benefits
Rather than filling out more paperwork every time an employee wants to update, amend, or cancel their benefits, employees can easily view and manage their benefits online using the payroll management software. This type of self-service allows them to be in complete control of their benefits, saving them the trouble of making an HR appointment.
- Many Systems Offer Mobile Solutions
Cloud-based solutions allow employees to access payroll and HR information from any company device, but many systems take it one step further by offering dedicated mobile apps. These apps often offer a variety of features such as remote clock in/clock outs and remote paystub viewing.
Payroll processing software provides small businesses with an effective and efficient way to manage their payroll without dealing with the complications and calculations of manual processes. If managing payroll on your own is constantly getting in the way of expanding your business, it’s surely time to consider enabling your company to succeed using software solutions instead.
About Author: Mohd Sohel Ather is digital and content marketing expert. He is a software engineer by profession, having done his B.E in Computer Sciences. A passionate and highly skilled technical blogger.