5 Tips for Choosing the Best Payroll Software
Companies are increasingly using specialized payroll software to pay their employees thanks to its flexible administration, automated processes, and other benefits. Whether your business is hoping to simplify payroll and save money or make it easier to create advanced payroll reports, there are several factors to consider when choosing payroll software. Here is a closer look at five elements of a quality payroll solution.
A Designated Payroll Specialist
As you evaluate payroll software providers, it's important to ask what human resource talent they have to support your business. A payroll provider that offers a designated payroll specialist that serves as your point of contact may be the best choice for your business needs. Your contact can work with you to address your unique business needs, tax considerations, specialized payroll set up, and more. It's also helpful to have access to knowledgeable individuals who can assist with processes such as onboarding new employees. A designated payroll specialist gives you the confidence that payroll questions can be readily addressed, and that the payroll provider is a customer-oriented business.
Cutting-Edge Software Functionality
Major trends are changing today's payroll software environment. Payroll software is migrating from locally stored software on company computers to being hosted in the cloud. Choosing a cloud-hosted program with mobile integration gives your managers the ability to approve and process payroll from anywhere as business moves beyond the office. At the same time, employees have access to their information online which may minimize routine questions to your HR staff. Cutting-edge software also makes it simple to access information from a single dashboard and enhances reporting and data analysis capabilities. Look for software with an interface that's intuitive and easy to use, and streamlines the payroll process for all your company's stakeholders.
Full Business Process Integration
Whether an in-house member of your team will handle the processing each period or you're looking for a solution to bundle with outsourcing, it's also helpful to consider the bigger picture. Does the software that you're considering integrate easily with other essential software packages your business uses, from accounting programs to employee benefits programs, to recruiting and background check services for onboarding processes? The more integrated your business processes are, the less time you'll spend on administration and the more accurate your information will be.
Customizable to Your Unique Business Needs
Payroll software solutions that take a "one size fits all approach" are rarely a good investment. Today's regulatory environment, tax regulations, and employment situations are too diverse. Instead, it's important to choose software that can be customized to your unique business needs, whether that's accommodating different payroll schedules or supporting specialized tax reporting. A flexible software package will also scale with your business over time.
Streamlined Process and Ease of Use
When choosing payroll software, it's important to evaluate the workflow. Does the software have options that automate and streamline the payroll process? Can payroll be processed and approved in just a few clicks or easily uploaded by your staff? Does the package have functionality that enables employee self-service? Comprehensive payroll software solutions are the technological foundation of a streamlined, simple, and effective process.