If you’re a business owner managing a growing company with a bustling team of employees and in need of payroll software this blog is for you. As your business expands, dealing with piles of paperwork, countless calculations, and the constant fear of making costly errors can become a daily thing for you.
The complexity increases when it involves your relationship with your biggest assets, your employees. Yes, we are talking about paying them on time and having a proper system for that.
While the world is already blessed with back office operations management companies like Unire, businesses with a considerably smaller headcount or capital may need a temporary alternative for the same.
Deploying payroll software in your business system can be the answer. In this blog, we’re going to talk about our 5 top picks for the best payroll software in India that can help you do the job just right.
Why Do You Need HR Payroll Software?
First things first, why do you even need payroll software in the first place?
Well, traditional manual payroll processing methods are not only time-consuming but also prone to errors, leading to potential financial losses and dissatisfied employees. Implementing a robust HR payroll software offers numerous benefits, such as:
- Time-saving Automation: Payroll software automates repetitive tasks like calculating salaries, tax deductions, and generating pay slips, reducing the time and effort required for manual processing. Accuracy and Compliance: By automating calculations and tax deductions, payroll software minimizes the chances of human errors, ensuring accurate payroll processing and compliance with legal regulations.
- Enhanced Data Security: Payroll software safeguards sensitive employee data by providing secure data storage, access controls, and encryption, mitigating the risk of data breaches and unauthorized access.
- Employee Self-Service Portals: Many payroll software solutions offer self-service portals where employees can access their pay slips, tax information, and personal details, reducing the administrative burden on HR teams.
- Reporting and Analytics: Payroll software generates detailed reports and analytics, providing valuable insights into employee costs, tax liabilities, and trends, facilitating informed decision-making and strategic planning.
Now that you know how payroll software can revolutionize your back office operations, let’s see our favorite picks.
5 Best Payroll Software in India
Paychex stands apart for its exceptional reporting capabilities. Higher plans grant access to a staggering 160 reports or the flexibility to create custom reports based on specific parameters. With data-driven insights at your fingertips, making informed decisions to propel business growth becomes effortless.
The easy-to-use online dashboard enables seamless management of payroll processes, health insurance, benefits, retirement, and more. Employees enjoy the convenience of an employee self-service portal to handle their personal information efficiently.
Linking existing accounting software, such as QuickBooks or Xero, directly into payroll further streamlines operations.
Pricing – PayChex offers quote-based pricing.
Gusto is a comprehensive payroll software designed especially for small businesses. With its user-friendly interface and robust functionality, customize your ideal payroll and HR setup effortlessly.
Trusted by over 100,000 businesses, Gusto’s cloud-based system simplifies payroll management, offering automatic deductions, filings, direct deposits, and tax calculations.
You can also integrate it with popular accounting software like QuickBooks, Clover, and Xero, which contributes to its greater efficiency.
Some other impressive features of Gusto involve – employee onboarding features, such as personalized offer letters, document management, onboarding checklists, and software account management. Moreover, users on higher plans can access time tracking tools, streamlined compliance paperwork filing, anonymous surveys, and virtual organizational charts.
Pricing – Month-to-month pricing, starting as low as $19 per month.
QuickBooks Payroll is a widely recognized and trusted payroll software solution, and for existing QuickBooks accounting software or QuickBooks Online users, it is a familiar option.
Business receipt capture, automated tax calculations and payroll processing, paycheck creation, in-depth reporting, and nationwide support are some of its valuable features.
To cater to your HR needs, QuickBooks has collaborated with MammothHR, bundling essential HR features for your convenience.
Pricing – Starting at $44 per month.
Used by 20,000+ businesses, BambooHR is focused on HR essentials like hiring, compensation, onboarding, and fostering a positive company culture. It boasts an applicant tracking system (ATS) to accelerate hiring and performance management features to enhance company culture.
With BambooHR’s emphasis on employee data collection, you can gain valuable insights for informed decision-making during the hiring process.
The convenience of their Android and iOS mobile app enables team members to manage their information from anywhere, facilitating seamless communication and access to employee contact details across the organization.
Pricing – Custom pricing with two plans: Essentials and Advantage.
With its flexibility, OnPay caters to contract, part-time, and hourly employees, making complex workforce management effortless.
OnPay’s unique feature allows manual control over payroll runs, enabling you to choose which employees to pay before processing payroll. While not fully automated, this level of customization appeals to business owners seeking more hands-on control.
Offering multiple payment options, including direct deposit, printed checks, and debit cards, OnPay ensures seamless and convenient employee payments. Unlimited payroll runs, tax filing, support for various pay schedules and rates, and unemployment insurance withholding, among other valuable features.
The software’s versatility extends to integration with preferred accounting and time-tracking software.
Pricing – A base fee of $36 per month and an additional $4 per person.
Implementing a reliable payroll software solution not only saves time and reduces errors but also enhances data security and compliance. By leveraging these tools, businesses can focus on strategic initiatives, increase employee satisfaction, and drive organizational growth with confidence. Choose the payroll software that aligns best with your company’s requirements.
Remember, automation through payroll software empowers you to focus on the human side of your business, nurturing employee relationships, and driving organizational success.
However, if you are not sure whether you will be able to manage such an overwhelming number of tasks. It’s always a better option to consult a back office operations management company.
With a number of back office operations management solutions, coupled with the right payroll software, Unire can provide you with expert guidance. Book a consultation call today.
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