5 Things to Look For while Investing in a Payroll Software

Infrastructure modernization is giving rise to fast-paced automation. From small businesses to the Multi-National Companies, everyone is looking to cut down the redundancy in the workflow. Payroll software is also part of this revolution. The cutting edge technology behind them has significantly changed the dynamics of human resources and the finance department. A payroll system integrates both the departments, minimizes the workflow redundancy and helps in increasing productivity.

It is an all in one solution for automating the payrolls, tracking their expenses, handling taxes, and compliance management. It also aids in the employee onboarding process, managing custom salary for the employees, employee self-service, and online salary payment. Good Payroll software reduces the burden of redundancy from the HRs and lets them focus on hiring the best workforce.

While investing in Payroll Software, it becomes crucial to know the exact requirements and then choosing an efficient solution tailored to your company. Failing in this can cost you both time as well as money, but the hassle remains the same. So we have come up with top-five parameters that you should look for while purchasing a Payroll Software-

Easy to Use – The software should have a clean and uncluttered user interface with a single-click workflow. A single-click workflow has an intuitive dashboard that makes the entire system painless and easy to use. You can perform multiple tasks such as attendance and leaves management, full and final settlements, payslip, and payment disbursal through a single page workflow by just one click.

Also, there should be a sophisticated help section to rescue the user quickly from a complicated scenario. It reduces the learning curve by making your employees get used to the processes faster.

Accessibility – Accessibility to your Payroll software is another crucial feature you should be looking for. You can opt for cloud-based payroll software. Cloud-based software provides access via your mobile phone or a tablet by just an internet connection. It means you are always in touch with the entire system even if you are on the go.

Scalability – No matter whether you have a small business or a larger one, the opportunity of growth is always there. Therefore, while investing, you should choose Payroll software aligned with your company’s growth plan. Switching vendors frequently is never a convenient option as data migration from one platform to another can be complicated and exhaustive.

Security –The Payroll software stores most of the sensitive data of your employees, which includes their bank details, PAN card number, salaries, and other personal information, which means you need a highly secure system that keeps your data protected.

While finalizing the vendor, you can check whether they are ISO/IEC 27001 compliant. Being ISO/IEC 27001 compliant means, the vendor is following a very high standard security protocol. The second part of the security you should look at is the data backup feature. There should not be room for data loss in any situation.

Pre-Sales and After-Sales Support – Support plays a significant factor while choosing a Payroll software for the company. Good pre-sales support means the vendor is providing detailed information about the product without missing even the minute details. A transparent Pre-Sales comes handy in building a long time relationship with the vendor. If the vendor is providing a free trial of the Payroll software, then it is a cherry on the top. With the free trial, you can evaluate whether the product suits your requirements.

After-sales support is a very crucial part of brainstorming while deciding the vendor. Payroll software performs several tasks, including payslip generation, tax and compliance management, and a lot more; therefore, something might go wrong. In this case, quick support should be available through email, phone, and chat. It really enhances the overall experience.

A carefully chosen Payroll software boosts productivity as well as helps in cost savings. Once aligned with the goals of your company, it rules out the complex, sometimes inaccurate, and a time-consuming legacy spreadsheet system. It makes the overall system easily accessible, secure, reliable than never before.