UBS

9 Things To Remember While Buying Payroll Software!!

June 20, 2022
Payroll

Although technology spending is expected to increase significantly in the coming years, a good number of businesses, particularly SMEs, are giving the least priority to payroll software. Employers focus more on other business functions such as sales, marketing, and performance management.

Payroll software

Needless to say, every business operation is equally crucial. Payroll management is no exception.

After the global pandemic and sudden shift to remote working, various companies across India focussed on payroll automation that has helped them to push business growth effortlessly. With payroll software, HR managers were not buried neck-deep in paperwork as well as routine follow-up operations.

Let’s dig deeper and learn more about payroll management systems in detail!

Definition

Payroll software is an automated system used to streamline payroll processes. It helps to automate every step, thereby saving time and energy.

How to Choose Payroll Software?

Selecting payroll management software is not as easy as it sounds. Employers usually spend days and weeks finding the best fit for their business & payroll needs.

Without a doubt, utilizing the right technology is important. Only the right payroll software can be a game-changer for HR teams.

right payroll software

Not to forget, a wrong pick can leave businesses with weeks and months of busy work to set up the software and no significant benefit.

All that said, here are six amazing steps to simplify the selection process for employers:

  • Examine Your Payroll Needs: the first thing you should do is sit down with your HRs and know the exact payroll challenges & requirements.
  • Decide a Budget: The second step is to decide on a budget. Deciding a budget beforehand will help you select a good system without burning a hole in your pocket.
  • Research Market: This will help you to pick the best payroll software companies.
  • Check: While selecting top payroll systems, make sure to check their reviews, user experience, features, modules, etc.
  • Meet Them: Meet the vendors in person and let them know your needs and budget. Shortlist the ones you think can solve your payroll problems.
  • Take a Demo: Before taking a final decision, do not forget to take a demo. It will help you to have a closer look at the software.

The Best Payroll Software in India

Here are the top five payroll management systems in India:

Payroll Software in India

Top 9 Things To Remember!

Now that you know the step-to-step selection process and the five best systems, here are some points you should know before investing in one:

Investing in Payroll Software

  • No, You Won’t Become A Payroll Expert

If you are thinking that a payroll system will make you a payroll expert, then you are certainly mistaken. It is a big myth, my friend!

No matter if you invest in one of the best payroll software in India, it completely depends on you how you will make the most of it.

  • Type of Business

If you end up investing in a system that does not fit your business type, you will face even more problems along the way.

Today, there is no shortage of payroll management systems in the market. So, if you are a startup or small business, go for a system that is particularly designed to meet the needs of SMEs.

  • On-premise or Cloud-Based Software

For the unintended, on-premise or cloud-based are two types of payroll software.

On-premise software is implemented locally on the computers/servers of an organization. Whereas, cloud-based software is hosted on a vendor’s server and accessed using a web browser.

There is no such difference between these software in terms of benefits. However, usually features differ. So, be mindful while picking a system.

  • Take Sufficient Time

Who likes to invest in the wrong system and regret it later?

Do not rush while picking a payroll system for your organization. Take enough time interacting with your employees/HRs, searching systems on the internet, and more.

It is always better to carry out a slow and steady selection process.

  • Data Transfer

Shifting data from an existing or traditional system to an automated payroll software can be a daunting, tedious task.

Considering the same, you should check with the vendor if the software provides a smooth data transfer feature or not. If not, then ask for a subsequent solution for the same.

  • Try it Beforehand

Do you purchase clothes without trying them on? No right! Then, why would you pick a payroll system without trying it?

Today, almost all payroll software companies such as UBS provide comprehensive demo services. In such a scenario, it is your responsibility to take the demonstration before making the final call.

  • Analyze the Cost

Payroll management software is a one-time investment. Once invested, you will have no other option but to use it.

So, before you invest in a system, check the following three factors:

  • The things included in the total cost
  • Different packages the company is offering
  • The cost of upgradation in the future
  • Features

The whole point of investing in a payroll system is to simplify your payroll management process. Now, only a good set of features can do this for you!

That being said, check the features of the software before you decide to zero down it. Also, some must-have features you should consider are direct deposit, automated tax filing, auto-payslip generation, mobile app, etc.

  • Compliance

Last but not least, a payroll system should ensure 100% compliance. If it doesn’t, you will have to face a host of costly consequences in the long run.

To check the same, ask the vendor for their compliance policies as well as features.

Conclusion

Apart from all the points we discussed above, the payroll software you pick should also be easier to set up, train, and accessible from any remote location.

Most businesses unearth their payroll management systems only once they start using them. Don’t be like them and test your software to make sure it crosses all the boxes on your checklist. We hope you get the best payroll software in India.

FAQs

Why is payroll software important?

Payroll software helps HR managers to cut down all the mundane operations that usually waste their time and energy. In addition to this, such systems help HR professionals to run the payroll on autopilot. As a result, companies can dramatically improve their overall efficiency, employee engagement, and bottom line.

Which is the best payroll software in India?

There are several payroll software options all over India. Among all, one of the best software for both small and medium-sized enterprises is UBS. UBS comes with various features, modules, and benefits.

Alpesh Vaghasiya

Alpesh Vaghasiya

The founder & CEO of Ultimate Business Systems Pvt. Ltd. (UBS), I'm on a mission to help small and medium-sized companies to grow to the next level of accomplishments. With a distinctive knowledge of authentic strategies and team-leading skills, my mission has always been to grow businesses digitally. The core mission of UBS is Connecting people, Optimizing the process, Enhancing performance.

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