Buying Payroll Software — Here’s your Checklist
If you are starting up a new company or planning to upgrade your payroll process, it is important to get a robust and comprehensive payroll software that would suffice all your payroll needs.
When running a business, there are two main choices for paying your employees. You can do it yourself through a payroll solution or you can hire a payroll service provider to do it for you.
If you don’t know about accounting and you are not well experienced in employee tax laws, then an automated cloud payroll software is your best bet. Further, payroll software is the most affordable option when it comes to human resource management.
When looking for a payroll solution in the market, you ought to consider a few things in mind. Here is your checklist to help you cut through the crap when buying a new payroll and HR software.
Can the software automate attendance/leave?
Does the software have current tax information for your state?
Ensure that the software is equipped with current tax information of all the states from which you can manage the ESIC, statutory deductions, tax deductions, HRA, etc. of employees.
Is the vendor offering a trial version of the software?
This shall give you a good idea about the software’s efficiency and working before you actually invest to buy it. Also, check whether the pricing plans are scalable or not.
Are there any hidden fees?
Check whether the software has any hidden charges or fees.
Does it offer database back-ups?
Yes, the software should take regular back-ups and offer a centralised repository in order to recover data in the event of data loss due to natural mishaps, system breakdown, etc.
Bear in mind these pointers when you are out in the market to buy a new cloud based HCM software.
Originally published at blog.pockethcm.com on April 13, 2016.