Payroll is the details of the sum of the salaries of organization's employees, including their wages, bonuses and deductions. A company may take the help of professional payroll services to handle payroll processing on company's behalf. The process includes calculating employees' gross pay, deductions and net pay, writing payroll checks, making payroll reports for the company, and preparing payroll tax returns. Mostly, small and medium sized businesses that do not have their own accounting division, hire payroll services to let professionals take care of the task.
If you are looking for a good payroll service provider, you can continue reading.
Paylocity is a complete online solution for businesses that want to automate their payroll processing system.
Paycom handles the most important payroll tasks for every company that is, paying payroll taxes and employees’ salaries on time with accuracy.
APS is a fully configurable online payroll management system for small and midsize businesses.
Paycor is an online payroll & human resource management service providing complete payroll, HR, tax filing and other related services to its clients.
Paychex handles payroll services for businesses of any size ranging from small businesses to large enterprises.
GTM payroll services provide effective payroll management solutions to businesses and households.
ADP Payroll is a professional payroll service provider that manages all your company payroll services including calculating and paying salary to employees and preparing payroll reports for you.
IOI is an online payroll and human resource management service offering scalable and reliable payroll services for businesses of all sizes.
Intuit Payroll offers payroll services to businesses to allow them to easily manage employees’ salaries and file taxation.
SurePayroll online payroll management services are designed for businesses looking for an easy to manage and automatic payroll system.
Wagepoint is a simple, fast and reliable payroll processing solution for small businesses.
OnPay online payroll platform is designed for small businesses to provide them an easy and affordable payroll processing solution.
BenefitMall online payroll system is designed to provide cost-effective tax compliance and payroll services to small businesses.
AmCheck is a complete payroll solution for small, medium and large businesses.
ZenPayroll is a payroll service provider designed specifically for small businesses.
Ascentis Payroll is a web-based payroll management system that allows companies to manage and process their payroll in real-time while avoiding errors and saving a lot of time.
MyPayrollHR is a cloud-based payroll and human resource management system, suitable for small and midsize businesses.
PaymentEvolution Payroll is an online cloud based payroll and payments service for small businesses in Canada.
The onset of online HR tools has eased the burden of work on HR professionals. They can now work on the aspects that really matter and not waste their precious time doing mundane tasks. These tools have also improved the overall quality of work as automation brings in the much-needed accuracy. The digital HR tools have proved to be a boon for most organizations, and they continue to grow in popularity with each passing day. One aspect of these tools that aren’t talked about much is the payroll management services they have on offer. The importance of these payroll management features is immense, and in fact, some service providers also offer separate payroll management tools.
Payroll management tools and payroll services
The Payroll management tools offered by various service providers come with varied capabilities. Almost all of them come with automated attendance and time tracking abilities, and these features enable them to track the time of various employees and consequently fasten the process of payroll generation. However, there are some issues associated with these tools that make it a less preferred choice when compared with payroll outsourcing options. For starters, these tools do not offer the kind of security features that are desired. Moreover, the payroll-related data is highly sensitive and requires multiple layers of protection, and deploying such layers of protection increases the costs incurred by the company.
Some of the issues with payroll management tools
The other pertinent issue with these tools is compliance. Compliance regulations and laws are incredibly dynamic in nature. They keep changing from time-to-time, making it difficult for these tools to keep track of it and stay updated. On the other hand, the outsourcing options can stay updated continuously and deliver efficient services as professionals continuously monitor them. Moreover, outsourcing options come with smoother procedures and better user support.
Benefits of outsourcing
Outsourcing payroll services also eases the burden on the business owner. He can rely on the service providers to provide him the accurate payroll data and stop worrying about its quality. Apart from these, the payroll service providers also offer several integrations with different online tools. The services can seamlessly integrate with ERP as well as HR software, making it easy for the user to keep a track. The other feature of these services that is worth highlighting is the self-service options on offer. Most service providers offer various self-service options that make it easy for business owners as well as employees to carry out various processes on their own.
The compliance laws and regulations differ from country-to-country, and therefore the payroll services offered by these service providers are also different. They have specific teams designated to work for clients from a particular country, making it more convenient for all the stakeholders.
What are the self-service features offered by payroll service providers?
The self-service options on offer vary for each service provider. Some of the options include mobile access to employee information via apps and leave management via a dedicated online dashboard.
How much do these services cost?
The pricing is again different for different service providers. However, what is worth noting is the pricing options on offer. Monthly, as well as annual packages, are offered by most of the service providers. In addition to these, some of the service providers also offer pricing based on employee count.
Can I try these services for free before signing up for a paid package?
Some service providers do offer free services for a limited time, and users can make use of such options.