How to choose the right Payroll Software for your business

Written by:

Pierre Scheepers

Pierre Scheepers

Payroll Product Manager - GreatSoft Pty (Ltd)

When it comes to payroll, there are a lot of choices to make. And, with so many software options on the market, it can be difficult to know which one is the right fit for your business or how to choose the right Payroll Software for your business

Here are a few tips to help you choose the right payroll software for your business:

Consider your needs.

What features does the software offer? Does it allow you to process payroll taxes, track employee hours, or generate pay stubs? Make sure the software you choose has the features you need to run your business efficiently.

Consider your budget.

Payroll software can be expensive, so make sure you consider your budget before making a purchase. There are a variety of software options available, so you’re sure to find one that fits your budget.

Cloud vs On-Premise

There is  a vast difference between these two types of Payroll platforms. While both have their own strengths, they also have weaknesses that if left unchecked, could render them inefficient and unreliable. This is especially true in the case of on-premise hosting payroll software, which have been deemed less effective than their cloud based counterparts.

Consider your accounting needs.

If you’re already using an accountant, make sure the software you choose is compatible with their accounting software. This will make it easier to transfer data and avoid any potential compatibility issues.

Consider your employees’ needs.

If you have employees, make sure the software you choose allows you to track time worked, paid time off, and other employee-related information. This will help you stay compliant with labor laws and ensure your employees are paid accurately and on time.

Consider Support and customer service

Part of the customised service received from a software company is that you get the maintenance so negotiate that. A software requires maintenance over its life in both the sectors, i.e. online and keeping it functioning efficiently

You can check user reviews for the most accurate information on whether a product you’re considering has effective support. If it does, that support may save you a few headaches. If it doesn’t, it’s probably best to move on to another candidate

Consider Hidden costs.

Once the software has been implemented and it is running properly there is an ongoing hidden cost that is required in maintaining the efficiency and effectiveness of the software.

Since each organisation is unique and has specific requirements it is important that you look into your software and its requirements in detail and then identify the hidden costs that need to be associated with running and maintain the software

Scalable to grow with your business.

When your payroll is consistent and scalable, you don’t have to focus on how you are going to make sure your employees get their paycheques. That means you’ll have additional time and resources freed up for planning for the future.

Choosing the right payroll software for your business can be a daunting task, but following these tips will make the process a little easier. By considering your needs and doing your research, you’re sure to find the software that’s right for you. At GreatSoft we believe that each one of these tips are considered in the DNA of our Payroll Software. Go check out our product page here or send us a message and we will be in contact with you shortly

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