Selecting the right payroll software for your company is a major decision and may take a lot of time. A number of things need to be decided before doing that, such as in-house payroll or outsource the service. If buying the software -which features it must have and how much to invest in the entire purchasing and installation process!
Here are the key factors to consider while purchasing payroll software for your organization:
- Payroll Management and Reporting
- Employee Self Service
- Payment Flexibility
- Implementation Resources
- Taxation feature
- Salary feature
The software must have feature for updating the employee payroll information automatically. The system must support ESS or Employee Self Service that enables employees to view their payroll information by themselves thereby reducing the burden on Payroll & HR departments to solve individual employee query. As it contains personal information of employees, thus, it must have proper security tools. Also, the software must support supplemental tax tables and other tax deductions as per jurisdictions. Flexible payment options offered by software would eventually help the organization in saving costs as direct deposits and payroll cards reduce the cost of printing paychecks.
Apart from having these features, the software must be available in highly affordable costs, must be easy-to-use and install and also there must be a proper support from the technical experts. TeamWise is an outstanding Payroll Management Software that fulfills almost all the feature requirements and also offers other features as enhanced services. The software is highly user-friendly and cost-effective thereby reducing any installation and maintenance errors.