7 Payroll Software Every Company Needs To Consider For Automation

Payroll is essential for any business, be it small, mid-size, or large, as it is the reason why employees make efforts toward the company’s goals. However, if the calculation is processed late or has inaccuracies, employees’ morale is directly affected. It can even decrease the efficiency of the HR and payroll department, thus becoming a hurdle in business growth. 

To help navigate through this task easily, businesses can invest in automated and integrated payroll software. With this, they can reduce the redundancies in the process of calculating salaries, improve efficiency, boost productivity, and ensure accuracy. Moreover, such systems help HR professionals save bandwidth and cost, which can then be used to improve the people strategy. 

If you are in search of such online payroll software, this is the right blog for you.

7 Best Payroll Software to Automate Salary Calculation

Here’s a round-up of the best payroll software to implement automation in your business processes that you should at least evaluate based on your requirements. You can compare and select the system that works best for you.

Rippling

Helping you run your payroll in almost 90 seconds, Rippling can be your most reliable salary calculation platform. The system automatically syncs employees’ PTO data with the payroll modules to reduce human intervention in the process. Not only this, but employees’ total salary is computed based on the hours they have spent on projects, tasks, or assignments.

Wherever your employee works around the world, you can pay them easily. You can also ensure compliance as per that state or country. With the advanced mobile app, employees can check their pay stubs, apply for PTO, and much more. In addition, you can also streamline all your employee benefits like 401(k), medical insurance, etc.

Other features of Rippling

• Manage and pay garnishments
• Tax calculation and filing
• Multiple pay rates configuration
• Generate pre-built reports or create custom reports
• Sync 400+ apps for up-to-date payroll
• Direct deposit or check to pay employees

factoHR

factoHR is an easy-to-use and integrated payroll software that revolutionizes the process of calculating salaries and ensuring tax compliance. The system is best suitable for every type and size of business and adapts to the various requirements. It is a comprehensive solution that allows you to configure a policy, define multiple rules, create payroll components, and classify payroll groups. 

You get in-built integration with internal modules like attendance, leave, and expense, as well as third-party apps like ERP, accounting, etc. In addition, you can also leverage the capability of ICICI connected banking feature to transfer salaries into employees’ bank accounts without leaving factoHR. 

Other features of factoHR

• Unlimited earning and deduction components
• Customized payslip formats
• Multilingual payslips
• User-friendly mobile app and ESS portal
• Payment based on employees’ performance
• Automatic arrear calculation
• 200+ ready-to-generate reports & insightful analytics 
• FnF settlement
• IT Declarations

Paycor

Paycor is one of the leading software that simplifies the payroll management task for organizations, so they can perform it accurately and on time. Even if you are not an expert, you can improve your payroll efficiency using features like general ledger configuration, AutoRun payroll, OnDemand Pay, etc.

It is so flexible that you can disburse employee salaries using multiple options, such as direct deposit, pay cards, or earned wage access. The software also helps you be in compliance with various local, state, and central statutory laws that change from time to time.  

Other features of Paycor

• View & monitor calculation summaries
• Download payroll reports
• Accurate recordkeeping
• Additional expert support to ensure compliance
• Tax report filing
• Employees’ premium calculation

Patriot

Patriot is a robust yet extremely easy and affordable solution for businesses for their employee payment, accounting process, and compliance assurance. This tool helps you process salaries for both full-time and contract-based employees. You can also customize payroll calculations based on your requirements and can perform the process within 3 simple steps. This customization includes total hours, pay rates, deductions, business locations, and pay frequencies. 

The system consists of 2 types of plans: one where the system manages your taxes and another where you manage taxes yourself. With their self-service, employees can access their pay stubs, previous payments, W2 forms, etc. Apart from the product features, their customer support service is impeccable. 

Other features of Patriot

• Unlimited pay runs
• Integration with core HR and attendance 
• Reports for departmental payroll costs
• Free payroll setup
• Manage and pay employees’ insurance premium
• Integration with accounting

OnPay

OnPay is a comprehensive solution that helps organizations save time in managing employee payroll and benefits administration. It helps HR and managers become more confident and productive in their tasks. Employees can be easily onboarded to the platform, and their salaries can be accurately calculated. 

The process can be done in a few clicks: input work hours, review them, and confirm payroll for that cycle. In addition, it also helps in ensuring compliance for multiple states and filing tax-related forms quickly. You can get rid of the repetitive double data entry issues with the accounting integrations.

Other features of OnPay

• Single sign-on security
• Manage employee garnishments
• Varied pay rates and schedule management
• Intuitive mobile app
• Custom report generation
• 6 access level permissions
• Dashboard for accountants

SumHR

SumHR is a complete HR and payroll solution that makes the process of payroll stress-free. If you want, you can opt to outsource the process to concentrate on engaging people and improving company culture. It is a cloud-based platform that makes sure you pay your employees at the right time and with accuracy to reduce your month-end chaos. 

They have extensive payroll knowledge, using which they have covered every aspect of the process in their software. Different types of salary structures and unlimited income components can be managed here easily. Furthermore, it takes care of all the tax deductions and helps avoid penalties regardless of how your business scales. 

Other features of SumHR

• Declaration of IT exemptions
• Payroll history 
• Loans and advances module
• Payment of bonus, incentives, or OT 
• Flexible benefits plan for employees
• Settlement policy management
• Expense & mileage claims 
• Manage multiple currencies for international travel

Remote

Remote is an evolving platform that helps you set new standards for salary calculation. From managing multiple salaries and employee benefits to compliance management, it empowers many small, medium, and large businesses. Your in-house team can easily manage local and global employee payments in the system that too in multiple currencies. 

One of the best things is you can centralize and streamline your process to gain maximum ROI. Other than this, all your employee data is also managed in a secure and centralized manner. 

Other features of Remote

• Tax deductions and pension calculation
• Payslip generation
• Easy-to-download reports
• Benefits management
• Enterprise-grade data security
• Integration with other HR tools

To Conclude,

There are various payroll management tools that simplify the tedious calculation process and drive business growth. If you want to procure software to automate your payroll process, you have to understand your business requirements first. This helps you narrow down tools and select one of the best, as different tools have different functionalities. If you succeed in choosing the best, you can save an enormous amount of cost and time, as well as improve the overall efficiency of the individuals, teams, and processes.