Does your company need a more efficient payroll processing? Today, many companies are outsourcing payroll, including over 45% of American companies, according to the Journal of Accountancy. It’s a necessary process, whether employees are paid weekly, biweekly, or monthly. Such software like HReasily may provide many benefits, including making payroll processing faster, accurate, and eco-friendly.
Here are some features of payroll software that you should consider:
Make sure to consider how long the software has been on the market. For example, it’s better to select software from well-established companies like those under umbrella companies with several years of experience.
It’s also a plus if the software itself has been available for several years. It has likely undergone various updates to provide the best payroll software possible for your company. It will increase the chance of having access to high-quality software for generating company paychecks.
Setup and Training
These are some of the most important processes when using new payroll software. For example, it’s a plus when a company bundles account setup with the software. It makes the process smoother as you transition to the new software.
The setup itself should be easy. It includes software packages that require no experience with payroll software to set up. A fast and easy process is always a significant benefit for companies.
Some companies also offer on-site training, which is essential to provide workers with details about using the software. Studies show that 97% of Singaporean businesses use computers, according to Statista.
However, it’s still essential for workers to receive training before using new payroll software. Even if they’ve used similar software in the past, each software package is different, so it’s critical to know how to use new software. On-site training, in particular, can help guide workers about the software’s functions, benefits, and so on.
This feature is vital to make payroll processing significantly easier. For example, taxable income must be appropriately calculated. Thus, it’s a plus when this feature is automated through payroll software.
Singapore’s highest taxable income rate is 22%, according to the Singaporean government. Income tax needs to be calculated properly to avoid logistical issues, including late salaries. Automating such processes through payroll software is one of the most effective ways to deal with such matters.
Payroll software needs to be mobile-friendly. It can be a standalone mobile app that customers can use for processing and tracking payslips. It’s a plus in countries like Singapore where 96% of people aged 16+ years old own a mobile device, according to Statista.
Security and Backups
These are important factors to protect your company’s payroll data. For example, it’s critical for the data to be backed up frequently such as daily. This helps to safely store the data in case there are any technical issues and you need to access payroll data.
Tech support can provide several benefits including when using third-party software. Some companies offer bundled tech support for a certain timeframe, such as one year. This makes it the software’s setup, usage, and troubleshooting easier. Some companies offer little or no technical support for their software, which can make the situation more difficult for customers.
Today’s companies can access various features of payroll software like HReasily. This includes one like automation, on-site training, and daily backups. All these features help to make sure your payroll processing is smoother and payday becomes a stress-free day for your company.