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6 Payroll Automation Software Solutions to Grow Business

Organizations often struggle to understand why their employees are dissatisfied. There may be various reasons, but an underlying cause that organizations may have overlooked is that they may be using an outdated payroll process that lags or crashes every time it processes salaries. Late payments can frustrate employees. Hence, this could subtly decrease the employee satisfaction rate.

Payroll automation software is the remedy to counter the employee dissatisfaction rate. It is reliable and boosts the internal transparency of the organization. By implementing a payroll automation system, you are not only automating payroll but also improving the overall employee retention rate.

In this blog, you will discover the top payroll automation softwares to help you choose the one that best suits your business payroll needs.

Here are 6 Payroll Automation Software Solutions that Can Help Your Business Grow

1. factoHR

factoHR is one of the leading cloud-based payroll solution providers. It mitigates the risk of HR payroll operations by automating repetitive tasks. It facilitates HR personnel to make data-driven decisions.

Key Features

• Hassle-free Payroll Automation Software
• Core HR Solution
• User-friendly Employee Self-Service Portal
• Smooth Attendance and Leave Management System
• Unbiased Performance Management Feature
• Easy Onboarding and Offboarding Process
• Strategic Recruitment Cycle

Pricing

factoHR offers three plans with access to 50 employees: “Core” for monthly charges of ₹4,999, “Premium”for monthly charges of ₹5,999, and “Ultimate” for monthly charges of ₹6,999.

Ideal for?

factoHR’s ideal clients would range from small to medium organizations.

2. Keka

Keka is known for providing a rich employee experience due to its convenient user interface. It caters to the needs of growing businesses and startups. Moreover, it has integrated various payroll applications and websites to ensure that no stone is left unturned.

Key Features

• Learning Management
• Payroll Software
• Performance and Careers
• Hiring and Onboarding
• Timesheets and Project Management

Ideal for?

Keka provides payroll solutions for small and medium-sized businesses.

3. Zoho Payroll

Zoho Payroll delivers a complete package of payroll functions. From onboarding to offboarding, Zoho Payroll has streamlined the process, making it smoother and simpler. If a company is already using the Zoho ecosystem, then the payroll integration is seamless because the data transfer is easy.

Key Features

• Payroll Processing
• Administration
• Employee Self-Service Portal
• Compliance and Reporting
• Benefits Administration

Ideal for?

Zoho Payroll is best suited for small to medium businesses.

4. Rippling

Rippling is founded in San Francisco. It integrates IT, finance, and HR departments into one single system. It has over 600 software integrations to address every business problem. The most important benefit is that it helps businesses stay compliant with ever-changing laws and regulations.

Key Features

• Headcount Planning
• Global Payroll
• Remuneration Bands
• Surveys
• Performance Management

Ideal for?

Rippling serves a diverse array of industries worldwide. It is ideal for small, medium, and large organizations.

5. GreytHR

GreytHR is renowned for streamlining HR tasks with its payroll system. It offers cloud-based 360-degree HR solutions. Moreover, it automates the compliance and eliminates the administrative workload.

Key Features

• Leave and Attendance
• Onboarding
• HR Software
• Leave Management
• Employee Engagement

Ideal for

GreytHR has an Indian client base, and it is perfect for small to medium-sized companies.

6. HROne

HROne is an Indian company founded in 2016. Their offices are present across six metro cities in India. They offer complete HR solutions and specialize in AI-powered automation. It configures pay groups according to the organization structure.

Key Features

• HR Software
• Project Management
• AI-powered Automation
• Teams Bot
• Payroll

Ideal for?

HROne’s target customers are medium to large-sized organizations.

How to Choose the Right Payroll Automation Software?

Companies can face significant losses if the payroll automation software is not chosen correctly. It can negatively impact the revenue and deteriorate the employee satisfaction factor.

Business Size and Growth Plans

In choosing payroll automation, it is necessary to determine the current business size in terms of the number of employees and its growth plan. Smaller businesses would require basic payroll processing software, whereas growing businesses would require modern and advanced payroll automation software.

Local Compliance Needs

Organizations should focus on features regarding local compliance with specific regulations. There are special rules, like labor standards and compensation structures, that need to be considered. Indian tax laws include rules for the Provident Fund (PF) and Professional Tax (PT), for businesses to stay compliant.

Features (Time Tracking, Tax Filings, Employee Self-Service, Integrations)

The automated payroll service offers a number of key features, like time tracking and tax filings. The time tracking feature records and analyzes the employee’s working hours to determine their salary. For tax filings, the payroll software automatically calculates tax and keeps up with the latest labour laws and government initiatives.

Customer Support and Ease of Use

To facilitate an excellent client experience, the payroll automation system should have a capable and responsible customer support department. The user interface is one of the most important factors in payroll processing software. Customer support can be delivered in various ways, including email, in-built chatbots, face-to-face meetings, and online meetings.

Budget and Pricing Flexibility

Payroll software companies offer different payroll plans to cater to their target audience. Companies should choose a transparent pricing plan, a clear cost breakdown, and no hidden fees.

Benefits of Payroll Automation for Growing Businesses

Manual payroll work is not only prone to errors but also requires human effort. For growing businesses, involvement in strategic tasks has more value than administrative tasks. Therefore, an automated payroll system offers a range of intricate benefits to growing companies.

Improved Efficiency

A payroll automation system reduces the time taken for payroll functions. This allows HR and the finance department to concentrate on strategic tasks.

Error Reduction

Manual processes would lead to costly errors and penalties, resulting in employee dissatisfaction. Payroll software can help in reducing manual errors and take corrective actions quickly.

Enhanced Employee Satisfaction

With a user-friendly interface, employees can easily access the payroll-related information. Through automated payroll processing, salaries are paid consistently, leading to improved employee satisfaction and a higher employee engagement rate.

Compliance Assurance

Payroll compliance handles the complexities of law and regulation. For every business in India, it is critical to comply with the laws to avoid unexpected penalties and legal risks.

Scalability for Future Growth

Payroll software provides scalability features, which help businesses expand when their operations grow. The software can adjust to the growing number of employees without making major changes to the system.

Conclusion

There is no doubt that an automated payroll system is a game-changer for growing businesses. As a business grows, it wants to focus on more strategic aspects rather than mundane tasks. Manual processes are the bottleneck; they drain time and increase the risk of errors. Payroll automation frees the HR and finance departments from manual payroll tasks and streamlines payroll operations.

factoHR provides automated payroll solutions designed for growing businesses. It includes payroll compliance and automates complex payroll processes. It also helps reduce the margin of error and helps businesses outperform their competitors. Schedule a demo with factoHR to know more!

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