Payroll processing is one of the most challenging features of managing a business. According to a Business Taxation Survey, 30% of small companies in the United States require an external company to handle their payroll administration. In spite of the external help, they spend more than 6 hours to complete their task.
The role of a Payroll software is to facilitate the payment process of salaried, hourly as well as unpredictable employees. The payroll software is often sold as a stand-alone system by Human Resource vendors.
There are millions of payroll software available in the market to automate the process of time tracking and also administer deposits and tax filing.
Some of the popular payroll software used in small scale business are as follows-
Paylocity : Paylocity is a payroll software that is specifically designed and created for SMB market. The software is known for its exclusive features and tools and other useful applications like general ledger, time and attendance applications, etc.
Paylocity is a platform that takes payroll functions to another level. The platform can be accessed 24/7 and is capable of performing various functions such as check-creation, paycheck calculator, and payroll processing, to name a few.
Dayforce HCM : Dayforce HCM is a cloud-based platform that provides users with payroll benefits, tax, analytics, talent management, document management, and HR management. Dayforce HCM helps you to receive real-time data across all areas of human capital management, improve HR record-keeping as well as manage compliance in a better way.
Paychex Flex : Paychex is a popular payroll software used for small business, but it also provides expensive solutions due to its high demand. The software is capable of good import and export and also includes support for payroll and self-service functionality. The software is not that simple to use, but it can be a deciding factor for small business while choosing the best payroll software. A lot of personal information is needed to run the software, and it comes with its share of extra costs.
Bamboo HR : If you are looking for online human resources (HR) software that provides an end-to-end solution for your workforce management, Bamboo HR is the one. The software is highly rated, and with the help of it, HR professionals can focus more on other essential tasks.
The software has a sleek and attractive interface along with a colorful template that makes HR management enjoyable rather than boring. Some might disagree, but the look of the interface plays a vital role in managing the workforce, particularly in a larger team.
UltiPro : UltiPro is award-winning software that was founded in 1990 and offers HR, talent, payroll, compensation and time and labor management apps that helps in connecting people with the resources and information that is required to work effectively.
UltiPro offers various management solutions according to the assigned roles : CFO, HR manager, payroll professional, hiring manager, HR director, supervisor, and executive.With UltiPro, one can keep track of all employee information such as benefits information, personal details, employment history, and performance history, among others.
The software can also handle complex calculations of payroll for employees in the US and Canada.
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