Deciding on a payroll software solution is an important decision that directly affects your organization's bottom line. This is the right tool; it calculates taxes and deductions accurately, streamlines compliance procedures and reporting requirements. Optimized workflows also save your team hours typically lost on manual payroll tasks. Many platforms are on the market today, so a structured selection checklist is important to make sure that you come up with just what your organization needs. Here are the 8 essential requirements to evaluate:

Capabilities & Features

Assess must-have capabilities: tax calculations, direct deposit, paystub generation, reporting and mobile access. Isolate and prioritize any niche features such as contractor payments, schedules or overtime calculation if your operations require them.

Integrations

It also should integrate with your existing HR information systems, time and attendance trackers, accounting software. And other products so that data may flow freely across tools.

Customization

The out-of-the box functionality provides for most needs, but to provide some flexibility contract terms are expiring at last minute have been integrated where there may be special deductions or other considerations which make additional dimensions necessary.

Localization

Comply across geographies Understand tax calculation and compliance capabilities for countries, states,and cities where you operate.

Security

One door to look under is the server. Review security protocols, certification standards and independent audits around data access controls, encryption as well general best practices for re-assurance here.

Support Resources

You can find payroll guidance whenever you need it with well-documented knowledge bases, 24/7 customer support, onboarding assistance and even chat features. There is also an active engaged local peer user community.

Cost Structure

We offer transparent pricing models that help you anticipate and plan for all solution costs, from license fees to maintenance charges over the long haul. Also factor in ROI based on efficiency improvement.

Vendor Stability

Take into consideration such considerations as years in business, total clients, funding rounds and executive leadership when evaluating vendor stability and support reliability longer term.

Use this handy, all-encompassing selection checklist as you demo payroll software candidates and find the best match to reduce time spent on managing employee wages while ensuring people who work are fairly paid for their efforts. If you want to get a complete requirements gathering and vendor selection consultation, contact us now.