Small businesses would usually lack the level of expertise needed to manage payroll. Replacing manual processes with automated solutions can be the only safe bet to keep a business running smoothly.
But when you actually start to research your options for a payroll provider, you can mostly end up confused with the vast number of solutions available in the market. And it’s hard to understand what you should focus on to make a decision. So we’ve put together a list of factors that influence every small business owner’s decision to choose payroll software.
- User friendly and Ease of use
Changing from a paper-based system to an advanced paperless system is a rewarding experience but it still requires basic training for employees on how to make the best use of the payroll system. Any small business needs access to software that provides quick solutions for every problem and you don’t need to reach for the stars in order to figure it out.
It is essential to choose a software which offers a user-friendly platform, suitable for the employees who don’t have much expertise in this field. This safeguards your business from bearing additional costs required to hire a professional and keeps the expenses in control.
Remember to aim for software that is smooth and can be installed on any computer. The easier a solution to use, the higher its chances of making the business succeed.
- Compliance
The federal, local, and state laws governing how you withhold money from an employee’s paycheck is a rule which can’t be broken. You need to stay compliant, but with the fast pace of changing laws, sometimes you aren’t able to keep up.
With the use of efficient payroll software for small business, you can monitor these rules with the help of just one click and you won’t have to keep running to track every change in the law to comply with it.
- Security
Your Payroll department contains some of the most sensitive information from bank account details, employee contact information, social security numbers, etc. It becomes highly important to secure this data and prevent it from getting in the wrong hands. Failing to do so could turn out to be a major financial drain for your business.
When it comes to security, you need to ensure that your software comes with a database encryption feature and provides control access only to a few users for any sensitive data. Make sure you check with the provider about the authenticity and security of the software.
- Affordability
The main deciding factor for any small business is the cost attached to the payroll software. You probably wouldn’t be willing to hand out cash at the flick of a switch. Your payroll provider’s pricing structure should be transparent so as to ensure there is no confusion in the future.
Be aware of hidden fees that might go unnoticed during the initial cost comparison of the payroll software. Ask the payroll provider to give you a complete breakdown of the pricing structure so that you aren’t surprised in the end. Make sure you know what is included and what is not. The cost usually changes when you expand your business. If you plan to hire more employees in the future, ask if there is any additional cost involved with it.
- Support
After purchasing payroll software, you wouldn’t want to hear an automated message at the other end when you have a query or problem with the software. With so many digital platforms around the corner providing reviews from trusted customers, you can easily choose a good payroll software on the basis of its performance.
Depending on your business needs and requirements, you want to note down the level of customer support that will be required in the future. Also, make sure to do a quality check with the support team beforehand to clear any other doubts about the efficiency. It’s important that the support team is accessible through the phone and email with the timeliness in responding to any queries.
Takeaway
Now you know, it isn’t as tough as it seems. When you find the right solution for your needs, you are transforming your payroll process from a task you dreaded to a task you can now complete in minutes.