What is a payroll system?
Payroll systems are software applications that help automate the payroll process and allow it to become paperless. They can exist as stand-alone solutions or integrate with accounting, talent management or other HR functions. The system you need will depend on the size of your business and how many different types of workers you have — such as full-time staff, part-time employees or contractors — and how much you want to integrate and customize the solution.
What can a payroll system do?
Payroll is more than issuing a check every two weeks — it's also a system requiring detailed record-keeping and accounting that must comply with a bevy of state and federal laws. Applications can help you keep track of tax deadlines, meet compliance regulations, determine the status of your employees, and streamline the process of collecting time sheets and making payments.
Specifically, a payroll system can help you address:
What other systems can be integrated with payroll systems?
Often, payroll systems are just one module in a larger HRIS (Human Resources Information System) or HRMS (Human Resources Management System). Integrating payroll with accounting or other software applications can simplify the overall HR process because it lets HR professionals see more information at a glance, print more comprehensive reports or perform other basic functions without the need to maintain multiple databases.
Many companies use an outsourced service or solution if they don't want to maintain a payroll server in-house, saving staff the time and hassle of doing the work themselves.
In midsize or larger organizations, payroll and other HR modules may also be combined in a broader ERP (Enterprise Resource Planning) solution. ERP software brings together software from multiple departments, which might range from accounting to the contact center to the manufacturing department. These organizationwide solutions might incorporate features that help employees directly, such as letting them access their payroll history and benefits information from their desktop.
What payroll software can I use in-house?
You can start by comparing offerings of larger companies such as ADP Inc ., Intuit Inc ., Oracle Corp ., Paychex Inc ., Sage Software Inc . and SAP Aktiengesellschaft . Keep in mind that many smaller vendors offer excellent products. If you're not sure an in-house system is right for your company, consider the other options below.
Is open-source software an option?
If you want to run your system in-house but don't have much money to spend, an open-source solution might be an option for you. However, many open-source systems require a lot of configuration up-front to make them run effectively. This takes both the time and expertise of a dedicated payroll professional. You can check out SourceForge.net , an open-source project, to find software applications that are freely available.
If you don't have a payroll person on staff, you might want to find another option. If you update your business's accounting software, such as Intuit's QuickBooks or Sage Software's Peachtree, you can make use of payroll information the software includes. Otherwise, you might want to consider outsourcing some or all your payroll processes to a third-party vendor.
ERP is the most complex—and costly—business software product available today. Many businesses struggle to implement an ERP system without breaking the bank. Read this guide to learn more about what you can expect in terms of cost—and how to save money during the implementation process. more
Many retailers are seeing rising expectations among their customers for faster and better service, wherever they—or their customers—are based. To meet these expectations, you need to ensure that your employees—wherever they are—can access your business system, and communicate quickly and efficiently with customers and employees at other locations. more
With the immense changes the retail industry has undergone and continues to face today, there are mistakes that you as a wholesaler simply can’t afford to make. Certainly, one of these—perhaps the greatest of all in our technology-driven age—is choosing the wrong retail business management software for your business. more
Does your current software give your retail business the visibility and flexibility you need to be responsive and competitive? Or has your business outgrown your business management system? more