What to look for in your next Payroll management software?

By definition, a payroll management software helps in managing employees’ wages, salaries, increments, and bonuses. As an organization and a team directly responsible for the payroll management, you ought to understand your needs and budget. It is imperative to weigh down your options as a team.

We decided to help you understand what you must look for when going for a payroll management software

  1. Commercial or outsourced software: A commercial software sits right in your pc whereas when you outsource it , another team is managing it for your organization. Are you looking for greater RoI and flexibility? Then go for a commercial software. It is not only.more cost effective, but also helps in protecting wage and salary information.
  2. Integration of HR and payroll capabilities: Having a synchronization between HR and payroll software is a must now. Payroll management software is essentially an extension of HR software with lot of overlapping. This makes sharing of  recent and accurate data easy with reduced paper work and redundancy
  3. Employee self service: With everyone going mobile,your next payroll management software should have a web based feature for employee self service. This feature in payroll management software will enable employee to directly access their payroll related data. They can even update the data and send queries to payroll management team. This increases the overall transparency and reducing the transaction cost.
  4. Transition time : For a successful implementation of a payroll management software , having right features are imperative. But,a right implementation timing is also necessary. Choosing a right time is more important than you think whether it is a transition from a manual process to a software or from old software to a new one. When you make this change, all the details pertaining to an employee need to be Imported.
  5. Implementation process: Who will perform installation and implementation process. It is easier said than done. Does your vendor have the team or you need to set up the whole system? Answering this critical question would help you select a right vendor.
  6. Data transfer and protection: Ultimately we are dealing with data. It is important that transfer doesn’t affect accuracy of the data. It is also important.to note how you would enter the data in your new system – manually or can be imported?

Selecting a right payroll management software doesn’t only involve right features and functionality.Successful implementation depends heavily on  a right vendor selection. Beehive software helps you in sorting out your payroll needs. Get in touch with them at +91-22-66999525 or sales@13.234.25.217