There are several compelling arguments in favor of using payroll management software, and you should consider doing so if you aren’t already using it. Worry not, though; payroll is a headache even in the most efficient workplaces, and automating it as quickly as possible will have a positive impact on productivity.
Exactly what does the acronym “payroll software” mean? This umbrella phrase encompasses not just dedicated accounting-based solutions but also the built-in payroll sections of widespread HR suites and enterprise resource planning software.
These programs can accomplish things like generate various financial statements and tax forms, process direct deposits, and compute salaries after taking into account applicable deductions and withholdings. Around half of the errors that occur in payroll processing are now eliminated, and the cycle time has been drastically reduced, thanks to the use of such a system.
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Top Alternatives To Payroll Software
Here is the top alternatives to Payroll software. Check out this list.
1. Gusto
Our Gusto replacement is a cutting-edge, industry-leading payroll automation tool. The multibillion dollar firm leads the payroll automation market thanks to its combination of HR, payroll, and benefits administration tools as well as its reputation for skilled help and rapid and easy compliance.
Gusto is one of the few platforms that makes 401(k)s and 529 plans accessible to small and medium businesses while also ensuring that they adhere to HIPAA, ACA, ERISA, and state taxation regulations. If you’d like to test out the main features of the software before committing, the vendor also provides a wonderful free trial.
2. OnPay
The main features of OnPay, a user-friendly payroll tool, are presented in a logical structure. It’s ideal for companies of any size that require a reliable payroll program that doesn’t overwhelm its users with features they won’t need. Human resources (HR) tools, payroll compliance, and staff administration are all included at no extra cost.
The solution’s main advantage is that it facilitates retirement planning for employees by automating withholdings and providing additional incentives in the form of contribution matching and safe harbor plans through a 401(k). In addition, we provide 401(k) education and onboarding for your team so they can learn about and benefit from this unique account. You’d be hard-pressed to find a service that can replace OnPay.
3. Zero
Xero, a company that is among the leaders in the accounting software market, includes payroll automation services as part of its extensive productivity bundle. Xero’s flexible pricing structure and innovative approach to financial collaboration make it suitable for a wide range of businesses and teams of varying sizes.
What’s so great about Xero? As an added bonus, the system is beneficial to businesses of all sizes and is user-friendly enough that even those without accounting backgrounds can perform difficult tasks like double bookkeeping with ease. If you do not have a dedicated bookkeeper on staff, Xero can still help you manage your payroll and fill in any accounting gaps with their certified support. Except for the tedious and prone to mistakes accounting tasks, Xero hasn’t changed a thing.
4. ADP Workforce Now
One of the most condensed HR management suites with payroll management is ADP Workforce Today, which is tailored toward medium-sized businesses in search of a centralized system to handle all aspects of human resources.
We found that ADP Workforce Today offered the best combination of features for our company’s needs. Its solution combines HR toolkits and benefit plan development wizards into one convenient platform, and you can modify it to meet your individual requirements.
The premiums, deductions, beneficiaries, covered dependents, coverage levels, and enrollments are all tracked by ADP Workforce Today, making it one of the few systems that is entirely COBRA-compliant.
5. Dayforce HCM
Dayforce HCM is a suite from Ceridian that manages human resource functions like payroll, taxes, employees, benefits, documents, and more. It will be difficult to find a comparable Dayforce HCM solution that covers all day-to-day activities and does not rely on a third-party system to support its operations, given the breadth of Dayforce’s feature set.
This is why Dayforce HCM is the best option. Aside from its already impressive multitasking abilities, this system also provides additional features for your staff and ensures that they retain ownership over all business transactions and personal details associated with their profiles.
To reduce the potential for mistakes and increase openness, we’ll save individual employee files and make them accessible to executives across departments.
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Conclusion
Gusto’s success in the payroll industry may be attributed to the fact that it is so much more than a simple payroll solution. The company is well-known for its comprehensive human resources platform, which includes payroll in addition to other advanced features like workforce costing and pre-made employee handbooks.
Access to a trained human resources specialist is included at the top pricing tier. But, there may be alternatives to Gusto that are more suited for certain types of small businesses. We’ll take a look at Gusto and what it has to offer, as well as six alternatives to Gusto that your company may find more suitable.
