How to Find the Best Cloud-Based Payroll Solution for Your Business
Every business owner has to face the same dilemma at some point in their career, whether it’s their first business or their tenth business. How do you make sure your employees are paid correctly, on time, every time? It’s easier said than done, but by choosing the right cloud-based payroll solution, you can streamline the process and take the burden off your shoulders. When it comes to finding the best solution for your business, there are plenty of things to consider before you make your decision. Here are some tips on how to find the best cloud-based payroll solution for your engineering company.
Types of Cloud-Based Payroll Solutions
There are many different types of cloud-based payroll solutions on the market. Some are designed specifically for small businesses, while others are meant for larger organizations. When choosing a payroll provider, you should carefully consider their pricing structures and what type of support they provide. Additionally, pay close attention to how they handle sensitive data. They should have strict security measures in place that protect your business’s information from being hacked or stolen. If they don’t have adequate measures in place, look elsewhere.
4 Key Factors to Consider When Choosing a Payroll Software
Where you are in your business’s growth phase is a crucial factor that needs to be considered before deciding on which payroll solution best suits your company. Are you ready to integrate a payroll platform with automated time tracking and advanced reporting options? Or, perhaps you need an on-demand solution that can help your small business comply with government regulations and offer employees some benefits like insurance and retirement plans. At its core, picking cloud-based software should be done by first taking into account the following points.
1) User Interface
The user interface is crucial. Does it look professional? Does it allow you to easily access all areas of your payroll solution? How about on mobile devices, can they use your payroll service anywhere, anytime? Customer support: Is there a dedicated customer support line or are you stuck using email or an online forum? Do you have direct contact with a real person, are they qualified and able to answer all of your questions in a timely manner? Reporting features: How easy is it for you or your bookkeeper/accountant/CPA to create reports that help track employee hours and manage paychecks without an accounting degree.
2) Features
When comparing payroll software solutions, it’s important to remember that each one will have its own set of features. Before you make a decision, make sure you understand what each piece does. If it seems complicated, don’t be afraid to ask questions—and don’t be afraid to shop around. One payroll service may have all of your needs covered while another may offer everything except one specific feature you desire. Remember that there are other vendors out there who can meet your specific needs if your first solution doesn’t seem quite right.
3) Annual Cost
Many payroll providers charge annual fees and transaction costs, which may be difficult to pay if you’re just starting out. While these prices may appear insignificant at first, you’ll find that they add up over time. Small businesses should aim to keep their operating costs as low as possible, so look for a provider that won’t charge any long-term maintenance fees or require you to commit your business for an extended period of time. Some providers will offer free packages, but once you start hitting certain thresholds (typically 500 employees), they’ll hit you with a premium fee and force you into their highest tier of service.
4) Integrations
Integrations are important in payroll software. Integrations simplify daily business tasks by letting you access information about your employees across applications through seamless, secure connections. You want payroll software that can connect with other applications in your company, including your own. When choosing payroll software, make sure it integrates with any web apps or programs that you use on a regular basis, like bookkeeping services or other payroll solutions. That way, when new employees start working for you, all of their information will be pulled directly into your system and all payroll data will be updated immediately (instead of having to do everything manually). An integrated solution is one of the best ways to make sure you never miss an update again. Good integration features usually include functionality like these
