A vital responsibility activity in a company’s human resources department is the management of salaries. Any company, no matter the size, has to have suitable payroll software that allows both personnel management and salary management.
Here I will look at:
- What are the main payroll software functions?
- What are some important criteria to know before choosing a program? and,
- Examples of payroll software.
What are the payroll software functions?
Payroll software is a computer program that allows companies to properly manage the payment process for their employees. This software can perform several functions such as:
- Calculating salaries
- Producing payslips
- Transferring salaries directly to employee bank accounts
- Preparing tax declarations and compliance reports.
This type of program also allows companies to comply with the laws and regulations in force, ensuring that wages are calculated correctly and that taxes and social deductions are paid within the predefined deadlines.
What criteria are required before choosing a program?
Selecting a payroll program may seem complicated. There are many systems and options available in the market today. Some aspects, however, should be taken into consideration more than others:
-
Functionality and scalability
A payroll program must be easy to use and must meet the objectives of a company. These objectives can change over time, and it is important that a program can adapt to this evolution.
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Accessibility, availability, and security
On-site payroll processing is not always possible. Cloud-based solutions provide the information and transparency an organization needs to ensure employees are paid on time and tax requirements are met. Platform accessibility, historical availability, and specific security protocols used to protect sensitive information should also be considered.
Integrating a payroll program with existing systems is important to improve efficiency and reduce duplication. Care should be taken to ensure that the selected service provider integrates with both timekeeping systems and the general ledger of an accounting system to facilitate the flow of information and eliminate manual entry.
There is a multitude of payroll software on the market, ranging from traditional desktop programs to cloud-based solutions.
Below is a list of examples of software programs for the management of payrolls.
ADP:
A world leader in payroll and human resources management services. ADP's payroll solutions have been designed to make the user as independent as possible. A precursor to the cloud, the software operates entirely online regardless of the user's location. It is suitable for both small and large companies, regardless of their industry. For companies with less than 500 people, "ADP Decidium" will be the most suitable, and for multinationals, it will be "ADP Global Payroll".
Workday Payroll:
Present in the market for more than 15 years, this US software is particularly suitable for large enterprises and global organizations. Cloud-based, it offers a fully online payroll solution. Workday also updates tax data in real-time, which is a huge time saver for businesses. The software is fully customizable, allowing you to create the interface by displaying only the options relevant to your role in the company.
SAP SuccessFactors:
Based on the SAP cloud, this software is a viable choice for medium to large businesses looking for advanced solutions. It offers solutions for the integration of personnel, payroll, talent management, and business performance management. Smart technologies are also integrated and enable machine learning. For national and regional regulations, a localization framework is available.
Oracle HCM Cloud:
Human capital management (HCM) software is suitable for both large and medium-sized companies and allows you to manage all aspects of the employee's life cycle. The system uses AI and cloud computing technologies. When it comes to payroll, the software provides a platform for payments and banking integration, facilitating the process of paying salaries and even rewards to employees.
In conclusion, the advantages of the software above depend on the company types and the programs' personalisation. Before choosing software, it is important for a company to target its needs and identify which functions are the most essential to perform payroll management in the best possible conditions. It is also important to know if the program allows automatic real-time updates for better efficiency.
Further reading:
Patrick Nicollier: Humanitarian and Global Fund’s HR Director by Milinda Wannakula
Human Resource Development: why ? by Emanuela Melis
Image: Depositphotos
