What Should I Look for When Choosing a Payroll System?

Choosing the right payroll system for your business might seem like a daunting prospect, but it doesn’t need to be.. With the right insight from experts, it’s easy to take the steps to find a system that best matches your business needs.

As the creators of Ireland’s most popular payroll software, MegaPay, our experts know the difference between good and bad software. So, to find the payroll software that best suits your business, read on.

 

“Payroll management system” can refer to an on-premises or outsourced payroll software, different payroll systems that manage automated payments to employees.

While an in-house payroll team has its advantages, outsourcing your payroll means:

• Reduced costs related to employing staff
• Zero threat of human error
• A greater level of employee data security
• Compliance with payroll rules and regulations
• Scalability when you hire new staff
• An employee helpline and self-service system

Above all, outsourcing your payroll gives you peace of mind that your staff are paid on time, every time, and done so in a safe, compliant way.

 

When choosing payroll software for your business, there are several considerations. Here are ten recommendations from our experts:

1. Number of businesses involved: Are you handling payroll for your business only, or several? 
2. Number of users involved: How many people will need software access? 
3. Number of employees: How many employees do you need to process payroll for?
4. Payroll frequency: How often will you be paying staff?
5. Payslip type: Do you intend to print payslips or email them to employees?
6. Payroll analysis: Will you be analysing payroll across multiple departments?
7. Legislation: How will you comply with payroll rules and regulations? Do you have someone in-house, or will you outsource this responsibility?
8. Software integration: Will you integrate your payroll software with other forms of software, e.g., time and attendance software, an integrated HR/payroll system?

Assessing these points will narrow down your payroll software requirements. This will also give you a good insight into what you need in a trusted payroll software provider in order to feel that your payroll has been managed efficiently.

 

While having an in-house payroll team means you keep everything under one roof, the benefits of payroll system outsourcing are endless. 

When you outsource payroll services, you can reduce costs associated with  purchasing and maintaining a payroll system and the need to hire and train in-house payroll staff.

It’s possible to outsource payroll from the moment you set up your business, or further down the line when your business grows. It might be that you have encountered countless payroll challenges and want to alleviate the stress. Perhaps you’re finding it difficult to stay on top of revenue reporting requirements and need help keeping your business compliant. When it’s the right time for you, a managed payroll solution can be found which ticks all of your boxes and keeps you and your business on track. 

For more information on why outsourcing payroll to SD Worx, formerly Intelligo is the right move for your business, visit our Outsourced Payroll page.

 

Outsourcing your payroll to SD Worx, formerly Intelligo, means you unlock every beneficial feature of MegaPay Outsourced. 

Our payroll software:

• Ensures compliance with the latest payroll regulations.
• Generates ad-hoc reports on demand.
• Pays staff on time, every time.
• Is backed up with Microsoft Azure and AES 256 encryption to protect your payroll data.
• Can come with a company branded employee helpline for your staff to call with payroll queries. 

To begin your journey with the payroll software used by countless businesses just like yours.