Hr and Payroll Software Industry

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The Hr and Payroll Software Industry report provides a comprehensive analysis of the global HR and payroll software market, covering growth drivers, challenges faced by vendors, technology trends in the industry, business models adopted by top players, other key metrics and a revenue forecast for this market from 2017 to 2025.

Hr and payroll software industry report provides overview, growth prospects and strategies adopted by major players operating in the global hr and payroll software market. The report offers three-year forecasts (2015-2017) based on revenue (USD million).

Payroll4Free

Payroll4free is a free payroll processing software meant for small businesses. If you have less than 25 people to manage, this software can be perfect for you as you get versatile payroll features without investing anything. Having an intuitive interface and user-friendly features, it can be of great help to you in terms of calculating the payroll of your employees and contractors, and even managing their tax filing.


(payroll4free.com)

Key Features

  • Allows you to pay employees and contractors accurately
  • Provides access to the employees to fill their tax forms
  • Facilitates you to pay employees through paper paychecks and direct bank account deposits
  • Keeps track of the employees’ attendance and leaves
  • Empowers employees to view their pay information online from any device
  • Provides detailed reporting relating to attendance, wages, and tax benefits
  • Provides step-by-step account setup tool to get started with the software easily
  • It can integrate with various external software pertaining to accounting, banking, etc., providing additional functionality.

Have you already used Payroll4Free? Please leave your review here.

So, these were the best 8 free and open source payroll software that you can consider using for your business. But, if you are looking for a payroll software with advanced features and budget is not a constraint for you, we would suggest you consider one of the most popular payroll software LinesPay, the details of which are given below.

LinesPay

LinesPay is a smart and robust HR & payroll software that can allow you to carry out an effective payroll process accurately. It streamlines your entire payroll process helping you to improve employee engagement and performance. Its intelligent technology transforms your business processes, transforms your business landscape improving your work process efficiency. It is a versatile software, including a plethora of HR management features, but here we will include key features pertaining to payroll.

LinesPay(linespay.com)

Key Features

  • Calculates salary of all employees automatically
  • Compatible with different audit standards & Government regulations
  • Can adjust refundable payments with the employees’ salaries
  • Can configure different payroll schedules by assigning unique codes to each schedule
  • Allows you to restore and recover your salary backup at anytime
  • Helps you in adjusting each month’s salary deductions and refunds within minutes

Paychex

Paychex

Paychex is another common choice for online HR payroll software for small businesses.

It’s easy to use and comes equipped with payroll and HR features like new hire reporting, payroll tax administration, direct deposit, time tracking, and more.

Where it really stands out is its reporting features.

If you’re on one of the higher plans, you can access 160 different reports or create reports based on your own parameters. This will help you make data-driven decisions to grow your business.

The easy to use online dashboard lets you manage your payroll processes, health insurance and benefits, retirement, and more. Workers also have an employee self-service portal to manage their personal information.

You can also link your existing accounting software like Quickbooks or Xero directly into payroll.

The best plan for most small businesses will be PayChex Flex Select. This plan includes standard payroll features, along with HR and employee management functionality.

Pricing for the PayChex plans is hidden online, but it’s quote based pricing, so you’ll pay based on the features you need.

If you want advanced HR features like employee training and performance feedback, you’ll need the Paychex Flex Enterprise plan.

Expert Review: We believe Paychex is the best payroll and HR software for businesses who need detailed reporting.

ADP

ADP

ADP offers robust payroll services for small and growing businesses.

ADP is a leader in providing outsourced HR for large-scale companies. But, they offer the RUN service, which compiles decades of HR experience into an easy-to-use software.

With ADP RUN, you’ll find standard features like easy tax filing, automated payroll, direct deposit, compliance for all 50 US states, along with mobile and web-based timecards for employees.

There are also integrated HR features like employee health insurance, retirement services, and built-in onboarding processes for new employees.

ADP doesn’t share its pricing publicly.

But, the pricing is custom to your business. If you only need payroll assistance, this will be cheaper than bundling payroll and HR software together.

The more expensive plans offer features like employee background checks, integration with ZipRecruiter, and more advanced payroll features like unemployment tax deductions and wage garnishment.

Expert Review: We believe ADP is the best long-running payroll and HR provider for business who need a wide range of services. However their pricing may feel unfriendly towards small businesses.

Gusto: Best for Small Businesses Needing a Payroll Solution

Gusto logo

What We Like

  • Pays federal, state and local payroll taxes
  • Unlimited pay runs
  • Low-cost contractor-only plan

What’s Missing

  • Health insurance is available only in 39 states
  • Doesn’t provide international payroll service
  • Not customizable for large complex businesses

Gusto Pricing

  • Core: $39 per month + $6 per employee monthly
  • Complete: $39 per month + $12 per employee monthly
  • Concierge: $149 per month + $12 per employee monthly
  • Contractor-only plan: $6 per contractor monthly

Gusto is a top-rated small business payroll software because of its affordably priced plans and full-service features. Aside from filing your payroll taxes and W-2/1099 year-end tax reports, it manages paid time off (PTO), administers workers’ compensation, and provides access to several benefits options. You can also run payroll an unlimited number of times and pay employees via direct deposits, checks, and pay cards. Note that many of the providers in this guide don’t offer pay cards or on-demand pay as a payment option, although ADP Run and Paychex do.

Gusto Is Featured in:

Gusto Features

  • Affordable payroll processing: Its affordably priced plans with full-service payroll, payroll tax filings, and unlimited pay runs are just some of the reasons why Gusto is included in and even topped several of our buyer’s guides. With monthly fees that start at $39 plus $6 per employee, it’s optimal for small businesses looking for solid pay processing tools. This is unlike Rippling, Zenefits, BambooHR, and Homebase, which offer payroll as an add-on, and you’re required to purchase their core HR products first. Zoho People also offers payroll as an add-on, but you must be based in India to use it.
  • Robust payment options: You can pay employees by direct deposit and pay card. You can also pay via paper check—if you print on your own (some providers, like ADP Run, offer check signing and stuffing services). In case your employees need to withdraw money between paydays, Gusto has a “Gusto Cashout” option that grants them advanced access to their earned salary.
  • Benefits administration: Gusto offers a wide range of benefits such as health, dental, and vision insurance, commuter benefits, retirement plans, HSA, FSA, and 529 college savings accounts. The kicker is that its health insurance is not available in 11 states (Alabama, Alaska, Hawaii, Louisiana, Mississippi, Montana, Nebraska, North Dakota, South Dakota, West Virginia, Wyoming) as of this writing. If this is a deal breaker for you, consider Paycor, Paychex, and ADP Run for benefits available across the US. Rippling also has extensive coverage, but its benefits modules are paid add-ons.
  • Basic HR tools: Gusto doesn’t compare to Paychex or ADP Run on the number of HR features and tools available. It doesn’t have applicant tracking and job postings, but it does provide for average small business needs like offer letters, online W-4 and I-9 forms, HR documents, basic time tracking, and a self-onboarding portal.
  • In-house HR expertise: Gusto provides access to certified HR experts—you can direct any compliance and HR questions you have to them. However, you’ll need to subscribe to Gusto’s highest plan to get it.

Gusto User Reviews

Gusto is rated highly on user review sites like Capterra and G2 with an average score of 4.5 out of 5. Employers and employees praise the interface and ease of running payroll. Some reviewers also appreciate how it handles filing of payroll taxes. However, a few complained about having experienced slow load times when accessing its software.

Paychex: Best for Solopreneurs Wanting Payroll & Business Incorporation Services

Paychex logo

What We Like

  • Flexible payroll and HR plans, even one for solopreneurs
  • Advanced HR tools available with employee benefits options
  • Dedicated payroll specialist
  • 24/7 customer support

What’s Missing

  • Pricing isn’t all transparent
  • Software comes with a learning curve (due to the many features)
  • Payroll tax administration and year-end tax reports cost extra
  • Different contacts for different HR and payroll products

Paychex Pricing

  • Paychex Flex Essentials: $39 per month + $5 per employee monthly
  • Paychex Flex Select: Custom-priced
  • Paychex Flex Pro: Custom-priced

Paychex Plan for Solopreneurs and the Self-Employed

  • Paychex Solo: Custom-priced

Paychex offers HR software and services to businesses of all sizes. It has a Paychex Solo package for solopreneurs and the self-employed that includes payroll, a retirement plan option, and business incorporation services. It also provides Paychex Flex, which solopreneurs can transition to once their business has grown; it comes with full-service payroll, payroll tax administration, employee benefits, new hire onboarding, and a learning management solution. You even get a dedicated payroll specialist and access to HR advisers. Plus, like Rippling and ADP, Paychex offers a complete PEO option with benefits management and HR consulting.

Paychex Is Featured in:

Paychex Features

  • Multiple plan options: Paychex offers multiple plans that target different business sizes. Its Paychex Solo tier even sets this provider apart from the other HR software that we reviewed since none of those offer options specific to solopreneurs. It also has a Paychex Flex product that has three plan options, wherein premium plans come with more compliance support. It even provides a PEO package, a service that other competitors on this list don’t offer (except Rippling and ADP).
  • Robust HR tools: In part, Paychex earned its way into this list because of the numerous HR tools it has. It ranges from onboarding and time tracking to workforce management and training options—although some of these features typically cost extra.
  • Strong hiring support: Paychex’s hiring tools can help you find qualified candidates and ensure they’re the right fit when you’re ready to grow. Applicant tracking, background checks, and employee screening solutions are also available. Its team of HR professionals can even provide recommendations and expert support in case you have recruiting concerns. And to help get your new hires up to speed on the job, Paychex offers online learning sessions, including sexual harassment prevention training.
  • Benefits and insurance options: Paychex is licensed as an insurer, so it offers insurance directly. Unlike Gusto and Zenefits, which have limited health benefit coverage, Paychex’s health insurance covers all 50 states. Also, one unique benefit Paychex provides that the other providers in this list don’t is financial wellness tools—although this is a paid add-on.
  • Payroll processing: Paychex can manage both employee and contractor payroll, but it doesn’t have the low-cost contractor-only plan that Gusto offers. While it can handle tax payments and filings to federal, state, and local agencies, you have to pay extra for some of its payroll administration services.

Paychex User Reviews

Users who left positive Paychex reviews online said that it offers good reporting options, great onboarding functionalities, and an easy-to-learn interface. We also found its platform simple to use because it does not crowd its interface with extraneous features. Overall, its average user rating on G2 and Capterra is 4.15 out of 5.

Conclusion

The hr and payroll software industry is part of the larger software market, a sector of the computer industry that develops, manufactures, licenses, supports and sells software, and a range of related services. The market is growing with demand from companies, which increasingly view their systems as business assets and seek to extract greater value from them through advanced software applications.

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