Payroll software is crucial for ensuring happy employees and meeting compliance requirements. Plus, as your team grows, it can save you precious time on dealing with ever-changing laws, managing employee documents, and generating reports.
However, it’s important to choose the right payroll software that fits your needs. The wrong solution might end up costing you time and money. Don’t get stuck with limited functionality, a confusing dashboard, or difficult integrations.
In this article, we’ll guide you through everything you need to consider when searching for new payroll software. We’ll also evaluate eleven of the top-rated payroll software systems on the market. With this information, you can confidently choose the perfect tool for your unique needs.
The Must-Have Features of a Good Payroll Software
Whether outsourcing payroll to a service provider or choosing a new solution yourself, there are several key features to look out for to identify good payroll software. These will allow you to ensure ultimate time and cost savings as your business scales.
1. Accuracy and efficiency
Payroll software automates complex calculations, reducing the risk of human error in salary payments, tax deductions, and compliance. In just a few seconds, top rated payroll software solution can calculate an employee’s overtime, deduct their tax, and then compile a report. Look out for software with real-time data synchronization to get the most out of your solution.
2. Time savings
With the right software, HR teams can significantly reduce the time spent on manual payroll processing, freeing them up for more value-driven tasks such as supporting employees. To save the most time, you should look out for a solution that has a user-friendly interface and offers advanced automation features, like automated tax calculations.
3. Compliance and reporting
Reputable payroll software can automatically handle constantly changing tax laws and regulations across different jurisdictions to ensure that businesses remain compliant. To benefit from these features most, choose a payroll tax solution that provides regular notifications and automatic compliance checks.
4. Self-service solutions
Good payroll software solutions will offer employer and employee self-service portals. These allow employers to onboard new workers while employees can access pay stubs, tax forms, and other important documents online.
5. Scalability
Your payroll software should grow with your business. This means you should look out for a solution that can support various types of employees (remote, part-time, etc.) as well as higher numbers of users.
6. Cost savings
Payroll software reduces payroll outsourcing costs by removing the need to pay for dedicated staff to manage admin. It also decreases the likelihood of costly errors and compliance fines. However, it goes without saying that you need to look for a solution with low package rates or an affordable rate per employee.
11 Top Payroll Software Solutions
1. Multiplier
Multiplier offers a global payroll software solution specifically designed for global and scaling teams. As soon as you enter a new market or onboard a new employee, you can quickly update key details, make automatic calculations, and ensure compliance.
After this, from a single platform, you’ll be able to view all the information you need about tax, expenses, and more. With self-service tools and real-time insights, Multiplier is designed to reduce the workload for busy teams supporting high numbers of employees.
Key Features
- One easy-to-use dashboard
- Expense, benefits and leave management
- A self-service solution for employees
- Real-time data synchronization
- Automated, multi-country tax calculations
- Cross-country compliance
- Round-the-clock technical support
Benefits
- Affordable pricing as you scale
- The ability to add different types of workers in countries across the world
- An intuitive solution with everything you need in one place
Remote team? Get a payroll solution that simplifies compliance across borders.
2. Paylocity
Paylocity is a payroll management software with a range of useful tools for global companies. Inside its easy dashboard, users can calculate pay, compile data, and ensure tax compliance across borders. Paylocity also integrates with many other business systems, transferring information on 401(k), retirement plans, and benefit files
Key Features
- Benefits and expenses administration
- International payroll provider
- Multi-country tax compliance
- Self-service portals
Benefits
- Integrations with leading workforce solutions
- Automated processes that save time
- Tax support for global teams
3. Deel
Though it’s reported to be more expensive than some of the options on our list, Deel is a popular payroll software that offers an extensive range of features. Users can onboard employees easily and then access key details about tax, benefits, and more.
Key Features
- Automated payment for contractors, employees, and EORs
- Global tax support
- Employee benefits
- Reporting and analytics
- Compliance support
Benefits
- Support for a range and high number of employees
- A range of reports
- Easy onboarding
4. ADP Workforce Now
Best-suited for midsize organizations because of its pricing model, ADP Workforce Now is an all-in-one HR software with payroll functionality. You can use the solution to automate tax and compliance in a range of countries, though this list isn’t as extensive as those offered by other solutions.
Key Features
- Federal, state, and local compliance support
- Self-service app for employees
- Integration with a benefits solution
- Reporting functionality
Benefits
- Strong US-based compliance support
- Efficient automated solutions
- Multiple products available for integration
5. Remote.com
Remote.com offers a global payroll solution that is fully self-service for employees and employers. This makes it well suited to small organizations that want full visibility over data and have the time to manage onboarding processes internally. However, it may not be as well suited to large organizations.
Key Features
- Cross-country compliance
- Advanced reporting functionality
- Self-service solutions for employees
- Benefits management
Benefits
- Easy-to-use dashboard
- Suitable for distributed teams
- Affordable pricing
6. Rippling
Rippling is an HR software company that offers payroll management as an add-on feature. This means they don’t offer quite as much functionality as other solutions on this list. However, the payroll solution deserves a place on our list because it’s both easy to use and affordable.
Key Features
- Cross-country payment support
- Automatic data syncing
- Compliance help
Benefits
- Easy onboarding
- Integration with other HR solutions
- Affordable solution
7. BambooHR
BambooHR is another good payroll software solution for companies of varying sizes. It’s particularly well known for its self-service solution which allows employees to take on more of the HR department’s workload. However, it isn’t an ideal solution for distributed companies as it only offers US-based tax support.
Key Features
- Benefits management
- Real-time data synchronization
- US tax support
- Reporting
Benefits
- Easy to understand dashboard and reports
- Local compliance support
- Employee self-service
8. greytHR
greytHR is a great solution for HR departments that want to customize their payroll software because they have a complex team structure. For example, it works well for situations where many employees have special allowances. Because it is a more complicated tool, it also comes with the option to book extra coaching with the greytHR team.
Key Features
- Compliance support
- Multiple salary structures
- Self-service portal
- Reports and statements
- Coaching for payroll teams
Benefits
- Configurable for complex team setups
- Extensive analytics
- Extra support during onboarding
9. UKG Pro
Though it’s another slightly more complicated system to navigate, UKG Pro is a good payroll software for experienced HR staff. It’s particularly well suited to large companies as it supports automatic tax calculations at scale and helps you create complex reports.
Key Features
- Automatic tax calculations
- Tax filing support
- Real-time analytics
- Insights such as payroll history and pay equity
Benefits
- Gain insights into advanced data points
- Manage tax more easily
- Compile advanced reports
10. Paycom
Paycom is an employee self-service led solution. This means that your staff will manage their timecards, benefits, and expenses and Paycom will automate calculations and flag potential errors. This is a great solution for those with smaller HR teams, but less suitable for larger organizations.
Key Features
- Employee self-service tool
- Accuracy checker
- Expense management
- Benefits management
Benefits
- Payroll accuracy
- Reduced employer liability
- Advanced insights for employees
11. Paycor
Paycor is a core HR solution with extensive payroll functionality. HR staff can use it to streamline tax, compliance, and reporting while employees can access pay stubs and benefits information through their mobiles. It is worth noting, however, that some reviews report issues with customer support so it isn’t the best solution for teams who are new to payroll software.
Key Features
- Real-time notifications on payroll
- Tax liability reporting
- Self-service solution for employees
- Compliance support
Benefits
- Ease of use
- Instant overview of key data
- Up-to-date compliance
The Best Payroll Software For Your Needs
While there are certain factors that make up a good payroll software solution (namely, compliance support and automated calculations), the best payroll software can differ from company to company.
Smaller, local organizations who need less functionality might opt for a solution such as ADP Workforce Now or Rippling, for example, Meanwhile, scaling companies with employees in multiple countries would be better opting for a solution like Multiplier.
With affordable pricing, cross-country compliance support, and an easy dashboard, this is a time and cost saver for businesses across the globe.
4 Common Questions About Payroll Software
Read on to discover FAQs about choosing the best payroll software solution or check out our list of questions to ask when outsourcing payroll.
1. How do I compare different payroll management solutions?
To find the right payroll management solution, consider your specific needs. Do you want to save your small HR team time by introducing self-service solutions, for example? Or do you employ people in a range of countries and need support with tax and compliance? While defining your requirements, be sure to assess how this could change in the coming years and choose a solution that can scale alongside your business.
To get further insights into payroll software solutions, you should also check review pages and request demos. Gather feedback from your HR and finance teams who will be using the system daily.
2. How can I ensure data security with payroll software?
When you choose a reputable payroll software provider you won’t have to worry about data security. Multiplier, for example, comes with robust security measures, including data encryption, access controls, and regular security audits.
For further protection, you should also implement strong password policies and two-factor authentication for user access, educate your team about security best practices, and back up your data.
3. Are there any payroll software options for remote workers?
Yes, Multiplier is a payroll software solution that is specifically designed for remote teams. It helps HR teams to manage compliance in a higher number of countries and to save time when managing growing numbers of employees who don’t work from the same location. It also automates tax calculations across borders.
