Payroll software and HR software has gained a lot of popularity in recent times. It cannot be denied that the struggle for opting the compatible payroll software is a challenge .
Let’s take a look at few factors the can guide in choosing the right payroll software:
The procedure of opting the best payroll software is a challenging one. To start with is planning the requirement checklist marking the features that the payroll software must have. Each organization's needs might differ in accordance with the functioning of the team. Having said that there are few must have features that any payroll platform must have.
Here are few must have features that a buyer should include in the requirement checklist:
Statutory compliance- form 16, tax related form with an easy access to download.
Payslip- easy access to download payslip at the end of each month
Benefits administration - provide employees with the required information to claim in accordance with the eligibility to enjoy these benefits
Recruitment - application tracking, sending bulk emails etc.
For any buyer it is essential to ensure that the IT infrastructure has to be equipped with the required elements that can endure the application installed. The IT team needs to have resources to train the employees with the opted application to ensure smooth functioning of the organization.
Another reason to have a well built IT infrastructure is that it will provide a shelter to the team in case of any unannounced crises occurring, halting the functioning of the organization. A well established IT team can tackle minor glitch and provide solutions without delay.
Vendor vs partner
The battle between vendor and partner has not been hidden from the industry. The challenges of buying an application from a vendor and developing it from scratch stands at different stages.
Challenges with the vendor
The buyer needs to ensure that he/she has opted for the right vendor.
Ensure that the vendor provides for a customary support to mend the application as per the convenience of the team.
Vendors assure that the buyer has the option to opt for the updated feature and omit it if in case the updated feature doesn’t integrate with the existing application.
Challenges in developing the application with a partner
Opting a partner and developing the application with the assistance of the IT team is a great idea as it provides freedom to customize the application whichever way it seems fit.
The challenge is it is a time consuming process. With freedom the employer gets the opportunity to incorporate minute details and with each new idea new changes are implemented . The outcome might satisfy each employee on board but the time consumed might raise an eyebrow asking if it was worth it.
Any clash among the partners might affect the existing settlement declining the productivity curve of the organization.
These challenges create a dilemma for the employer. Although both the vendor and partner comes with benefits that cannot be ignored.it is up to the employer to make a calculated decision and opt for the option much suitable for the organization in the longer run.
The final step is making a budget for the investment that is required. Buying an application is a procedure which includes many formalities. An employer and a vendor have to agree to a certain deal before the software is implemented. These come with the installation charges. Installing an application and integrating these applications with the existing software can be in need of a healthy IT infrastructure. The employer has to invest in purchasing equipment to strengthen the security of the organization along with the IT environment.
These factors play a major role in the procedure of opting a payroll management software. An employer faces these challenges which makes the procedure even more difficult. An employer can research and gain adequate knowledge to smoothen the journey.