Payroll software has come leaps and bounds in the last several years, transforming payroll from a tedious, error-prone process to almost total automation. In fact, companies that switch from running their payroll manually to using software report improved trust and satisfaction, reduced time spent on payroll, and lowered costs. If running payroll is harder than ordering an Uber, it's time to evaluate the payroll solutions available to you and take the next step to schedule a payroll demo. Here's what you need to know.
A payroll demo is a demonstration of payroll software including its features and functions. When you demo payroll software, a payroll company will walk you through the function of the system.
During the demo, you should get a thorough overview of the software and see different screens and modules. Your rep should walk you through some basic payroll processes, like entering new workers, uploading timekeeping data, and processing payroll.
Once you schedule a payroll demo, prepare your questions. Asking the right questions before you commit is essential to selecting the right payroll service for your needs. Here are the questions most likely to help you identify advantages and disadvantages that the payroll company may not openly share during the demo:
You might have more questions depending on your needs. Take time before you demo payroll software to draft a list so you’re armed with information you need to make an informed decision.
It’s common to meet resistance within your company when introducing a new payroll solution. For this reason, HR leaders must be well-versed in the benefits of utilizing payroll software and the impacts of those benefits on the bottom line. Here's what you need to know.
As many as 40% of small to mid-sized businesses are penalized by the IRS every year for incorrect payroll filing, totaling $7 billion in 2017 alone. Payroll software providers can streamline the process of filing and paying payroll taxes according to IRS guidelines.
Nearly 89% of companies in one study offer payroll self-service, making it the benchmark and an employee expectation across all industries. Utilizing payroll software can improve transparency and culture.
Around 54% of the American workforce is impacted by payroll issues every year. Payroll errors are a natural outcome of manual work, which is prone to human error. Organizations lose money directly when errors are made, and indirectly when trust is eroded, culture is undermined, and employees leave the organization.
Most organizations house payroll in HR or finance and utilize expensive resources to process manual payroll every pay period. Automating the payroll process using a payroll solution frees up those qualified resources for strategic work, improving your culture and competitive edge in the industry.
Whether you’re unsatisfied with your current payroll provider or you're still running manual payroll, these signs can help you identify the need for a payroll software demo. The two most common reasons that companies/business owners seek out a payroll solution are:
Payroll is time-sensitive and has a direct impact on both compliance and employee satisfaction. Prompt and helpful customer support is imperative for success. If you can't reach tech support when you need them or ticket times are higher on average than originally promised, it might be time to schedule a demo.
As your organization grows and changes, your needs will grow and change too. Has your payroll provider evolved with you? Do they still accommodate your needs and pay practices? Are they offering the same features (or better) as newer or updated solutions? If your payroll provider is failing to keep up, it's time to consider finding a new solution.
Are employees expressing frustration with your payroll solution? Common complaints include:
If your payroll software has left employees dissatisfied, disengagement is sure to follow. It's time to look for a payroll solution with high employee satisfaction rates and positive reviews.
Access to financial records and payroll reports is critical for operations and compliance. If your current payroll solution doesn't offer customized reports and real-time access to your own data, now is a good time to request a payroll demo.
If you don't have a payroll solution yet, keep an eye out for these signs you need payroll software.
There are a variety of team-related dynamics that might indicate it's time to automate your payroll process:
These are all signs that your organization is ready for payroll software. Payroll solutions can give your team the time they need.
As the organization grows in size and complexity, payroll errors can become unavoidable with manual processes. In organizations with effective quality assurance measures in place, human error is still 5-10%. That means that if you're running payroll for just 100 employees, it's likely that every single payroll will include errors impacting 5-10 employees. If you're running manual payroll for 200 employees, then that number doubles.
If preparing, reviewing, filing, and paying quarterly taxes has become a stressful endeavor, it’s time to explore a payroll solution. Payroll solutions can completely automate the process of calculating, withholding, filing, and paying payroll taxes so it becomes effortless for the local team.
When you’re ready to schedule a payroll demo, request a demo online from Paylocity.
A payroll system calculates pay, subtracts taxes and withholdings, and generates a direct deposit (ACH) file. Most payroll systems also have additional features like timekeeping, reporting, and employee self-service.
The most frequently used payroll software providers are Paylocity, Gusto, QuickBooks, and Paycor, but there are many more.
Payroll software streamlines the payroll process, improves compliance, and prevents errors for businesses of all sizes. All organizations should consider adopting payroll software.
Most payroll providers charge a payroll fee, which is a fee the company pays per payroll or per employee per payroll.
Payroll is generally housed in HR or finance. In some organizations, payroll is shared between the two, where HR may oversee timekeeping and payroll and finance oversees payroll tax, for example.
The cost of payroll software depends on which provider you choose, which modules you need, your payroll schedule, and your employee count. The first step in getting a proposal is requesting a payroll demo.
Payroll doesn’t have to be complicated, but it does have to be right. Stay compliant, collect employee data, and streamline tax filing – all while putting time back in your day with our automated payroll software. With the assurance of an error-free workflow, you can get back to what matters most – your people. Learn how our modern solutions get you out of the tactical and back to focusing on the bigger picture.