What to look for in a payroll software provider
What is a payroll software provider?
A payroll software provider is an external company used by businesses when they don’t want the hassle and cost of managing in-house payroll. The payroll company will calculate staff pay, bonuses, sick pay, pension and other necessary deductions that keep you compliant with the latest regulations. Find out more on what a payroll system is and how it works here.
There are a few ways to go about using payroll software from payroll providers, you can look at options like outsourcing your payroll, meaning you still have some control over your company payroll whilst using the benefits of their payroll software, or opting for fully managed payroll which is when you fully hand over your payroll to a service provider. These options vary for business size and industries, if you want to find out more on fully managed payroll or outsourcing payroll you can get in touch with a member of PayEscape today.
Getting started with payroll software
As payroll teams have to navigate new regulations and statutory requirements, payroll software is more important than ever to keep payroll compliant. If your payroll software isn’t keeping up with your business, or if you’re using spreadsheets and manual processes to manage your payroll, it’s time to look for another solution. There are many payroll software options on the market, it can all be a little overwhelming with what to go with, below we have put together a payroll software guide on what to look for when opting for the latest software.
Payroll software checklist
Payroll isn’t getting any easier – with evolving regulations and updates from HMRC, payroll is only getting more complicated. Here are a few payroll features you should be adding to your checklist:
Direct Filing with HMRC
When choosing a payroll software provider, it is crucial to allow you to direct files with HMRC. If you are managing the filing manually, there is room for error – which can lead to fines and penalties. Using a software that provides direct access to HMRC filing allows you to meet deadlines, ensure compliance, and avoid mistakes.
CIPP- certified Service
Do you have access to a team of experts when payroll questions come up? Do you need help with general ledger and other payroll-related reporting? Your payroll software should provide you with CIPP-certified payroll experts so that you can get answers to questions as they come up. As regulations change, your payroll can quickly be out of compliance. Having a dedicated compliance team makes it easy to manage changes and gives you peace of mind.
Integrated HR and Time Management
Does your payroll software integrate with other company systems? Payroll, HR, and Time Management solutions all use the same employee data, so why should you have to manually add those details into three different systems? Integrating your payroll and HR simplifies your workforce management, and when you integrate with time and attendance software, you have all of your employee data streamlined in one place.
There are many different integrated payroll software options to choose from online so making sure you go with a trustworthy compliant software provider is essential when handling all three areas for your business. Speak to an integrated HR and payroll expert online today with PayEscape and see how our services may benefit you.
Cloud-based Software & Technology
Everyone talks about cloud technology, but when it comes to payroll, using a cloud-based system is vital to operations. Your payroll team can automate employee payroll, file directly with HMRC and ensure compliance with payroll-related requirements in real-time. Employees have access to self-service portals to make changes to personal or bank details, saving your team time from manual changes and updates.
Using cloud-based software is more important now than ever, with many teams managing employee payroll from remote offices. Automating your payroll, filing directly with HMRC, and having real-time access to custom payroll reporting are just a few benefits of cloud-based payroll technology. Another benefit associated with cloud based software are tools for employees – self-service portals to change personal and banking details without having to submit changes to the payroll team which saves countless hours and is available to you at a click of a button.
Reporting
Payroll reporting is a must-have for payroll teams. Running customised reports that allow you to view payroll costs in real-time is vital to catching errors, fraud, and other mistakes that can lead to compliance fines and penalties. Your payroll technology should allow you to run reports after each payroll and create customised reports for your specific queries. If your payroll software can’t provide custom reporting, your payroll accuracy is at risk. If you are looking for new payroll software, make sure you have technology that can scale with your business. Talk to us today about simplifying your payroll with our cloud-based technology, customised reporting, and a CIPP-certified team.
Automatic Updates for Tax Regulations
This point sisters the HMRC regulations. When choosing a payroll software provider it is important to review if the software has a feature to automatically update tax rates and regulations. Having an expert team of CIPP specialists supporting the payroll software means you will not have to worry about handling this in house as this feature saves time and reduces the risk of non-compliance. Regular updates keep the system aligned with the latest tax laws, minimising stress and penalties.
ISO 27001 Certified
Security should be a top priority when dealing with personal information. ISO 27001 is an internationally recognised standard for information security management systems (ISMS). ISO 27001 certification demonstrates that an organisation has implemented rigorous security measures to protect sensitive information and data. PayEscape is ISO 27001 certified. Data security is at the top of our agenda and we provide a secure portal, encrypted emails, and an online payroll dashboard.
Mobile accessibility
We live in a fast paced environment, with more that 60% of users now relying on mobile and making searches on their phone compared to desktop. It means that the payroll software you choose should be both compatible on your desktop and mobile. Mobile accessibility is simply essential. Ensure you choose a payroll software that is up to date and offers mobile apps or responsive web interfaces, enabling payroll management from smartphones or tablets. This flexibility allows for efficient payroll management on the go, enhancing productivity and responsiveness.
Data backup and security
Data security is critical for payroll systems. As well as ensuring your payroll software provider is ISO 27001 certified you need to make sure you choose software with robust data backup and encryption mechanisms. Regular backups prevent data loss due to system failures or cyber-attacks, while encryption safeguards sensitive information from unauthorised access or breaches. This is essential to all if not any businesses.
Auto enrolment pension-scheme management
For businesses in the UK, compliance with auto-enrollment pension schemes is mandatory. Choose a payroll software that supports automatic management of pension contributions. This feature ensures timely and accurate processing of employee pension deductions, reducing administrative burden and ensuring compliance with legal requirements. Most software providers should automatically have this ingrained in their systems, if not they are not following the compliant standards.
Employee leave and SSP management
Integration with leave management and statutory sick pay (SSP) systems streamlines employee absence tracking. Which is important if you are tracking the time and attendance of employees and sorting out sick pay. Ensure you choose a payroll software that seamlessly integrates leave management functionality, allowing HR to monitor and manage employee absences, vacations, and sick leaves within the payroll system. This integration enhances efficiency and accuracy in payroll processing and is crucial for any business.
Comprehensive support and training
Opt for a software provider that offers comprehensive support and training services. If you are looking to outsource your payroll then adequate training will ensure you can maximise the software’s potential for your business. With payroll training you can stay updated on new features and functionalities. Responsive support services address any technical issues promptly, minimising disruptions to payroll operations. Speak to an outsourcing specialist with PayEscape today to get started.
Scalability
Consider the scalability of the software to accommodate business growth. Ensure the software can handle an increasing number of employees and adapt to evolving payroll needs, such as additional payment types or complex payroll calculations.
Cost-effectiveness & flexible contracts
Evaluate the software’s cost-effectiveness by comparing pricing plans and assessing the value it offers against the investment. Consider factors such as features, scalability, support services, and compliance benefits, and whether the contract is fixed or flexible to leave if you change your mind.
Why choose PayEscape for your payroll software provider?
We’ve not only covered what to look for in a payroll provider software, but we also provide all these areas covered. PayEscape are payroll, HR and time management specialists who can help with both part outsourced payroll or fully managed payroll with HR and Time management add ons. Below are the main benefits to choosing PayEscape for your payroll provider:
- HMRC Recognition and BACS Approved: Your guarantee of compliance and peace of mind.
- Flexible contract: We offer monthly rolling contracts with no long-term commitment required.
- Direct Support: At PayEscape we have a three ring policy for all existing customers for help and support.
- Automated Tax Filing: Say goodbye to the stress of the tax season. Cloud-based software automates tax calculations and filings, ensuring you meet all deadlines without a hitch.
- Secure and Reliable: Your payroll data is securely stored in the cloud, protected with the latest encryption technology. Say goodbye to worries about data loss or breaches. We prioritise the security of your sensitive information.
- Cost-Effective: No need for expensive on-site servers or IT infrastructure. Cloud-based solution is cost-effective, making it the ideal choice for businesses of all sizes.
- Anytime, Anywhere Access: A cloud-based solution allows you to access your payroll data from anywhere in the world. No more being tied to a specific location or office. Whether you’re on the go or working from home, you can manage payroll effortlessly.
- Real-Time Updates: Stay up-to-date with the latest tax regulations, compliance changes, and payroll updates. Cloud-based software ensures your payroll is always accurate and compliant, giving you peace of mind.
- Simplified Payroll Processing: Streamline your payroll processes with an intuitive, user-friendly interface. Calculate employee salaries, deductions, and taxes with ease, and generate paychecks and reports in a matter of seconds.
