With so many payroll software options available, it can be tricky to find a payroll software that suits your business needs. Payroll software in South Africa comes in various sizes and price points. To find which one fits your company best, you must consider what type of features and support you and your team will require.

Whether you’ve hired your first employee or are looking to expand or switch systems, we’ve put together this article that might help you make the right decision for your business’s payroll.

Here Are A Few Payroll Software Aspects To Consider:

Cost

You will want to ensure that the payroll software you choose is affordable and best suited for your business type. Take into consideration that additional employees may come at an extra cost. Other areas to consider include:

• Subscription Payment Frequency  (Once Off, Monthly, Annually etc).
• Additional Cost Per Employee & Other Add On’s.
• Fees For Tax Filing.
• Software Support.
• Scalability Options.

As a small business, you may not need all the bells and whistles integrated with payroll and hr software systems. However, as your business begins to grow, you most likely will need to upgrade your subscription package.

Payments & Accuracy

Calculating accurate tax deductions for your employees and contractors is vitally important. In South Africa, all taxes need to be accurately deducted. And paid to SARS before their cut off dates.

Many business owners make the mistake of using free online calculators to work out their payroll. Tax amounts and other deductions fluctuate throughout the year. Therefore, you need to have a payroll software system that is kept up to date.

Reporting

Make sure the payroll package you choose allows you to filter reports in various ways. Standard summary reports should include payroll, salaries, taxes, total costs and other deductions.

Payslip Accessories

Will you need to print payslips for your employees? What payslip stationery will you print them on? (standard paper, customised payslips, security payslips etc)? Does the payroll software allow you to email payslips electronically? Are the emails safe? Make sure you check this.

When choosing the best software for your business, there are a number of things to bear in mind to ensure you find the right solution for your needs. Many of these will be standard considerations but there will be some that are unique to your company and the industry in which you operate.

Integration

It would be beneficial to support a payroll software that can easily integrate with other software’s and systems without compromising your payroll security. If you need to import information to your payroll system from an excel spreadsheet or a cloud-based software, make sure the payroll software you choose can support you with this process easily.

These are just a few factors to consider when choosing the payroll package. Check with the software providers to see what integration and import features they support.

Mobility

Do you need access to your payroll software while on the move? If you need to check or process payroll from other locations or devices, a cloud payroll solution could be for you.

Payroll cloud packages will provide you with the flexibility of having access to your payroll anywhere at any time. These are normally a monthly basis payment subscription.

There Is A Payroll Solution For All Types Of Businesses.

Payroll software is designed to make your business run smoother. Our team at Outsourcing Solutions are committed to helping you start, run and grow your business. To learn more about how we can assist you, get in touch with our expert team today and let’s build a better tomorrow together. info@outsol.co.za

Payroll is one of the most critical functions in any corporation. Therefore, if it is not carried our correctly, it has the potential to severely damage the business.

Outsourcing Payroll has become an attractive alternative for large corporations, as well as small businesses. Since the specialized payroll provider now take care of the cost of infrastructure, timely upgrade of payroll system, adherence to the latest statutory compliance updates and everything in-between. This leaves more room to focus on growth and core business operations.

Outsourcing Payroll Benefits:

Time Saving

Processing payroll demands time and attention to detail, no matter how many employees the business has. This comes at the cost of valuable time or hiring specialized in-house payroll employees which usually comes with a hefty price tag.

Outsourcing payroll allows employers to concentrate on more important business tasks.

Data Security

Payroll is a complex and risky operation. Even with trusted employees, there is risk of identity theft, embezzlement of funds, tampering with company files and more.

Additionally, there is risk of using in-house payroll software as well. How secure is the payroll data? Who is closely monitoring the business’s payroll for time and rate abuses or other unethical activities?

Outsourcing payroll services offers a “safe haven” for confidential payroll data. Payroll providers invest in state-of-the-art systems for storing and protecting their client’s data, simply because it’s part of their service. Therefore, the corporation never need to worry about backups, multiple servers, system abuse and theft.

Reduce Cost

The adequate infrastructure, automation and timely payroll updates will cost a precious penny. Additionally, if anything is executed incorrectly, it will cause further expenditure.

Outsourcing payroll will reduce costs significantly at the technology-acquisition stage and almost completely in terms of maintenance support. With outsourcing providers, the corporation have access to support, great infrastructure, security and specialized software.

Consistent Payroll Expertise

In-house business payroll runs the risk of losing their payroll employee to another job offer, taking extended holidays or falling ill. If the corporation’s accountant/bookkeeper gets a new job offer, they will walk with their knowledge of your payroll process. You also will have to spend time helping new hired employees understand your business’s payroll system.

Outsourcing payroll will assure retaining the knowledge of all the ins and outs of payroll-related tax laws.

Savings in time, cost, data security and the comfort of knowing experts are handling your payroll functions are compelling reasons to explore the benefits of outsourcing payroll. If even one of the above benefits could improve profitability and efficiency in an organization, outsourcing should be considered.

Now that you know some of the advantages to outsourcing payroll, we hope you will consider this service and take advantage of the advantages.

Prepare a list of questions about the services you are considering outsourcing to us. We are payroll provider specialists and will spend the time necessary to explain our services, and the value we will bring to your organization.

info@outsol.co.za