Top 5 Cloud Based Payroll Software Solutions for Small Businesses in 2016

July 13, 2016

“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.”– Bill Gates

Well this rule also applied to cloud based payroll software technology. Small businesses demand diverse payroll services to make the company compliant to law and order. There is big demand for cloud payroll software as they become essential to make sure that employees get salaries on time by maintaining a record of attendance, leaves and other details easily. Payroll software technology takes care of all responsibilities efficiently all along making sure that you will remain protected from any legal mess.

Why the Cloud Based Payroll Software Technology Demand Is Growing?

The best cloud payroll software help businesses to perform a number of tasks easily along sustaining employer’s peace of mind by freeing him/her from a number of tensions. The industry is driven by demand for integrated HCM/payroll cloud integration from across the world. Whereas manufacturing, financial services and retail are largest users of payroll services and jointly representing 37 percent of the total market.

NelsonHall’s Payroll BPO NEAT evaluated

“The global payroll services market was valued at $15.6bn in 2014, expected to grow at +6.6% CAAGR for the next five years to reach $21.4bn in 2019.”

On the other hand with the growing number of cloud payroll software in the Indian market, finding the best one is quite difficult. If want to know more about setting up these systems, SME Joinup is here to provide you professional guidance.

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The Key of Best Cloud Payroll Software

Nearly all payroll software should carry the similar features and help in businesses growth. Take a look at the below mentioned features which are the key of best payroll services:

Best Payroll Software in 2016

On the basis of above mentioned features, we have narrowed down a list of best payroll software for small businesses in 2016

myHRman from the house of Intersoft International Private Limited

myHRMan is a perfect payroll software from the house of Intersoft International Private Ltd, a known industry leader which is providing a gamut of HRMS solutions for over 10 years. It is a modern technology that brings together a plethora of services for small businesses to manage everyday jobs including Employees Salaries, Budgeting, Document Management, Letters and Email Automated Generation and Custom MIS & Trending reports etc. It is very easy to use along with existing system of any business and efficient to handle the entire HR ecosystem. It helps in reducing paperwork and errors sometimes happen because of human errors. In addition, it also has myHRPortal, an employee self-service portal with all advanced features like Employee Record maintenance, Leave & Document Management, HR Help Desk, Income Tax Return Software, Attendance Management System, Performance Appraisal Software and many more. Employee can have access of all these services without contacting HR.

A Brief about Features

Attendance Management System
HRMS Software
Employee Self-Service Portal
Expense Report Software
Recruitment Software
Income Tax Software
Payroll Software
Leave Management System
Time Tracking Software
Performance Appraisal Software

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2. Divergent Payroll Cloud Software from the house of Divergent Infosoft Technologies Pvt. Limited

Divergent payroll software is a multipurpose software system that helps startups like you to handle payroll functions in a transparent way to stay payroll laws compliant. It has fulfilled more than 200 clients’ including small and big organizations demands successfully so far. It helps employers in tracking employees’ time and other information efficiently. The software system is very easy to implement and works according to the regulations like Union laws, Department of Labor laws, the Sarbanes-Oxley Act, FMLA, FLSA, and internal policies etc.

If you select this payroll cloud based software, you will enjoy the flexibility, accessibility and control of payroll processing in-house with no worries of allocation of your staff, time, equipment and resources required to manage payroll. It is highly reliable, accurate, and flexible and people can rely on it easily.

A Brief about Features

Offer you a secure online access to payroll data
It provides statutory updates
Keep employees info, HR and accounting data protected
High quality services to meet the level of your business
Deliver first class support services directly at your office
Updated automatically with changes in legislation
Can be accessed on-line
Easy support available on your demand
Can be implemented by any industry and sector
It offers a global database extending to multi number of countries
Flexible to use
It provides a full BCP (Business Continuity Process) and disaster recovery services

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3. eMpower HRMS From the House of Seed Management Services Pvt ltd.

eMpower HRMS payroll software from SEED Management system is a biometric time and attendance software. It helps businesses to deal with the varied kind of Payroll Processing aspects including employees’ salary, deductions, gross pay and allowances etc.. It is efficient to produce pay-slips and detail of other payments paid by employers to employees. eMpower HRMS helps to manage employee record, define the emoluments, keep record of all deductions and lots more.

A Brief about Features

Easy to integrate with online TDS portal
Auto-backup of all data
Can create a number of salary structures and heads
Do formula based calculations
Compatible with all type of time attendance machines and many more

4. Elife from the House of ePeople Bespoke Consulting

ELife is a highly reliable “on the cloud” payroll outsourcing solution. It is a product of ePeople Bespoke Consulting (P) Ltd, a company known as an early cloud technologies adopter. ELife understands the nature of different kind of businesses and empower them to manage human capital efficiently according to their working environment and nature of business. It works smartly all along addressing an employee’s life cycle (from hiring to exit) in an organization. It addresses main pain areas of a business and giving business owners enough time to address other key areas of a business.

A Brief about Features

Manage payroll on web
It is secure and highly effective cloud solution
Very easy-to-use and implement within your existing system
No need to spend on up gradation of hardware infrastructure of your office
According to business requirements it can be customized
Carries self service feature that allows employees to access their accounts easily
Employees can view information about their leaves, pay slip, IT declaration and computation etc.
24/7 customers support including employer, employees and others
Give you quick access of all relevant information documents of an employee

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5. Greytip Payroll Software from the house of GreytHR

GreytHR’s Greytip payroll software solutions are used by more than 3,500 businesses which mainly includ SMEs. It enables businesses run payroll quickly from any device, anytime, anywhere all along taking care of all employees and employers key requirements. With the help of this device, employers can control payroll expenditure efficiently. Greytip covers all areas from keeping employees information safe to managing their leaves, attendance, appraisal, compensation and other records.

A Brief about Features

Robust and tested software for accurate results
Ensure peace of mind
Manages HR and accounting works efficiently
User friendly and highly relevant for SMEs use
It manages leaves, attendance, expenses etc.
Maintain employees’ documents records
Employees can avail self service
Compliant to statutory including PF, Labor laws, ESI and IT (TDS) etc
Have mobile apps for employees

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Apart from these top 5 cloud payroll software PACT SOFTWARE’s Payroll module, SEED management, SENSYS Technologies payroll software, EmpXtrack Payroll software can be explored to get the best and cost effective payroll software for your business.