Accounting Blog for Business
Posted by Cedric Joshua Martinez
Aug 17, 2017 8:00:00 AM
More often than not, it is not the decision itself that make things hard for us, but it is the quantity of options that we can take. This still rings true in choosing your payroll service solution. With the number of excellent Australian payroll software available in today’s market, there’s nothing surprising about business owners being overwhelmed with options.
Now, if you find yourself in this situation, you’re reading the right article. Here are some points that you should consider in choosing your Australian payroll software:
1. Check your business goals.
While there are a lot of excellent options in the market, each provider has their own unique set of features to offer. Payroll taxes deduction, integrated reporting, top-of-the-line security, and automatic backups are just some of the standard features that you can get from any decent provider.
However, they vary in terms of their add-ons integration, ease of access, number of employees covered, packages and pricing, and technical support. Before committing to a software, it is important to take a look at both your short-term and long-term goals, and see which features will be more helpful as you work towards meeting your business objectives in the long-run.
2. Review the Cost of the Software or the Solution.
Whether you’re a small business owner, or a CFO of a large multinational company, your goal is to get the best services at the lowest possible cost. That said, you should review the total cost of the payroll solution that you are considering. In 2011, PwC released a report uncovering the factors that are included in the computation of the cost of your payroll software solution. Take a step back first, and assess if you really need the perks of the premium package, or if the basic set can cover your business needs.
3. Cloud or Desktop Payroll Software?
The rise of the cloud technology has made revolutionary changes in software solutions. It has given users the ability to access the network virtually anywhere in the world thru the internet, and more. Business owners, HR professionals, accountants, and even the employees themselves all benefit when their organization choose to go with a cloud payroll solution.
While desktop solutions have their fair share of advantages, it is without a doubt that the future of accounting and payroll software solutions is in the cloud.
4. Don’t forget to research and use the free trial.
Much like before anyone purchases a car, or any gadget, it is good to do your homework and see what experts and users alike say about a particular software. Reading product or service reviews gives you a glimpse of how smooth the software runs, and how available the technical support is.
Another option is to take advantage of the free software trial offered by almost every payroll software provider. While you might get tempted in using the trial of the premium packages, it might be better to go with the basic trial. Using the free trial on the basic package will help you decide if there is a need to avail the premium features or not.
5. Consider Outsourcing
Accounting outsourcing firms have payroll solutions ready to take on your needs and demands. Aside from having the knowledge and expertise necessary to take on your organization’s payroll requirements, finance and accounting outsourcing firms know the ins-and-outs, the pros and cons, and the unique advantages and disadvantages of the best payroll software solutions. They can advise you on which software fits your requirements and objectives the most. In ad dition, they also help in setting up or transferring your existing records to your new payroll system.
But above all, they take off the loads and problems you may encounter in managing your own payroll, and give you time to do tasks that are more important for your business.
Choosing a payroll software solution should come in easy once you have the necessary knowledge needed, and your end goals in mind. Remember that further down the line, a payroll solution should address your existing problems and lessen your burden, and not add to your frustrations.
But if you are leaning towards outsourcing your payroll, then look no further! Download our Australian Payroll Solutions white paper below and discover how D&V Philippines can add value to your payroll processes. Simply click the button below to get your copy! We also encourage you to see what our clients say about us.
Topics: Payroll Services