Did you know? India has nearly 70 million MSMEs employing over 150 million people. Undoubtedly, human resources are the building blocks of organizations. The success or failure of an SME depends on how well it manages its workforce.
Looking for Best Payroll Management Software? Check out Zensuggest’s list of the Best Payroll Management Software
When it comes to HR management, payroll management is an area that requires maximum attention. That’s because proper payroll management ensures happy employees. And happy employees translate to a more productive workforce.
Irrespective of an organization’s size, timely and organized payment to employees is significant for its growth. But in general, payroll management appears as a tedious task for many organizations.
Many times, due to hectic schedules and strict deadlines, managing the compensation of the entire workforce could be potentially daunting. Hence, it is a clever move to start leveraging payroll management software to cut the clutter. The software will not only enhance the accuracy of the process, but it will also save your time and efforts.
You can find plenty of software that assists in payroll management. But, different software meets different needs. So, it is imperative to select the best payroll software that caters to your needs. If the selection process sounds like a crossword puzzle, you don’t need to worry anymore. Here we have curated the best payroll software for SMEs. So, settle down and read!
Why Do Businesses Need the Best Payroll Software Tool?
Payroll management software offers several advantages to SMEs. Without software in place, processing the payroll of employees can indeed be a real hustle. One of the enormous benefits of choosing the right Payroll management software tool is that it plays a vital role in ensuring smooth processing and timely payment of employees.
Here are some more reasons that your business needs the right payroll software tool.
- Since SMEs typically operate on tight budgets, an automated payroll system can be cost-effective
- It eradicates the issues related to various spreadsheets and intricate equat
- To ensure all payroll calculations adhere to the latest tax laws, SMEs need to deploy payroll software.
- It’s also exhausting to keep track of employees’ documents manually. With payroll software, it becomes breezy.
Salient Features of the Best Payroll Software Tool
Here are the features of the payroll software tool.
1. Automated Payroll
It is simple to use and executes salary payments on time.
2. Compliance Processing
It automatically handles compliance payments such as TDS, PF, PT, and ESI, as well as their statutory laws.
3. Time & Leave Management
It uses biometric devices to enable real-time attendance tracking and leave management.
4. Reimbursements
It takes care of all aspects of employee reimbursement, from entering expenses to calculating and paying them.
5. Insights & Reports
The payroll software tool delivers correct insights with reports in several locations, such as salary and HR registers, PF/PT/ESI challans, and employee paperwork, among others.
6. Provides Insurance for Employees
Employees should be allowed to purchase reasonable group health insurance policies tailored to their specific needs.
7. Employee Self-Serve
It gives your employees access to their pay stubs and Form 16, as well as the ability to declare investments.
8. No Hidden Charges
It functions as a cloud-based software solution that provides unlimited access to all services at no additional cost.
9. Dedicated Support
It offers one-on-one assistance during the onboarding process.
Now let’s have a look at the 10 best payroll software to consider in 2021.
11 Best Payroll Software Tool
Without wasting time, let’s discuss the ten best payroll software tools.
1. Keka
Keka is a popular Payroll and HR software in India that caters to employees’ needs and has a user-friendly interface. The software provides a wide range of services to business owners, including managing employee information, attendance, and compensation.
Keka additionally has extra features to provide a more conducive environment in which employees and management may streamline their work and professional problems.
Features
- GPS Attendance.
- Applicant Tracking.
- Attendance Management.
- Expense Management.
- Performance Management.
- Payroll Management.
- Loans and Bonuses.
2. SumHR Payroll Software
SumHR is a solution to the headaches and challenges that come with managing your employees’ pay. The software handles complicated payroll operations and other HR tasks.
You can quickly save your employees’ information, manage their salaries, and keep track of their professional behavior with the integration of this payroll software.
This is one of the greatest payroll software options in the market, and it’s also reasonably priced for small business owners.
Features
- Attendance Monitoring
- Leave Tracker
- Time-off Tracker
- Automated Payroll
- Expense Claim Manager
- HR Policy Centre
- Onboarding Tools
- Feedback Forms
3. Beehive
Beehive is the most professional and devoted online HRMS platform available at a reasonable price. From the time a person applies for a job until they are hired, the software manages their whole lifespan.
Beehive keeps all employee information in the cloud, allowing HR to conveniently handle payroll, leaves, reimbursement claims, and other employee-related operations. The software provides a stable environment with a plethora of capabilities to ensure that the system is error-free.
Features
- Employee Information System.
- Performance Management.
- Grievance Management.
- Leave Management.
- Recruitment Management.
- Task Management.
4. EasyGST
EasyGST is one of our top picks today, because of its user-friendly UI and employee-centric approach. Small businesses with an expanding number of employees can benefit from the software.
EasyGST has a seamless interface that includes functions such as staff attendance tracking, pay deductions, acquired additional leaves, TDS, PF consultations, and much more.
Furthermore, the EasyGST payroll software provides a secure environment for employees to submit and receive approval for their leave requests.
Features
- Email Integration
- Fast Search
- SMS Integration
- Compliance Management
- Dashboard
- Permission Management
- Security Management
5. ADP Vista
ADP Vista is an advanced payroll and HR management software for small and medium organizations, capable of handling complex data handling. To perform efficiently, the HRMS platform is adapted to the company’s needs and requirements.
Furthermore, the entire company has real-time access to the details of each employee.
Features
- Attendance management
- Document Management
- Employee Self Service Management
- HR & Payroll
- Online Tests & Psychometric Tests
- Recruitment Management
- Employee Data Base
- Pay Slip
- Data Security
- Self Service Portal
- Project Planning
- Ad hoc Analysis
- Vacation / Leave Tracking
6. Zing HR
Zing HR payroll software is one of the few programs that is both simple and effective at reducing your stressful workload. The digital software platform assists you in eliminating the piles of files required to keep each employee’s information.
In addition, the software tracks the employees’ attendance, leaves, and working hours, as well as calculating the monthly salary with deductions. TDS, tax, PF, and ESI deductions may all be handled by the software, making it a complete payroll solution.
Features
- Time & Expenses Management
- Employee Self-service
- Employee Lifecycle Management
- 360 Degree Feedback
- Appraisal Management
7. GreytHR
The company behind GreytHR has produced the cheapest HRMS platform for SMBs with 20 years of experience. The software comes with all the functions that small businesses may require to take care of their employees and payroll.
GreytHR is one of the most popular payroll software in India, thanks to thousands of real evaluations and user comments.
Features
- Organization Management
- Time, Attendance, and PTO
- Expense Management
- Salary Structures
- Compliance
- Benefits Administration
8. Pocket HRMS
Pocket HRMS is a next-generation HRMS platform with a lot to offer. The software has an easy-to-use interface with various functions for managing the company’s payroll system.
It also includes capabilities such as user-defined reporting, real-time analytics, and intelligent time tracking, as well as formula-based learning and deductions.
Features
- Attendance management
- Bonus, Loan & Advances Management
- Document Management
- Email Integration
- Employee Self Service Management
- Exit Management & Separation Management
- Expense Management
- HR & Payroll
- Mobile Support
9. People Apex
We can’t overlook People Apex when it comes to providing many functionalities with superior features in a single platform. It is one of the most well-known and widely used HR/payroll systems for enterprises.
Advanced features include various currency payroll handling, payroll calendars, generating and controlling payroll timings, and storing all employee information in one place.
Features
- Attendance Management
- Document Management
- Employee Self Service Management
- Expense Management
- HR & Payroll
- Mobile Support
- Online Tests & Psychometric Tests
- Performance Management
- Recruitment Management
10. FactoHR
FactoHR is a uniquely crafted, advanced platform for an effortless payroll process. It covers all the components involved in salary calculations to ease the task of HR managers and provide an error-less and accurate payroll process. In addition, the software offers other modules like time and attendance tracking, performance management, and employee onboarding. factoHR’s payroll solution will simplify and reduce the workload on managers, helping them to focus on other essential activities.
Features:
- Single click calculations
- Employee Self-Service
- Bank Integrations
- Time and Attendance Management
- Travel and Expense Management
- OKR based Performance Management
- Remote Employee Monitoring
11. Saral PayPack
Saral PayPack assists business owners in resolving payroll issues so that they can focus entirely on their business plans. The online payroll software not only simplifies payroll management but also gives employees additional benefits.
Saral PayPack provides a variety of features, including leave applications, punching time (in and out), attendance calendars, year-holiday calendars, wage slips, and more.
Features
- Asset Management
- Attendance management
- Bonus, Loan & Advances Management
- Document Management
- Email Integration
- Employee Self Service Management
- Exit Management & Separation Management
- HR & Payroll
- Mobile Support
- Multi-User login & Roll-based access
- Payroll Management
The Bottom Line
So, that was our recommendation for the top 10 payroll software tools in India for SMEs. Payroll processing is one of the most important activities that necessitate extreme precision and efficiency.
If you own a small business, you should use any of these software available to automate your payroll and save a lot of time. If you liked this post, simply make your comments in the section below to know more about the upcoming payroll software tools.
