Contact Us

[FREE WEBINAR] ‘HR & Artificial Intelligence – How to Prepare for the Future of Work’ on 20th Jun’24. Register here.

Payroll Software Showdown: Comparing the Top Solutions for Your Business

Introduction

As business operations go by there are a few tasks that stay in the critical realm of operating a business smoothly. Payroll management. Ensuring taxes are deducted accurately and employees are paid on time is every company’s nightmare. Another major factor one should never forget is compliance with labor law. However, these tasks can be overwhelming, which is where payroll software comes into play. Popular payroll management tools ensure that businesses now have a wide array of options to choose from. The challenge lies in evaluating the best payroll software and choosing what is best for your organizations’ specific needs.

To help navigate this ocean, we have chosen some of the top payroll software and conducted an in-depth payroll system comparison to help one find the best payroll solution. Each of the top payroll software has its own unique features and advantages. Below is a list of all the top payroll software solutions in India for businesses of all sizes.

  • Paybook:

Paybook payroll is a top choice for businesses of all sizes. You can efficiently track attendance, calculate salary, and calculate bonuses accurately and hassle-free. It is an employee-friendly software that allows employees to apply for loans and advances and keep track of their financial transactions with ease. The software has a document management system that ensures storing and accessing essential company documents are simplified and a click away. The software is also compatible with swap card that allows employees to check in and out, and still be connected to the system.

Features:

Paybook payroll has an on-the-go mobile support feature that allows employees to stay connected and manage their payroll tasks from anywhere. It has a multi-user login with encryption that ensures data security and control users are safe. Payslips can be generated and distributed to employees with ease. It can be integrated with biometric systems.

Pricing:

They have two packages that are fixed and billed up to 30 employees per month. However, once the size of the company increases, there is an additional charge per employee per month.

Paybook is suitable for organizations of all sizes.

  • SumHR:

This software allows you to evaluate its capabilities by offering a 7-day trial period. It monitors the performance of the employees and additionally, manages their salaries. With the help of the software, employees can themselves apply for a loan or an advance salary. It also simplifies the process of calculating the full and final settlements of

employees.

Features:

It is an ideal choice of payroll software for businesses that operate internationally as it supports multi-currency. It also has an automated payroll processing system in place. Its self-service portal allows employees to access and update their information or apply for loans/advance salary. The software’s system simplifies the income tax filing process.

Pricing:

They have a free plan for up to 10 employees. Beyond 10, the organization will be billed per employee per month depending on the scale of the subscription.

SumHR is suitable for small, medium, and large organizations.

  • Razorpay:

Razorpay is a user-friendly platform that has an intuitive and user-friendly interface that helps manage employees from their onboarding to their exit with additional features like offer letters and a CTC calculator. It is known for its finest integration abilities with various HR software for a complete HR solution. The software complies with tax regulations. It can easily calculate the payroll and automatically file the TDS, PF, etc.

Features:

Employees have access to their pay slips. They can make tax declarations using the software. It has a friendly interface leave management system that effectively manages employee leave. It is known for its one-click payroll processing. It has automated statutory compliance.

Pricing:

One of the best features of this software is its free plan. However, if one were to go for their pro plan then they would be billed per employee per month.

Razorpay is suitable for small, medium, and large organizations.

  • GreytHR:

GreytHR has around 20 years of experience in providing its customers with easy and hassle-free payroll software. It simplifies the payroll and statutory compliance by reducing the administrative burden on HR teams. One of its key features is its ability to offer fast and quick report generation. It also automates and takes care of reimbursements, loans, and advances. GreytHR is one of India’s leading cloud-based payroll software that ensures all aspects of payroll adhere to all statutory compliances.

Features:

It has three key features- Expense Management, Reimbursement Management, and Taxation Management where all the expenses are tracked in a streamlined manner, employee reimbursements are managed efficiently, and tax regulations are within compliance.

Pricing:

GreytHR has a free plan available for starters. After that, it has monthly packages that are billed according to the subscription package.

GreytHR is suitable for small, medium, and large organizations.

  • Keka:

Keka, unlike other payroll software, is quite employee-centric. Due to its user-friendly nature, it enables access to data from remote locations. The software focuses on being user-friendly so that it can be used by all. They claim that they are the only HR payroll software in the industry that facilitates easy participation of non-finance roles such as HR members in salary operations. One of their key features is allowing their users/employees to release payslips digitally or in SMS format.

Features:

It has a multi-user login feature where more than one user can log in and that software can support it. It can manage payrolls efficiently, and it is very good at managing company assets

Pricing:

Keka has only two packages that are priced per 100 employees of an organization.

Keka is suitable for only medium and large organizations.

  • FactoHR:

FactoHR is widely known for its distinguished HR and Payroll management solutions in India. This payroll system allows its customers to automate all the payroll operations in a way that the entire workflow starting from managing to the salary process is handled effortlessly. All of these process are possible due to its simplified and intuitive interface. It is considered to be the perfect cloud-based payroll solution that is secure and integrable enough to bring more ease in controlling of the financials.

Features:

One of its best features is the Mobile App HR feature. The software has the ability to compute salaries accurately, leaving no room for error. It ensures all of one’s statutory requirements are in compliance. All HR processes are streamlined with the help of AI assistance and AI-enabled chatbots.

Pricing:

Their pricing will only be available on request.

FactoHR payroll is suitable for small, medium, and large organizations.

  • Saral PayPack:

Saral Paypack is known for its multi-level access that can help navigate your files easily. It can easily capture the professional as well as the personal data of your employees. It is one of the easiest software to sort out your employees’ salaries and generate forms and PF without much hassle. Additionally, it has customization features wherein your payroll can be customized according to the size of your business. It ensures compliance with all legal requirements.

Features:

Its key feature is its ability to capture both personal and professional details of an employee. It can smoothly manage employee salaries. It also tracks attendance and leaves.

Pricing:

It has two packages with different pricing for a single user and multi-user.

Saral Paypack is suitable for only medium and large organizations.

  • People Apex:

People Apex is one of the globally used platforms. It is known for its complete attendance system that helps keep track of your employees. It can handle multiple payrolls according to organizational requirements. It also has comprehensive coverage for all the applicable tax laws. Due to its global presence, it has country-specific bank information for employee pay bank transfers. It allows employees to fill in their own tax information.

Features:

It has geotagging features, offers a portal to managers, and ensures that employee leaves are managed accurately.

Pricing:

People Apex pricing is available on request based on organizational requirements.

People Apex is suitable for organizations of all sizes like start-ups, mid-sized enterprises, and MNCs.

  • Pocket HRMS:

Pocket HRMS is a very user-friendly software that won the 29th edition of the World HRD Congress, 2021, as the ‘Best HRMS Software Award”. It has an amazing cloud-based system that helps with on-the-go mobility. HR finds this software very useful in stressful situations due to its one-stop solution for all expense management. It also has a self-service portal that keeps the organization very engaged. One of its best features is the modern HR—an AI-enabled chatbot for HR assistance.

Features:

It has a multi-company and multi-structure payroll system that supports complex payroll structures. It can easily generate all the necessary forms. Its employee self-service portal is one of its key features as it keeps the workforce quite engaged.

Pricing:

It has only two plans and is billed monthly.

Pocket HRMS is suitable for small, medium, and large organizations.

  • Akrivia HCM:

Akrivia HCM is an HR and payroll solution provider that is known for making payroll processes compliant and efficient globally. Its best feature is known to be the experience the employees have while using their software. Their software is designed, keeping in mind,  a flexible payment system that can be integrated with existing software. The software’s multi-currency payroll feature facilitates companies to automate the payment of employees and also keep track of their expenses. Its features allow the risk of human error in the calculation to be nullified by automating and generating comprehensive reports.

Features:

Akrivia HCM has an user-friendly nature that is designed to integrate with any existing software in a company, making the software more personal and streamlined to the organizational requirements. It’s excellent employee-centric feature allows the employees to have the best experience while using their self-service features. It is capably efficient enough to handle all the loans, advances, and benefits of the employees .

Pricing:

Akrivia HCM provides pricing based on your request and your organizational requirements.

The Akrivia HCM software is suitable for small, medium, and large organizations.

  • HROne:

HROne payroll software is known for its ability to handle the complexities of payroll management due to its integration-ready feature. They have a compliance-integrated three-step program in place. It starts from collection, analysing of data, and the final–reporting. It seamlessly integrates with other modules like attendance management and recruitment.

Features:

It can facilitate performance appraisal, making it easier for the management. It has a complete solution for HR and Payroll systems. It allows employee attendance to be recorded with the Biometric Attendance Management.

Pricing:

HROne provides pricing based on request only.

It is suitable for small, medium, and large organizations.

  • Beehive:

Beehive is an HR-friendly software that covers a wide range of HR activities for employees and HR teams simultaneously. It has the best reconfigurability feature that can accommodate any kind of HR requirement along with a necessary end-to-end solution. It can analyze employee data accurately by calculating leaves, exit, payroll, and travel management simultaneously. It has a cloud-based feature, along with on-premise and hybrid model features that can be flexible and defined as per company requirements.

Features:

Beehive software’s best feature is its ability to manage and simplify HR processes from recruitment, resignation, and retirement. It can efficiently manage employee working hours and comply with labor laws.

Pricing:

Beehive’s pricing is available only on request.

This software is suitable for small, medium, and large organizations.

  • Wave Payroll:

Wave Payroll offers a one-stop solution for financial management, allowing small business owners access to unlimited expense tracking. It facilitates maintaining and tracking all employee’s financial transactions. Additionally, it provides sales tax reports and profit and loss statements that ensure your payroll activities are done much easier.

Features:

It manages and facilitates employee benefits seamlessly. It can record and track the Vacation/Leave of employees. It offers employees a self-service portal that facilitates the processes for HR.

Pricing:

It has a starting fixed price that is billed monthly. The prices fluctuate based on your requirements for its features.

It is suitable for small, medium, and large organizations.

  • Qandle:

Being one of the most used payroll software in India, Qandle is known for making the complicated process of payroll much simpler. Their automated system ensures that all processes are completed with high levels of accuracy, ensuring there is no room for errors. Their streamlined process also handles compliance and employee benefits with great care and effectiveness.

Features:

Qandle’s statutory compliances ensure that all legal requirements are adhered to. Their main feature is the ability for employees to claim and manage their advances via the software. They also offer automated check-ins, which ensures the process is simplified.

Pricing:

Pricing is based on the number of employees and organization size; billed monthly.

Qandle is suitable for small, medium, and large organizations.

  • Zimyo:

Zimyo payroll is a cloud-based payroll software that is suitable for all kinds of businesses since its system can be tailored, customized, and used to set up pay schedules, wage structures, and payslips as per the company’s requirements. Their software has comprehensive features that allow companies to track employee loans, leaves, compliance, attendance, and much more.

Features:

Zimyo payroll is known to streamline the reimbursement for expenses. Additionally, their software ensures that the company’s legal requirements are in compliance. It has an accurate computation of salaries, ensuring there is a percentage of zero risk while paying employees.

Pricing:

Their pricing varies as per the size of the organization and is billed per user per month.

Zimyo payroll is suitable for small, medium, and large organizations.

  • Zoho Payroll:

Zoho payroll is known for its comprehensive payroll management. The system ensures that all aspects of the payroll administration are streamlined. They have a multi-state support system that facilitates businesses operating from across multiple states, ensuring that statutory compliance of personnel records is managed from centralization to payroll scheduling.

Features:

One of the prominent features of Zoho payroll is its direct deposit system that enables salaries to be directly deposited. They also offer a self-service portal for employees.

Pricing:

They have a free plan for up to 10 employees. After which they bill per employee for a fixed fee annually.

Zoho payroll is suitable for small, medium, and large organizations.

  • 247 HRM:

Known for its All-in-One HR solution, 247 HRM simplifies all your company’s tasks starting from payroll management, time tracking, and performance evaluation. It ensures that crucial organizational functions such as hiring, onboarding, and taxation are centralized. Additionally, the software facilitates employees to feel empowered by being able to manage their information.

Features:

It has a user-friendly interface that helps employees and management to navigate the platform with ease. The software is integrated with high-end security that safeguards HR data. Additionally, their automated payroll process not only simplifies it but streamlines it too. It can be integrated with biometric systems.

Pricing:

They have four different packages that are billed monthly.

247 HRM is suitable for small, medium, and large organizations.

Conclusion

All of the payroll software mentioned are some of the top solutions in India, each of which offers its own unique benefits and features. When choosing the right solution for your business one should keep in mind a few crucial points, i.e. what are your company’s specific requirements, what is the complexity of your payroll process, and most importantly what is your budget. The right payroll software will not only streamline the HR and payroll management in your company but will also ensure compliance with legal requirements. This will not only help with the reduction of errors but will contribute to the success of your business. However, it is a given that there is the best payroll solution for businesses of all sizes. Take the time to evaluate payroll software, and choose what fits your organizational needs and workforce best.

Table of Contents