Best Payroll Software for Large Businesses
Why Large Businesses Need a Payroll Software?
Owning a large business requires many resources and endless paperwork to ensure your company's compliance and your employees' satisfaction. Without the help of payroll and HR software dedicated to large businesses, your company will not be in compliance or may have costly tax risks. In today's modern and technological world, no business will thrive or grow as they manually operate their processes or keep physical records of all their employees, tax files, and paystubs. This is why we recommend some of the best payrolls for large businesses to provide companies with the digital solutions they never knew they needed.
Features to Look for
Large businesses with a huge number of employees will require more than just an automated payroll service to pay their employees, but also tax-filing, and HR & time and attendance software that seamlessly integrates with it to eliminate double data entry and automate every other process.
Tax filing and payments can be the most complex and confusing processes you may face while running a large business; any errors in filings or payments can cost your company a lot of money. This is where payroll software comes in to save you from the burden of tax filing and payments, as it can automate these processes. Some payroll software also offers tax insurance, where if you get fined for taxes while using their platform, they will gladly pay any amount on your behalf.
Most of the best payroll software for large businesses comes bundled with HR solutions, time tracking software, and employee management tools to optimize the overall performance of companies and improve their recruiting and onboarding strategies.
Time tracking software often provides you with an online timesheet that presents your staff's working hours. They are either automatically synced with the payroll to calculate their wages or imported with a few clicks. Time software sometimes also comes with a mobile application that allows employees to use it to punch in and out, and with geo-fencing protection, you ensure that they are on-premise when they do so. And there is more; a good time tracking software also allows employees to easily request time offs or vacations with a few clicks and have managers approve or deny them just as fast.
Moreover, employees in large businesses expect to be offered great benefit plans that they can easily enroll in and adjust their deductions, too. Payroll software for large businesses offers a benefits administration platform where it provides employees with open enrollment and easy access to a plan's details and information.
Some payroll software for large businesses also promises to be your insurance broker. It connects you with the top insurance carriers in the US and allows you to work with your existing broker within its platform.
Now that you are too familiar with why a large business needs payroll software, let us present you with our top recommendations for payroll software for large businesses to make the research easy for you.
Best Payroll Software for Large Businesses
ADP is one of the best payroll software providers in the industry, which is why we placed it as our top pick for the best payroll software for large businesses. ADP offers superior payroll and HR tech and is trusted by more than 900,000 clients.
ADP provides large businesses with all the tools and solutions they need to manage their operations at optimum efficiency. Besides payroll and tax filing services, ADP's solutions include workforce management, which allows you to meet the needs of today's largest working population and take on the challenges of managing your workforce. In addition, it packs countless features, some of which include allowing you to:
- Monitor labor costs and time
- Optimize employee calendars and connect work schedules with traffic
- See the types of employees you have
- Access employee profiles
- Approve timesheets and time-off requests
ADP's benefits platform allows you to address the four C's of benefits administration: Cost, Compliance, Culture, and Consumerism. It offers employees a simplified open enrollment process, side-by-side comparisons, total compensation statements, reimbursements and spending accounts, and much more. The benefits platform is also mobile-friendly, so your employees can access their benefits plans and data from any time and anywhere.
ADP will also ensure your company stays compliant with labor laws and regulations with its innovative compliance tools and global HR compliance updates, support, and reporting.
ADP offers four plans for its payroll and HR software: Essentials, HR Plus, Hiring Advantage, and Performance Plus. Prices are not advertised, so you will need to contact their sales team to get your price.
Paylocity is our second pick for the best payroll software for large businesses. It provides inclusive HR and payroll software that seamlessly integrates with any network of systems you already have in place.
Paylocity's software can automate your payroll runs, tax filing, and payments. It can also handle your employees' garnishments and deductions for benefit plans. In addition, you can choose to pay your employees with direct deposits and on-demand payment; the latter allows your employees to have a part of their salary before payday, so they remain worry-free about bill paying.
As for its HR solutions, it provides you with a streamlined employee document management where you get a centralized view of all documents regarding your employees, so you stay organized, secure, and compliant. Moreover, it provides you with clear visibility over your employees' positions and allows you to configure them, predict vacancies, manage budget changes, and track compensations while maintaining compliance.
Furthermore, it offers workforce management that will help you track your staffs' working hours with modern time tracking methods that feature geo-fencing. Your employees can use their mobiles, web, or kiosks to clock in and out once they are on site.
Paylocity does not advertise any prices for its payroll software, so you will need to get in touch with them to get the price and package that suits your businesses the most.
Rippling is our third option for the best payroll software for large businesses. Its highlight feature of global payroll capabilities proves most useful for large businesses with remote employees from around the world and can have them paid without breaking a sweat.
Rippling can process payroll runs in 90 seconds, and it automates your tax filing and compliance. The payroll software also syncs with Rippling's time and attendance software to automatically calculate your employee's wages according to their working hours.
It packs a unique policy engine that will help you design and enforce your company's policies. It simplifies creating complex policies and automatically transfers an employee's policies when their position changes. The policy engine also integrates with your other systems, which allows you to set up and customize rules to your liking.
Another key feature Rippling's platform offers is workflow automation. It allows you to create custom triggers and powerful actions; you can either build such actions from scratch or use internal data, third-party data, or pre-set formula fields.
Rippling will also make your recruiting and onboarding processes easy and successful. Its applicant tracking system allows you to post job openings across multiple channels, with the ability to create custom hiring workflows and processes.
Rippling offers three packages for its payroll software: The Workforce Platform, HR Cloud, IT Cloud. Unfortunately, their prices are not clear, so we recommend reaching out to their sales team to get the package and price that suits your business better.
4. Papaya Global
Get Papaya Global Payroll Now!
Papaya Global is an international payroll platform, and that is what sets it apart. It is very simple to hire workers in more than 160 different countries thanks to the cloud-based SaaS platform of Papaya Global. Through the system of Papaya Global, clients will have access to a global workforce! So, why select Papaya Global?
- Its clients have access to and control over the costs of their international workforce.
- Clients can also take advantage of Papaya's cutting-edge security and privacy features and easy access to in-house legal counsel and international payroll experts.
- With Papaya, someone who is hired through an EOR can switch to regular payroll in as little as one pay cycle.
Papaya stands out from the competition thanks to its quick "go live" period of just 2–3 months, which contrasts with other integrations that can take up to 12 months to go live. In addition, Papaya offers many perks, such as well-rounded services, all three types of global employment options, payroll services, compliance, a global platform, and more. On top of that, clients get the following features:
- Cross-border payments
- Employee portal
- Global benefits, equity, and immigration
- Devoted account manager
- Center of Excellence and Legal Team
- Company hub
- Knowledge base
The fees are as follows:
- If the corporation has a presence in the country in question, there will be $20 on payroll.
- If the corporation doesn't, there will be a $650 EOR fee.
- $25 for each contractor
It is safe to assume that Papaya Global is an honest, customer-focused business. With that being said, companies should look at other options too and make sure they ultimately choose the one that is best for them, but we would absolutely recommend it.
Get Papaya Global Payroll Now!
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