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5 Payroll Technology Providers that Your Business Should Consider
November 19, 2018
Payroll-Technology

5 Payroll Technology Providers that Your Business Should Consider

A quick online search for payroll technology providers will return countless options. Chances are, one or more of these options will make payroll administration far easier and efficient for you., but it can be challenging to determine which one is best for your company’s needs.

The critical differences between payroll technology providers, though, are simple to sort through. Ultimately, you’ll want to compare providers based on pricing, features, and customer service. In this post, we’ll help you do that by describing five payroll technology providers that could be useful to your company’s payroll efforts.

Which Payroll Technology Provider is Right for Your Business?

1. Gusto

You can use Gusto as a simple payroll technology provider or as your very own HR department, but it depends on the package you choose. Gusto Core is the basic payroll package, which costs $39 per month, plus another $6 per month for each additional user. With Gusto Core, you can run full-service payroll, administer health benefits and workers’ comp, and track paid time off.

Customer support and employee self-service is also included in the basic Core package. Plus, significant admin work will be automated because state and federal payroll taxes can be automatically calculated by Gusto. Plus, since it’s a cloud-based software, you and your employees can access it from any web browser.

2. QuickBooks

QuickBooks payroll software comes in two packages; one is self-service and the other is full-service. As you might expect, self-service is more affordable at $19 per month, with an extra$2 per month for each additional user. Full-service is $49.50 per month and $2 per month for each additional user.

With self-service, you can set up direct deposits, run payroll, and file year-end forms. If you sign up for full-service, you’ll receive all the benefits of the self-service package, except that payroll taxes and W-2s are done for you. Plus, full-service subscribers benefit from QuickBooks’s no-penalty guarantee. This means that QuickBooks will represent you to resolve payroll tax issues or pay any penalties. QuickBooks payroll service is available on any web browser, so it’s a convenient tool to use.

3. OnPay

OnPay keeps things simple with one monthly fee of $36 per month, plus $4 per employee or contractor. Like Quickbooks, OnPay guarantees accuracy, automates payroll taxes, and provides assistance when needed. Plus, using OnPay, employees can onboard themselves which saves you time.

According to Software Advice, OnPay integrates with several third-party applications including but not limited to Quickbooks, Guideline, Humanity, and Zero. In addition, you can use OnPay to administer your 401(k) plan. Like Quickbooks and Gusto, OnPay is accessible from any web browser.

4. Paychex

Paychex doesn’t provide pricing information on its website, so you’ll have to request a quote to get an exact price. However, according to FitSmallBusiness.com, the fee for payroll is $77 per pay period plus a $200 set up fee. Moreover, if you want to process W-2s and 1099s, you’ll be charged another $60, plus $6.25 per employee.

You can expect standard features such as payroll calculations, direct deposits, and customer service via phone, email, and chat. While Paychex is relatively expensive compared to other options on this list, they offer a wide range of other HR solutions for an additional cost. Plus, the company has been around for a long time, so if you’re more comfortable with a well-established company, they’re a good provider to consider.

5. Sage

Like Paychex, Sage doesn’t list its pricing information, but FitSmallBusiness.com, the lowest price for Sage’s payroll technology is $49.95 per month. The Sage Group, which is the provider of Sage’s technology, has been around for over 35 years, which should give you peace of mind that your payroll provider is stable. Plus, they provide all the features that you’ll need to run a basic payroll department.

Unlike the other options in this list, Sage Payroll will bill according to the number of payrolls you run. Using Sage, you can pay employees with direct deposit, check, or pay cards. Your employees will have online access to paycheck info and W-2s and/or 1099s and the software tracks PTO and overtime. Sage provides many other types of HR software, so if you need to administer other HR tasks, you can simplify your processes by using Sage for everything.

Conclusion

The quickest and most effective way to choose a payroll technology provider is to create a list of your company’s needs. Then, you can compare your options and quickly filter out the providers that don’t offer the features that you’re looking for. With a shortlist of providers in hand, review each vendor’s pricing model and compare costs. Finally, do a trial run of the software to make sure that it’s user-friendly and has all the services that your business requires.

Ultimately, the technology provider that makes things as seamless and easy for you is your best value, even if the monthly price is higher.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].
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