Introduction
Payroll is a critical business function that requires reliable software to handle tax calculations, pay processing and compliance reporting. With the variety of payroll software available today, selecting the right solution can be overwhelming. This guide evaluates 15 of the leading payroll platforms and considers their strengths for organizations of different sizes and industries. Key criteria like ease of use, features, integration capabilities and pricing are examined to help you find the optimal payroll partner.
Methods of Evaluation
Each payroll software will be evaluated based on features, pricing, support/service, ease of use and integrations. Additional criteria like number of backlinks, average monthly search volume and traffic will also be used to assess overall popularity and ranking. Special consideration will be given to solutions tailored for companies of specific sizes from small businesses to enterprises. Customer reviews and case studies will supplement the core criteria to get a well-rounded perspective on real-world experiences.
1. QuickBooks Payroll
QuickBooks Payroll is payroll and HR software created by Intuit, the maker of QuickBooks accounting software. With over 4 million customers, QuickBooks Payroll is one of the most popular payroll solutions for small businesses in the United States.
Pros: Some key advantages of QuickBooks Payroll include:
– Trusted and commonly used payroll software
– Integrates seamlessly with QuickBooks accounting software
– Simple and easy to use interface
Cons: A potential disadvantage is that it may not be as full-featured as some other dedicated standalone payroll software solutions.
Pricing: QuickBooks Payroll pricing starts at $30 per month for the Essentials plan which supports up to 25 employees. The Plus plan is $60 per month and supports up to 150 employees. There are also Advanced and Elite enterprise plans for larger businesses.
Some key stats about QuickBooks Payroll include:
– Processes payroll for over 4 million American small businesses
– Integrates seamlessly with QuickBooks accounting software
– Over 25 years of experience providing payroll and HR solutions
2. Xero Payroll
Xero Payroll is Xero’s native payroll solution that is seamlessly integrated with their accounting software. As one of the top online accounting platforms for small businesses, Xero strives to offer a complete back office solution with their payroll product.
Pros: The key advantages of Xero Payroll include: simple payroll that is fully integrated with Xero accounting workflows, automated tax payments and reporting to streamline compliance, dedicated help center and payroll advisors for fast support.
Cons: One potential disadvantage is that it may not support all of the advanced payroll features needed by very large or complex businesses with specialized payroll needs.
Pricing: Xero Payroll pricing starts at $39 USD per month for up to 5 employees. Pricing scales up based on the number of employees up to $299 USD per month for unlimited employees.
Some key stats about Xero Payroll include: powers payroll for over 50,000 customers globally, integrates payroll transactions directly into your Xero accounting records for real-time financials, supports payroll runs for up to 500 employees per month.
3. BambooHR
BambooHR is an HR software provider that offers a complete HRIS solution with integrated payroll outsourcing options. Founded in 2008, BambooHR is based in Lindon, Utah and serves over 18,000 customers globally across various industries. Their platform provides functionality for onboarding, time tracking, benefits administration, performance reviews and other HR needs to simplify people management processes.
Pros: Some key advantages of BambooHR include:
– Powerful yet user-friendly HRIS solution that is easy for both HR and employees to use
– Flexible payroll outsourcing options that allow handling payroll in-house or outsourcing it fully to BambooHR
– Effective performance review features with goal setting, competencies and continuous feedback
– Affordable monthly pricing that scales well for organizations of all sizes
Cons: One potential disadvantage is that the platform may not be as feature-rich as some competitors for very large enterprises with complex HR needs.
Pricing: BambooHR offers flexible pricing plans starting from $6 per employee per month for essentials to $12 per employee per month for premium. Additional per employee fees apply for add-ons like payroll processing and PTO tracking. Custom packages are also available for enterprise customers.
Some key stats about BambooHR include:
– Serves over 18,000 customers worldwide
– Processes payroll for over 500,000 employees every month
– Integrates with over 150+ apps including Slack, Sharepoint, and Microsoft Teams
– Named a leader in the Forrester Wave for HR Service Delivery in 2020
4. Small Business Payroll (FreshBooks)
Small Business Payroll is the payroll solution offered by FreshBooks, a leading cloud-based accounting software. Small Business Payroll is fully integrated with the FreshBooks accounting platform, making payroll seamless for FreshBooks customers.
Pros: Key advantages of Small Business Payroll include:
– Intuitive payroll solution tailored for FreshBooks users
– Competitively priced payroll and tax filing services
– Easy to use payroll solution designed for small businesses
– Fully integrated payroll means no data entry or duplicate work
Cons: The main disadvantage is that Small Business Payroll is only available to FreshBooks customers and not as a standalone solution.
Pricing: Small Business Payroll pricing starts at $30/month billed annually for up to 5 employees. Additional pricing tiers are available for more employees. Integrated payroll tax filing is included in all plans.
Key stats about Small Business Payroll include:
– Processes payroll for over 100,000 small businesses
– Handles payroll tax filing for all 50 U.S. states
– Integrates payroll directly into FreshBooks for a seamless experience
5. Workday
Workday is a leader in enterprise cloud applications for finance and human resources. Their flagship product, Workday Financial Management, offers powerful payroll capabilities that are highly scalable and help organizations efficiently manage their global workforces. With over 45,000 customers worldwide, Workday has become a trusted partner for many large enterprises.
Pros: Some key advantages of Workday’s payroll solution include: its powerful enterprise payroll engine can efficiently handle complex global and domestic payroll needs, robust analytics and reporting tools provide deep insights into compensation trends and spend, seamless integration with Workday HCM ensures a unified experience, and multi-country capabilities allow for standardized processes across international operations.
Cons: A potential disadvantage is Workday’s payroll solution requires a sizable investment and long-term commitment due to its position as an enterprise solution best suited for large organizations with global payroll needs.
Pricing: Workday pricing is based on the number of users/workers that need access. It is usually sold as a bundled subscription that includes payroll alongside other Workday financials and HCM applications. Pricing starts in the tens of thousands per year for smaller deployments and can scale up to over $1 million annually for extremely large enterprises with 50,000+ users.
Some key stats about Workday’s payroll solution include: it supports payroll processing for over 25 million workers globally, offers payroll capabilities in over 190 countries/territories, and processes over $1 trillion in annual payroll transactions.
6. Wave Payroll
Wave Payroll is a Canadian-based payroll software created by Wave Financial. In addition to payroll services, Wave also offers free accounting software and credit card processing capabilities. Founded in 2003, Wave aims to provide small businesses with an all-in-one solution for their financial needs.
Pros: Some of the main advantages of Wave Payroll include:
– Low flat monthly or annual fees beyond the basic free level
– Integrations allow payroll and accounting data to be connected in one place
– Intuitive and easy-to-use interface simplifies payroll tasks
– Dedicated customer support for any payroll questions or issues
Cons: One potential disadvantage is that Wave Payroll may have fewer features compared to more expensive dedicated payroll solutions. The free basic version also has limitations such as a maximum of 5 employees.
Pricing: Wave Payroll pricing includes:
– Free basic payroll for businesses with under 5 employees
– Subscription plans starting at $15/month per employee or $179 annually per employee for additional features and support
Some key stats about Wave Payroll include:
– Free basic payroll for companies with under 5 employees
– Over 30,000+ Canadian customers
– Processes $1 billion+ in payroll annually
– Integrates seamlessly with Wave’s free accounting software
7. Paychex Flex
Paychex Flex is a comprehensive payroll and HR solution developed by Paychex, a leading provider of HR, payroll, benefits, and insurance services for small- to medium-sized businesses. Founded in 1971 and headquartered in Rochester, New York, Paychex serves over 670,000 clients across 100 different industries. Paychex Flex allows businesses of all sizes to effectively manage payroll, benefits administration, time and attendance tracking, and other HR-related tasks in one integrated cloud-based platform.
Pros: Some key advantages of Paychex Flex include:
– Desktop and mobile friendly payroll software
– Great customer support
– Integration with HR and benefits administration
– Robust reporting and analytics
Cons: One potential disadvantage is that Paychex Flex is missing some advanced features present in more expensive competing products like automatic pay increases and accrual tracking.
Pricing: Pricing for Paychex Flex starts at $26 per month for basic online payroll processing and includes unlimited payroll transactions, year-end forms, and support. Additional modules like HR, Time & Attendance, and Benefits Administration are available for supplemental monthly fees.
Some key stats about Paychex Flex include:
– Over 670,000 clients
– Supports businesses across 100+ industries
– Integrated platform for payroll, HR, benefits, and time tracking
– Desktop and mobile-friendly apps and portals
8. Zenefits
Zenefits is an all-in-one HR platform that offers payroll, benefits administration, and HR services through its cloud-based software solution. Founded in 2013 and headquartered in San Francisco, Zenefits helps businesses manage the full employee lifecycle through its People Ops Platform.
Pros: Some key advantages of Zenefits include: All-in-one solution for HR, benefits, and payroll needs; Modern, easy-to-use interface designed for intuitive user experience; Great option for fast-growing startups and small businesses; Competitive pricing plans
Cons: One potential disadvantage is that Zenefits lacks some advanced reporting and analytics compared to some higher-priced platforms.
Pricing: Zenefits offers three pricing tiers – Essentials, Premium, and Elite. Pricing starts at $4 per employee/month for payroll processing and HR services for the Essentials plan.
Some key stats about Zenefits include: Powering payroll and HR for over 20,000 small and medium-sized businesses; Supports businesses with up to 500 employees; Processes over $20 billion in payroll each year.
9. Paycor
Paycor is a leading provider of human capital management (HCM) software. Founded in 1990 and headquartered in Cincinnati, Ohio, Paycor simplifies complex businesses challenges with a single-instance platform that combines HR, payroll, talent and time into one solution. With Paycor, you can easily manage essential HR functions anytime, anywhere.
Pros: Key advantages of Paycor’s HCM platform include:
– Centralized system for processing payroll, benefits enrollment, employee profiles and more
– Exhaustive features covering all HR and talent needs for small to mid-sized businesses
– Excellent service and support with certified implementation specialists
– Mobile app for managing HR on the go from any device
Cons: One potential drawback is the pricing – while competitive, Paycor may be more expensive than basic payroll-only solutions for very small businesses with basic needs.
Pricing: Paycor offers customizable pricing based on features and number of employees. Starting pricing begin around $5 per employee/per month for basic payroll only solutions. Additional modules for HR, benefits, and talent management are priced separately. Implementation, onboarding and annual support fees may also apply depending on the customer’s needs.
Some key stats about Paycor include:
– Over 50,000 customers primarily in the U.S.
– Processes payroll for over 500,000 employees
– Feature-rich platform that handles payroll, HR, benefits, talent and time tracking
– Offers 24/7 support with less than 30-second response times
10. Insperity
Insperity is a leading provider of human resources and business solutions. Founded in 1986 and based in Houston, TX, Insperity designs HR and business strategies to help companies save time and manage risks. One of Insperity’s flagship products is its comprehensive payroll solution.
Pros: Advantages of Insperity’s payroll solution include:
– Full outsourcing of payroll processing and tax filings reduces client workload
– Dedicated client support from licensed HR experts and local account teams
– Provides full HR services like benefits administration as part of its Professional Employer Organization (PEO) model
– Sophisticated payroll system ensures accuracy in pay calculation and compliance
Cons: One potential disadvantage is that Insperity’s all-inclusive model requires companies to outsource their full suite of HR functions rather than just payroll processing alone.
Pricing: Pricing for Insperity’s payroll solution depends on the client’s size and specific HR needs. It is typically priced as a percentage of payroll costs, charged on a per-employee-per-month basis. Please contact an Insperity representative for an exact customized quote.
Some key stats about Insperity’s payroll solution include:
– Over 100,000 clients served in the US
– Handles payroll for over 1 million employees
– Processes over $60 billion in payroll each year
– 30 years of experience in the HR and payroll industry
11. Patriot Payroll
Patriot Payroll is accounting and payroll software designed for small and medium-sized businesses. Founded in 1999, Patriot Payroll provides online payroll and accounting solutions to help businesses of all sizes automate financial tasks and manage their employees with ease.
Pros: Some key advantages of Patriot Payroll include:
– Robust functionality for complex payrolls including tips, commissions, bonuses, and more
– Dedicated client support team available via phone and email
– Features compensation, benefits and core HR management tools
– Strong reputation in the mid-market space for reliability and accuracy
Cons: One potential disadvantage is that the online interface may not be as customizable as some on-premise solutions. However, this is offset by the ease of use and accessibility of the software from any internet-connected device.
Pricing: Pricing starts at $25 per month for the basic package and scales up based on the number of employees and additional features needed. Volume discounts are also available for larger organizations. All packages include unlimited access to support, automatic updates, and integration with bookkeeping and accounting software.
Some key stats about Patriot Payroll include:
– Processes over $50 billion in payroll transactions annually
– Supports over 50,000 clients across all 50 states
– Named one of the top payroll providers by multiple third party reviews
12. Ceridian Dayforce
Ceridian Dayforce is a leading cloud-based HCM (human capital management) platform that provides payroll, HR, benefits, and workforce management capabilities. Founded in 1984, Ceridian Dayforce is now used by over 3,500 employers worldwide with over 4 million employees on its platform.
Pros: Key advantages of Ceridian Dayforce include:
– Cloud-based HCM platform including payroll, HR, benefits, and talent management capabilities
– Robust reporting and analytics capabilities to track and analyze workforce trends
– Expert 24/7 customer support for any payroll or HR-related questions
Cons: One potential disadvantage is that as a fully-cloud solution, Ceridian Dayforce requires an internet connection to access the system and perform tasks like running payroll.
Pricing: Ceridian Dayforce pricing starts at $7 per employee/per month for basic payroll and HR functionality. Additional fees apply for extra modules like benefits administration, talent management, and advanced reporting and analytics.
Some key stats about Ceridian Dayforce include:
– Over 3,500 clients globally across various industries
– Handles payroll and HR for over 4 million employees
– Offers 24/7 support from HR and payroll experts
13. Kronos Workforce Ready
Kronos Workforce Ready is a leading payroll and workforce management solution developed by Kronos, now part of UKG. For over 45 years, Kronos has helped organizations from various industries optimize labor costs and streamline payroll processes. With Workforce Ready, businesses have access to an all-in-one solution for payroll, time and attendance, scheduling, and HR functionality.
Pros: Key advantages of Kronos Workforce Ready include:
– Integrated payroll, scheduling, and HR functionality for visibility into labor costs.
– Robust analytics and reporting tools to track labor expenses and ensure compliance.
– Handles complex compensation rules and calculations for overtime, bonuses, commissions, and other pay types.
– Mobile functionality for employees to request time off, view schedules, and check pay stubs on the go.
Cons: A potential disadvantage is that the solution may be an overkill for very small businesses with basic payroll needs due to its enterprise-grade functionality and pricing. Basic payroll requirements can likely be met with cheaper alternatives.
Pricing: Kronos Workforce Ready pricing varies depending on the number of employees, modules, and required functionality. It is typically priced on a per-employee, per-month basis with discounts available for annual commitments. Demo access is available online for evaluating the solution.
Some key stats about Kronos Workforce Ready include:
– Used by over 7,000 organizations worldwide across various industries like retail, healthcare, manufacturing, and more.
– Processes payroll for over 10 million employees every pay period.
– Integrates with over 300 HR and financial systems like ADP, Oracle, SAP, and others.
14. FreeAgent
FreeAgent is an all-in-one accounting and payroll software for UK small businesses. Since 2006, it has helped over 60,000 businesses automate paperwork and streamline financial tasks. With FreeAgent, business owners can invoice clients, track expenses, and pay employees all from one simple platform.
Pros: Some key advantages of FreeAgent include:
– All-in-one accounting and payroll software so you can centralize your finances.
– Free upgrades and migrations so you always have the latest features.
– User-friendly interface with step-by-step guides to help you learn as you go.
Cons: One potential disadvantage is that FreeAgent’s payroll feature is only available for UK-based companies and employees at this time.
Pricing: FreeAgent offers four pricing tiers:
– Free plan for sole traders and freelancers
– Premium plan from £6 + VAT per month for up to 3 users
– Plus plan from £12 + VAT per month for up to 5 users
– Elite plan from £24 + VAT per month for up to 10 users
Some key stats about FreeAgent include:
– Over 60,000 businesses currently use FreeAgent accounting software.
– FreeAgent processes £10 billion in invoices and expenses each year.
– It supports self-employed individuals, freelancers, and teams of up to 50 employees.
15. Deputy
Deputy is employee scheduling, timesheet, and time clock software that helps businesses save time on administrative tasks. Founded in 2012 and based in Melbourne, Australia, Deputy aims to provide a simple and intuitive solution for managing employee hours and payroll.
Pros: Some key advantages of Deputy include:
– Robust time and attendance tracking with geofencing and facial recognition capabilities
– Integrated payroll processing simplifies payroll runs directly from timesheet data
– Strong compliance focused features help ensure accurate pay for employees
– Affordable pricing for premium features including employee self-service mobile apps
Cons: One potential disadvantage is that the more robust features such as geofencing require additional premium paid plans. However, the basic time tracking features are available on the free plan.
Pricing: Deputy offers three pricing tiers:
– Free plan supports up to 5 employees for basic time tracking
– Premium plan starts at $9/employee/month and unlocks additional features
– Enterprise plans for larger businesses with custom pricing
Some key stats about Deputy include:
– Used by over 30,000 businesses worldwide
– Processes payroll for over 300,000 employees
– Integrates with over 35 payroll providers including PayPal, QuickBooks, and Xero
– Named one of Australia’s 100 most innovative companies in 2020
Conclusion
By looking at billing structures, available features, industry reputation and other comparison points, the research aims to break down this complex evaluation into an actionable framework. Whether you need basic processing, robust compliance or full HR/payroll management, this guide examines the top options to fit businesses across all sectors and sizes. Choosing the right payroll partner can empower your business for years to come through cost savings, efficiency gains and risk mitigation. Our analysis identifies several leading providers primed to seamlessly handle payroll for organizations in 2023 and beyond.