10 Best Enterprise Payroll Software in 2024

Enterprise payroll software is important for any large organization. This system must be able to handle complex payroll tasks efficiently and comply with various tax laws and regulations.

Businesses need to consider the type of payroll software that integrates seamlessly with their existing systems and provides the flexibility to adapt to changing regulations and company growth.

• Best Enterprise Payroll Software

• What is Enterprise Payroll Software

• Key Features of Payroll Software

• Payroll Software Security

• Implementation and Adoption

• Benefits of Advanced Analytics

• System Integration

• Final Thoughts

What is The Best Enterprise Payroll Software?

Let’s talk about the best enterprise payroll systems for businesses today, with the pros, cons, and key features.

1. Deel

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Deel is a leading payroll software designed for global teams, providing a seamless way to hire and pay employees internationally. It simplifies the complexities of cross-border payroll, compliance, and benefits administration. With Deel, businesses can easily manage contracts, payroll, and taxes in over 150 countries, ensuring compliance with local regulations and laws.

The platform offers automated payroll processing, which includes the calculation of salaries, deductions, and taxes, making it an efficient solution for companies with a diverse workforce. Deel also integrates with various financial tools and platforms, providing a comprehensive solution for financial management. Additionally, Deel supports multiple payment methods, allowing employees to receive their salaries through their preferred channels.

Deel's user-friendly interface and robust customer support make it an ideal choice for companies looking to streamline their payroll processes. The platform offers detailed reporting and analytics, enabling businesses to make informed decisions based on real-time data. With its focus on compliance and ease of use, Deel is a top choice for enterprises looking to manage their global payroll needs efficiently. Rate and review Deel yourself.

Pricing

• Starts at $49 per employee/month. Check website for price changes.

Ideal for

• Large teams

Get started with Deel

2. Oyster HR

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Oyster HR is a global employment platform designed to simplify the hiring and management of remote teams. It enables businesses to hire employees from anywhere in the world while ensuring compliance with local labor laws and regulations. Oyster HR is ideal for companies looking to expand their global footprint without the complexity of managing international payroll and compliance.

The platform offers automated payroll processing for employees in multiple countries, handling salary calculations, tax filings, and benefits administration. Oyster HR ensures compliance with local employment laws, reducing the risk of legal issues and fines. Additionally, the platform provides various payment options, allowing employees to receive their wages in their preferred currency and method.

Oyster HR also includes features for employee onboarding, time tracking, and expense management. The platform's user-friendly interface and robust customer support make it easy for businesses to manage their global workforce.

With real-time analytics and reporting, companies can gain valuable insights into their international operations. Oyster HR is an excellent choice for enterprises looking to hire and manage remote teams effectively. Rate and review Oyster HR yourself.

Pricing

• Starting at $25 per employee/month. Check website for price changes.

Ideal for

• Large teams

Get started with Oyster HR

3. ADP Workforce Now

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ADP Workforce Now is a comprehensive human capital management (HCM) solution designed for medium to large businesses. It provides a suite of tools for payroll, HR, time and attendance, talent management, and benefits administration. ADP Workforce Now is known for its robust features and scalability, making it suitable for organizations with complex payroll and HR needs.

The payroll module in ADP Workforce Now automates the entire payroll process, ensuring accurate and timely payments. It handles tax calculations, deductions, and compliance with local, state, and federal regulations. The platform also offers direct deposit and electronic pay card options, making it convenient for employees to receive their wages. ADP Workforce Now integrates seamlessly with other HR and financial systems, providing a unified solution for managing employee data.

In addition to payroll, ADP Workforce Now offers advanced HR functionalities, such as employee self-service portals, performance management, and recruitment tools. Its analytics and reporting capabilities provide valuable insights into workforce trends and operational efficiency. With its extensive feature set and reliable performance, ADP Workforce Now is a trusted choice for businesses seeking a comprehensive HCM solution. Rate and review ADP yourself.

Pricing

• Custom pricing, contact for a quote. Check website for price changes.

Ideal for

• Large teams

Get started with ADP

4. Workday HCM

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Workday Human Capital Management (HCM) is a cloud-based software solution that offers a wide range of HR, payroll, and financial management tools. It is designed to help organizations manage their workforce more effectively and make data-driven decisions. Workday HCM is known for its user-friendly interface and flexibility, making it a popular choice among enterprises.

The payroll functionality in Workday HCM is highly configurable, allowing businesses to tailor it to their specific needs. It supports global payroll management, ensuring compliance with various regulatory requirements. Workday HCM automates payroll processing, including tax calculations, deductions, and year-end reporting, reducing the administrative burden on HR teams. The platform also offers self-service options for employees, enabling them to access their pay statements and update personal information.

Workday HCM goes beyond payroll by providing comprehensive HR management features. It includes modules for talent acquisition, performance management, learning and development, and succession planning. The platform's advanced analytics and reporting tools enable organizations to gain insights into workforce trends and optimize their HR strategies. With its integrated approach to HR and payroll management, Workday HCM is an ideal solution for enterprises looking to streamline their operations and enhance employee engagement. Rate and review Workday HCM yourself.

Pricing

• Pricing varies based on the size and needs of an organization. Check website for price changes.

Ideal for

• Large teams

Get started with Workday HCM

5. Rippling

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Rippling is an all-in-one HR and IT platform that combines payroll, benefits, and employee management into a single, cohesive system. It is designed to simplify administrative tasks and provide a seamless experience for both employers and employees. Rippling's innovative approach to HR and IT integration sets it apart from traditional payroll solutions.

The payroll feature in Rippling automates the entire payroll process, ensuring accuracy and compliance with tax regulations. It handles various aspects of payroll, including salary calculations, deductions, and tax filings. Rippling also supports multiple pay schedules and payment methods, providing flexibility for businesses. The platform integrates with numerous accounting and financial software, streamlining financial management and reporting.

Rippling's unique value proposition lies in its IT management capabilities. It allows businesses to automate the provisioning and de-provisioning of employee devices and software, ensuring that employees have the tools they need from day one. The platform also includes features for benefits administration, time tracking, and employee onboarding. With its comprehensive feature set and intuitive interface, Rippling is an excellent choice for companies looking to unify their HR and IT operations. Rate and review Rippling yourself.

Pricing

• Starts at $8 per user/month. Check website for price changes.

Ideal for

• Small teams, Large teams

Get started with Rippling

6. Paylocity

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Paylocity is a cloud-based payroll and human capital management software designed for medium to large businesses. It offers a wide range of features to manage payroll, HR, benefits, time and attendance, and talent management. Paylocity's user-friendly interface and robust functionality make it a popular choice for organizations seeking an integrated HCM solution.

The payroll module in Paylocity automates payroll processing, including tax calculations, deductions, and compliance with federal, state, and local regulations. It offers direct deposit and check printing options, ensuring employees receive their pay accurately and on time. Paylocity also provides detailed payroll reports and analytics, enabling businesses to track payroll expenses and make informed financial decisions.

In addition to payroll, Paylocity offers comprehensive HR management tools. These include employee self-service portals, performance management, recruitment, and onboarding features. The platform's time and attendance module simplifies tracking employee hours and managing leave requests. With its extensive features and seamless integration, Paylocity helps businesses streamline their HR and payroll processes, improving overall efficiency and employee satisfaction. Rate and review Paylocity yourself.

Pricing

• Custom pricing per product. Check website for price changes.

Ideal for

• Small teams, Large teams

Get started with Paylocity

7. Papaya Global

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Papaya Global is a cloud-based payroll and workforce management platform designed for global businesses. It offers a comprehensive solution for managing international payroll, compliance, and employee benefits. Papaya Global simplifies the complexities of cross-border payroll, making it easier for companies to expand their operations globally.

The platform automates payroll processing for multiple countries, ensuring compliance with local tax laws and regulations. It handles salary calculations, deductions, and tax filings, reducing the administrative burden on HR teams. Papaya Global also offers a range of payment options, including direct deposit and international wire transfers, allowing employees to receive their wages in their preferred currency.

Papaya Global's workforce management features include employee onboarding, time and attendance tracking, and benefits administration. The platform provides real-time analytics and reporting, giving businesses valuable insights into their global workforce. With its focus on compliance and automation, Papaya Global is an ideal solution for enterprises looking to manage their international payroll and workforce effectively. Rate and review Papaya Global yourself.

Pricing

• Starts at $20 per employee/month. Check website for price changes.

Ideal for

• Large teams

Get started with Papaya Global

8. BambooHR

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BambooHR is a cloud-based human resources software designed for small to medium-sized businesses. It offers a range of features to manage HR tasks, including payroll, benefits, time tracking, and employee data management. BambooHR is known for its intuitive interface and ease of use, making it a popular choice for growing companies.

The payroll module in BambooHR integrates seamlessly with its HR management tools, providing a unified solution for managing employee data and payroll processing. It automates payroll calculations, tax filings, and compliance with federal, state, and local regulations. BambooHR also offers direct deposit and electronic pay stubs, ensuring employees receive their pay accurately and on time.

In addition to payroll, BambooHR provides comprehensive HR management features, such as applicant tracking, performance management, and employee self-service portals. The platform's time-tracking module simplifies tracking employee hours and managing leave requests. With its user-friendly interface and robust functionality, BambooHR helps businesses streamline their HR and payroll processes, improving overall efficiency and employee satisfaction. Rate and review BambooHR yourself.

Pricing

• Contact sales to get pricing. Check website for price changes.

Ideal for

• Small teams, Large teams

Get started with BambooHR

9. Dayforce

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Ceridian Dayforce is a comprehensive human capital management (HCM) platform that offers a wide range of HR, payroll, and workforce management tools. It is designed to help organizations manage their workforce more effectively and make data-driven decisions. Ceridian Dayforce is known for its real-time data processing and unified platform, making it a popular choice among enterprises.

The payroll module in Ceridian Dayforce automates the entire payroll process, including salary calculations, deductions, and tax filings. It ensures compliance with local, state, and federal regulations, reducing the risk of errors and penalties. Ceridian Dayforce also offers direct deposit and pay card options, making it convenient for employees to receive their wages. The platform's advanced reporting and analytics capabilities provide valuable insights into payroll expenses and trends.

Ceridian Dayforce goes beyond payroll by providing comprehensive HR management features. These include talent acquisition, performance management, learning and development, and succession planning. The platform's time and attendance module simplifies tracking employee hours and managing leave requests. With its integrated approach to HR and payroll management, Ceridian Dayforce is an ideal solution for enterprises looking to streamline their operations and enhance employee engagement. Rate and review Dayforce yourself.

Pricing

• Custom pricing; starts around $20/employee/month. Check website for price changes.

Ideal for

• Large teams

Get started with Dayforce

10. Namely

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Namely is a cloud-based human resources software designed for mid-sized businesses. It offers a range of features to manage HR tasks, including payroll, benefits, time tracking, and employee data management. Namely is known for its user-friendly interface and customizable workflows, making it a popular choice for companies seeking a flexible HCM solution.

The payroll module in Namely automates payroll processing, including tax calculations, deductions, and compliance with federal, state, and local regulations. It offers direct deposit and check printing options, ensuring employees receive their pay accurately and on time. Namely also provides detailed payroll reports and analytics, enabling businesses to track payroll expenses and make informed financial decisions.

In addition to payroll, Namely offers comprehensive HR management tools. These include employee self-service portals, performance management, recruitment, and onboarding features. The platform's time-tracking module simplifies tracking employee hours and managing leave requests. With its extensive features and seamless integration, Namely helps businesses streamline their HR and payroll processes, improving overall efficiency and employee satisfaction. Rate and review Namely yourself.

Pricing

• Custom pricing. Check website for price changes.

Ideal for

• Small teams, Large teams

Get started with Namely

What is Enterprise Payroll Software?

Enterprise payroll software helps large organizations manage complex salary processing tasks and ensure regulatory compliance. They automate important financial operations and integrate with other systems within a business.

Defining Enterprise Payroll

Enterprise payroll software refers to specific payroll platforms designed for large companies. These systems handle extensive employee databases and complex salary computations. They also manage tasks such as tax withholding, benefits administration, and record-keeping. With the rise of digital solutions, maintaining updated software is a necessity for security and improved functionality.

Roles in Payroll Management

Payroll management involves a range of duties. Professionals must confirm accurate salary distribution, tax filing, and compliance with labor laws.

Roles are extensive, from data entry clerks inputting timesheet information to payroll managers ensuring the entire process runs smoothly. To support these roles, the software provides automation of repetitive tasks and analytics for strategic decision-making.

Key Features of Leading Payroll Software

Leading payroll software provides a variety of tools and functionalities designed to ensure accurate and efficient payroll management.

Automated Calculations

Automated payroll calculations offer a significant time-saving benefit by reducing the manual effort required to compute employee earnings, deductions, and benefits.

Payroll software typically allows for setting up recurring payment structures and offers the ability to execute one-off adjustments when needed. This not only increases accuracy but also allows payroll staff to focus on more complex tasks.

Tax Compliance Tools

To maintain compliance with local, state, and federal tax regulations, tax compliance tools are integrated into payroll systems. These tools automatically update to ensure compliance with the latest tax laws, calculate necessary withholdings, and generate end-of-year tax forms for employees. They also help businesses prepare for audits by maintaining detailed records of all payroll-related transactions.

Integration Capabilities

Integration capabilities with other business systems, such as human resources management and customer relationship management (CRM) systems, are an important feature of modern payroll software. Seamless integration means that changes in one system, like new hires or terminations in the HR module, are reflected in the payroll system without the need for duplicate data entry.

Payment Options

Finally, the availability of diverse payment options caters to the needs of a modern workforce. Employees may choose direct deposit, paper checks, or even prepaid debit cards. The payroll system should accommodate these preferences, ensuring timely and convenient access to their earnings.

Assessing Payroll Software Security

A business needs to consider what payroll system works best to adhere to its security standards.

Data Encryption Standards

Enterprises should confirm that payroll software adheres to high data encryption standards to protect sensitive financial data. The software must encrypt data both at rest and in transit, typically using protocols like AES (Advanced Encryption Standard) with at least 256-bit keys.

Access Control Mechanisms

Access Control Mechanisms are critical for maintaining the security of payroll systems. Software should have a robust system that includes multi-factor authentication, role-based access controls, and unique login credentials to prevent unauthorized access.

Regular Security Updates

Payroll applications must receive regular security updates to address any vulnerabilities swiftly. These updates help safeguard against new threats and ensure the software complies with the latest security standards and regulations.

Implementation and Adoption

Implementing and adopting new enterprise payroll software can impact an organization significantly. It involves choosing the right deployment model, ensuring there is adequate training and support for the staff, and managing the change process effectively.

Deployment Models

Organizations can choose between various deployment models for their payroll software. The traditional on-premises model allows for full control over the infrastructure but requires a significant upfront investment in hardware and IT staff.

Alternatively, cloud-based solutions offer flexibility and scalability, often with a subscription-based pricing model. Some businesses may opt for a hybrid approach, combining aspects of both on-premises and cloud services, to satisfy unique business requirements.

Training and Support

Successful adoption of payroll software relies on good training programs for the users. Organizations must provide detailed training to ensure that employees are comfortable with the new system.

This might include online tutorials, in-person workshops, or a combination of both. Ongoing support is just as important, ensuring users have access to assistance when they encounter issues. The right software should offer reliable and accessible customer service.

Benefits of Advanced Analytics and Reporting

Advanced analytics and reporting significantly enhance the understanding and management of workforce expenses.

Real-Time Data Analysis

Real-time data analysis allows companies to observe and react to payroll trends immediately. This enables a quick response to any discrepancies or unexpected changes, ensuring payroll accuracy. The continuous monitoring can lead to a reduction in errors and more efficient payroll management.

Reporting Tools

Comprehensive reporting tools within payroll systems provide businesses with detailed overviews of their payroll expenditures. They enable the creation of in-depth reports that can be tailored to the specific needs of the business, ensuring that no detail is overlooked.

Decision-Making Insights

The insights from advanced analytics equip leaders with information to make informed decisions. Analyzing the data can reveal patterns and areas for cost savings, driving strategic business decisions that can lead to financial improvements and operational efficiency.

Customization and Flexibility

Enterprise payroll software offers various options for businesses to tailor their payroll processes. By adjusting features, expanding capabilities, and ensuring that user interfaces meet the specific needs of their teams, companies can significantly enhance their payroll operations.

Module Customization

Enterprises often require specific functionalities from their payroll software. Module customization allows companies to select and modify features to fit their unique payroll needs.

For instance, a business can choose to incorporate additional tax calculation tools or payment distribution methods. Some software provides drag-and-drop editors and custom report builders to further personalize this aspect of the system.

Scalability for Growth

As enterprises expand, their software must keep pace. Scalability for Growth involves the system's ability to handle increasing amounts of work, users, or transactions efficiently. Payroll software can adapt to changes in company size or workload, whether that means adding new employees to the system or expanding into new markets with different regulatory requirements.

User Experience Customization

The user interface is an important part of any enterprise software. User Experience Customization refers to the ability of payroll software to provide a personalized experience for each user.

This could mean configurable dashboards, role-based access, or personalized settings. A good software design allows each employee to interact with the system productively, thus improving efficiency and satisfaction.

System Integration and Data Management

Enterprise payroll software has advanced nowadays to allow for smoother operations and improved data handling. Integration with existing systems and efficient data management is a focus, ensuring that companies have a more streamlined approach to payroll processing.

ERP and HRIS Integration

Integrating enterprise payroll software with an Enterprise Resource Planning (ERP) system or a Human Resources Information System (HRIS) can optimize business workflows. This kind of integration allows for real-time data sharing across various departments, from HR to accounting, leading to improved accuracy and reduced chances of error.

For instance, an integrated system can automatically update payroll data when employee hours or salaries change, demonstrating how Master Data Management is applied in managing payroll effectively.

Centralized Data Repository

A centralized data repository simplifies the process of managing and accessing payroll-related information. All relevant data, including employee details, pay records, and tax information, is stored in a single location. This centralization allows for efficient data retrieval and helps in maintaining consistency and accuracy, while also supporting effective data management strategies.

Data Import and Export

The best payroll software systems provide robust capabilities to transfer data to and from the system. They offer tools for the import and export of data, which facilitates seamless exchange with external platforms and systems.

This feature is important for maintaining data integrity and ensuring payroll information aligns with other business operations. Additionally, the ability to handle data through well-defined processes is integral to operational efficiency in customer relations as seen in operational CRM systems.

Employee Self-Service Portals

Employee self-service portals allow workers to manage their personal records and payroll data. This capability streamlines operations for both employees and human resources teams.

Portal Features

The right software provides a range of tools within these portals. They typically include access to payslips, tax forms, and the ability to report hours worked. Features may also extend to requesting time off or viewing current benefits.

Employee Autonomy

Such portals empower employees by placing payroll functions in their hands. This independence reduces the workload of HR departments. Employees appreciate quick and direct access to their payroll information, leading to increased job satisfaction.

Updating Personal Information

The ease of updating personal data is a highlight of these systems. Employees can change their address, banking details, or emergency contacts. Timely updates ensure accuracy in payroll processing and personal record keeping.

Global Payroll Considerations

When managing payroll on a global scale, there are specific functionalities that allow for efficient processing. These include handling multiple currencies, providing multilingual access, and adhering to varied legal requirements.

Multi-Currency Support

Organizations operating internationally must support various currencies in their payroll systems. This feature allows for accurate and timely payments to employees across different countries. For example, Deel offers a solution that simplifies these currency transactions, ensuring that employees always receive the correct amount in their local currency.

Multilingual Interfaces

A versatile payroll system features interfaces in different languages, catering to the diverse linguistic needs of global employees. Oyster HR is recognized for its user-friendly platform that supports teams with employees and contractors worldwide, providing multilingual options to improve usability for non-English speakers.

Compliance With Local Laws

Each country has distinct tax laws and employment regulations; thus, enterprise payroll software must accommodate these variations. Programs like TriNet facilitate adherence to local compliance requirements, which include updates on ever-changing laws to ensure that companies avoid legal and financial penalties.

Cost Factors and ROI Analysis

When examining the total cost of ownership (TCO), businesses should consider both direct and indirect costs. Direct costs include the initial purchase price, license fees, and implementation costs.

Indirect costs might involve training, support, and upgrades. It’s also necessary to factor in the costs associated with potential downtime or losses in productivity during the transition period to the new system.

Return on Investment Models

The return on investment (ROI) for payroll software is measured by comparing the costs saved against the TCO. Cost savings might come from improved efficiency, reduced errors, savings on paper and postage, or decreased labor costs for payroll processing.

There are different ROI models organizations can use that takes into account varying time frames and benefits, such as the payback period, net present value (NPV), and internal rate of return (IRR). Each model offers insights into the long-term financial benefits of payroll software.

Selecting the Right Payroll Software

When looking at payroll software options, businesses should directly compare features side by side. To simplify this process, creating a comparison table can be beneficial. Here's an example:

Software Trials and Demos

Trials and demos give hands-on experience with the payroll software's interface and functionality. Companies should take advantage of these offerings to evaluate the ease of use and feature set in a real-world setting. It's a chance to see if the software can handle the unique payroll workflows the business requires.

Customer Reviews and Feedback

Reading through customer testimonials and feedback provides insights into the real-life application of the software. This may reveal strengths and weaknesses that aren't as obvious in the vendor's own descriptions. Consistent praise or concerns in areas such as customer support, reliability, and usability can significantly influence the final decision.

Final Thoughts

Features like continuous payroll calculation, employee-managed data, and AI-powered workforce management stand out as notable benefits. Some platforms offer customization, while others are appreciated for their integration capabilities and support for multinational companies.

The market offers solutions that cater to various needs, from handling complex payroll functions to combining HR and IT. Enterprises should choose software that aligns with their size, structure, and specific operational requirements. It's also important to consider user-friendliness and available support to ensure a smooth experience.

To remain compliant and efficient, large businesses must make informed decisions about their payroll systems. As the software landscape evolves, staying updated on the latest offerings can lead to improved processes and satisfied employees. The right payroll solution eases the burden of financial tasks and contributes to the overall health of an organization.

Frequently Asked Questions

Let’s cover the most common questions and answers regarding enterprise payroll software.

Which payroll software features are important for large enterprises?

For large enterprises, functionality like automated tax compliance, customizable reporting, and integration with existing HR systems come to the forefront. Businesses benefit from payroll automation to streamline processes and save time.

How do top payroll systems for small businesses compare to enterprise-scale solutions?

Payroll systems designed for small businesses often prioritize ease of use and affordability, while enterprise-scale solutions offer more extensive customization and integration options. They also support larger employee bases and complex global payroll requirements.

What trends are shaping the future of payroll software?

Current trends in payroll software emphasize artificial intelligence for workforce management and enhanced user experience. For example, UKG Ready incorporates AI-powered tools to manage the workforce efficiently.

Who are the top providers of payroll services in the United States this year?

Top providers in the payroll services arena in the United States include companies like ADP and Paychex, both of which offer comprehensive solutions that cater to varied business needs.

Which payroll platforms offer the best value for cost-sensitive businesses?

For businesses conscious of their budget, Gusto stands out as it provides a balance between cost and functionality, particularly for contractor payroll. It offers a clear pricing model while maintaining a good range of features.