9 best payroll software platforms [2023 guide]

SaaS Tools

Discover the best payroll software platforms in 2023, including Gusto, ADP, Paychex, and more. Compare features, integrations, and scalability to find the perfect solution for your business.

Vendr | Payroll software recommendations
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Vendr Team
Published on
April 24, 2023
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Making sure that you choose the right payroll software for your organization can be a daunting task. It has to check all the boxes for your organization’s needs, stay within budget, and work well with your other systems.

To help you navigate the crowded landscape, we’ve put together a list of the 9 best payroll software platforms for businesses big and small in 2023.

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The top payroll software platforms

Each of these platforms has unique advantages, and choosing the right one depends on your unique business needs.

Gusto

One of the best payroll software platforms that companies should consider in 2023 is Gusto. Gusto is a user-friendly, cloud-based payroll platform designed for small to medium-sized businesses. It offers a comprehensive suite of payroll, benefits, and human resources management features that automate and streamline payroll processing, tax filing, and benefits administration.

With Gusto, employers can easily manage employee onboarding, time tracking, and time-off requests, ensuring accurate and timely payroll processing. Gusto also offers excellent customer support and a range of integrations with popular accounting, time tracking, and HR software, making it a versatile choice for businesses looking for an all-in-one payroll solution.

ADP

Another top contender in the best bookkeeping software category is ADP. ADP is a well-established provider of payroll and HR solutions for businesses of all sizes. With a robust suite of features, including payroll processing, tax filing, and HR management, ADP is an excellent choice for companies seeking a comprehensive payroll solution. The platform's scalability makes it suitable for businesses experiencing rapid growth, as it can easily accommodate an expanding workforce. Moreover, ADP offers industry-specific solutions, ensuring that companies operating in specialized sectors can meet their unique payroll and compliance requirements.

Paychex

Paychex is another leading payroll software platform that procurement managers should consider. Paychex is a cloud-based payroll and HR solution designed for small to medium-sized businesses. It offers a range of features, including time and attendance management, benefits administration, and employee self-service tools. One of the standout features of Paychex is its dedicated payroll specialist support, providing personalized assistance to help businesses navigate the complexities of payroll management. Additionally, Paychex offers a variety of integrations with popular accounting, time tracking, and HR software, making it a flexible and versatile choice for businesses with diverse software ecosystems.

Quickbooks Payroll

QuickBooks Payroll, an offering from the popular accounting software provider Intuit, is another excellent bookkeeping software platform. Designed to integrate seamlessly with QuickBooks Online, QuickBooks Payroll offers a comprehensive suite of payroll and HR features, including payroll processing, tax filing, time tracking, and benefits administration. Its deep integration with QuickBooks Online ensures that payroll and financial data are always in sync, streamlining the overall accounting process. QuickBooks Payroll also offers a mobile app, allowing employers and employees to manage payroll tasks on the go, enhancing convenience and accessibility.

Interested in learning more about Quickbooks and how it compares to other top solutions? See our guide on Netsuite vs. Quickbooks.

BambooHR

For businesses seeking a global payroll solution, BambooHR is a strong contender. BambooHR is a cloud-based platform designed to cater to the needs of businesses with international operations. It offers a wide range of features, including global payroll processing, tax filing, time and attendance management, benefits administration, and employee self-service tools. With support for multiple currencies, languages, and country-specific regulations, BambooHR enables businesses to manage their global workforce with ease and compliance. The platform also offers extensive reporting capabilities, allowing employers to gain insights into their workforce and make data-driven decisions.

OnPay

Another powerful payroll software platform that procurement managers should consider is OnPay. One of OnPay's key strengths is its simplicity and ease of use, making it an ideal choice for businesses with limited experience in payroll management. Furthermore, OnPay offers excellent customer support and a variety of integrations with popular accounting, time tracking, and HR software, ensuring a seamless experience for businesses looking to streamline their payroll processes.

Workday Payroll

For procurement managers looking for a payroll software platform with advanced automation capabilities, Workday Payroll is an excellent option. Workday offers a suite of workforce management software solutions including a separate payroll product, Workday Payroll, whih stands out for its advanced automation and machine learning capabilities, which can help businesses streamline their payroll processes and reduce the risk of errors. Additionally, Workday Payroll offers a range of integrations with other Workday products and third-party software, making it a highly customizable solution for businesses with diverse needs.

Square Payroll

Square Payroll is another option worth exploring for businesses seeking an integrated payroll solution, especially those already using Square's suite of products. Square Payroll offers a range of features, including payroll processing, tax filing, benefits administration, and employee self-service tools. The platform seamlessly integrates with Square's POS, time tracking, and employee management tools, making it a convenient choice for businesses already invested in the Square ecosystem. And, it offers contract worker payment options, making it a versatile solution for businesses with a mix of full-time, part-time, and contract employees.

Paycor

For businesses in need of a highly customizable and scalable payroll software solution, Paycor is an excellent option. Paycor's platform can be tailored to fit the unique needs of each organization, with customizable reporting capabilities, workflows, and integrations. Paycor also provides a range of add-on modules, such as talent management and learning management solutions, enabling businesses to expand their HR capabilities as they grow.

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How to select the right payroll software platform for your business

When evaluating these payroll software solutions, it's essential to consider factors such as the size of your organization, your payroll processing needs, your budget, and any additional HR or accounting tools that may be required.

In addition to the features provided by each payroll platform, it's crucial to evaluate the quality of customer support and the availability of resources such as training materials and online help centers. A robust support system can make a significant difference in ensuring a smooth payroll process and maintaining compliance with tax regulations and labor laws.

Integration

Integration capabilities with other systems, such as accounting software, time tracking tools, and HR management solutions, are essential factors to consider. Seamless integration between payroll and other business systems can streamline processes, reduce manual data entry, and minimize the risk of errors.

Security

Security is another critical aspect to consider when choosing a payroll software platform. Since payroll systems handle sensitive employee and financial data, it's vital to ensure that the chosen platform has robust security measures in place, such as data encryption, secure data storage, and regular security audits.

Scalability

Finally, it's important to consider the scalability of the payroll software solution. As your business grows, your payroll needs may evolve, requiring additional features or the ability to handle a larger workforce. Selecting a platform that can grow with your business will save time and resources in the long run and ensure a consistent payroll experience for your employees.

You can’t go wrong with these payroll software platforms

Finding the best payroll software for your organization is a multifaceted process that requires a thorough understanding of your business needs, budget, and long-term goals. By carefully considering the features, support, integration capabilities, security, and scalability of each platform, procurement managers can make an informed decision and select a payroll solution that sets their business up for success.

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Vendr Team
Vendr Team
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Vendr's team of SaaS and negotiation experts provide their curated insights into the latest trends in software, tool capabilities, and modern procurement strategies.

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