5 compensation management platforms to watch
Payroll management tools aim to help human resources professionals with a number of compensation tasks, including calculating wages, managing budgets, paying employees and filing taxes. Employee Benefit News editors have found some of the market’s payroll-software providers and present them in alphabetical order.
Ascentis Payroll is a web-based payroll system that allows employers to process payroll in real-time, providing greater accuracy, flexibility and control. The instant payroll processing lets managers evaluate payroll before creating checks rather than having to correct an error after processing since there’s no need to transmit data to a processing center, no batch uploading and no transmission windows.
Epay automates everything from payroll deductions to gross-to-net payroll calculations. Further, new hires are automatically set up for payroll using data collected during the employee onboarding process. Employees can access a self-service portal across all devices to view and manage payroll information in both English and Spanish.
Empxtrack Payroll management software takes into account all taxation rules of the country in which it is implemented. It captures employee investment declaration for tax benefits and deducts tax according to government laws. It also supports multiple salary structures for different salary grades, and provides flexibility to modify the salary head amounts for employees in same grade.
A cloud-based payroll that is accessible via desktop, tablet and mobile, Inova Payroll offers employers multiple pay options for employees, including paper checks, direct deposit with online access to pay detail and debit paycards with ATM access. In addition, Inova Payroll’s tax engine monitors changes from the national to local levels, to ensure employers remain compliant on deductions.
Netchex gives employers flexible pay options including direct deposits, live checks and Mastercard debit cards. The software also provides quarterly online tax statements and W-2 previews, along with electronic IRS filing options.