Payroll Management Options: Can You Share the Pros and Cons of Outsourcing, Software, and In-House?

Hi friends,

Could anybody explain to me in detail what are the advantages and disadvantages of using:

1. Payroll outsourcing
2. Payroll software
3. In-house payroll

Thanks.

Hi,

It all depends on the strength of the employees in the organization and the nature of the organization.

Regards,
Mrugesh

Hi,

There are many payroll software options in the market such as PeopleSoft, Visual Pay, SAP, etc. It totally depends on the size of the company - SME or large organization. Some companies prefer in-house payroll administration. For more details, you can visit www.salary.com.

Cheers,
Gauri

Can anybody let me know from whom we outsource the payroll - any agency or contact details?

Hi,

Payroll software is available in the market. In-house payroll can be managed with the help of software or in Excel. Payroll outsourcing services are the new trend in the Indian market. Here, the service provider takes the responsibility of handling end-to-end payroll as per the client's requirements, ensuring timeliness and accuracy. If the service provider has their own software and a web module as well, it greatly relieves the client. It is a long-term solution that passes on the economies of scale to the customer.

Hope this provides you with the required information.

Thanks,
Ranjana Vaidya

Payroll Compliance Responsibility

Whenever you use software or outsource solutions for payroll functions, the principal employer is ultimately bound to all statutory compliances.