Within the turbulent world of payroll and contracting with its frequent ups and downs, unexpected legislation changes and the occasional system crash, it's good to have a payroll solution that you can rely on.
But how do you get the tailored performance of bespoke payroll software with the realistic pricing of a tried and tested off-the-shelf solution?
To answer let's look at the pros and cons of each...
Off the Shelf Payroll Software
Pros
Tried and tested
You know it's been used successfully by other payroll providers, so you can rely on it working for you.
Reasonably priced
Off-the-shelf payroll software comes with a smaller price tag than bespoke software making it suitable for smaller businesses.
Relatively simple to set up and use
Most systems are designed to work in a variety of conditions with minimal disruption to your normal work flow.
Cons
After-sales support can be variable
Some off-the-shelf payroll solutions are great until something goes wrong. A lack of dedicated support can make these one-size-fits-all solutions difficult to maintain as your business grows.
Changing the way you work
Rather than working around you, off-the-shelf software can mean you have to work around it. You may have to adjust the way you work to make sure the software fits in with your existing in-house systems.
Your competitors are probably using it already
The chances are your competition are using the same or similar solutions giving you no competitive edge over them.
Bespoke Payroll Software
Pros
Custom-built from scratch to meet your exact requirements
Skilled developers can plan and build bespoke payroll software to match your business needs exactly. It can also be made to integrate seamlessly with your existing systems.
Scalability for growth
Bespoke software can be designed with your company's overall strategy in mind. If you plan on a massive expansion over the next few years this can be catered for.
Can give you a unique edge over your competitors
Having a unique payroll system can put you way ahead of your competition by solving common problems during the planning phase and developing more efficient ways of managing your payroll.
Cons
Premium price tag
While all of the above pros sound great they often come with a team of elite developers who are more than happy to pour themselves into your business for a significant fee.
Can take months if not years to build and implement
Being bespoke means your system is built from the ground up, this can take a significant amount of time as new features are developed, tested, modified and implemented.
After-sales support is usually good but expensive
Support packages for bespoke products usually require the attention of the same elite developers that built them, meaning an additional cost for any problems or extra training that might be needed.
Final Verdict - What is the Best Payroll Software Solution?
In essence, it comes down to your business needs, your budget and how quickly you need the solution. However as you're already on our website, reading our blog, we invite you to consider another option.
If like many businesses you need something that fits the needs of you and your contractors exactly, but won't bankrupt your business in the process, then consider our Umbrella Payroll Software.
As always if you have any queries don't hesitate to give us a call.
This article was originally posted 25/04/14
