Top Cloud-Based STP Solutions
The digital transformation of the payroll industry led to increasing migration to cloud-based solutions. Single Touch Payroll (STP), in particular, utilizes such a platform due to its many advantages over traditional solutions that heavily rely on manual processes. From easier access to employees’ payment information to real-time STP reporting, running your business’ payroll doesn’t have to be complicated.
This article features the top 10 cloud-based STP payroll services and the reasons why many businesses are highly satisfied with their services and performance.
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Workful
Workful is a cloud-based employee management and payroll solution specially created for micro-businesses. Its main features include direct deposit, payroll reporting, tax compliance, and automated internal communication, among others.
Payroll admins utilizing this centralized platform monitors employee schedules and manages time-off requests. It can also store important documents to streamline onboarding such as expense policies and employee handbooks.
Planday
Another cloud-based payroll solution that improves employee scheduling is Planday. Designed for businesses of almost any size, the platform enables HR managers to track employee hours, vacation requests, and shift-swaps.
Instead of manually creating schedules week after week, businesses can copy them each time. With Planday’s location-exact clock-in function, employees can clock-in from any device at the time of their arrival at work, giving managers a comprehensive view of exact hours worked.
Paycor
An integrated cloud-based software, Paycor covers the employee lifecycle that starts from recruitment, onboarding, and time/attendance management.
Its Applicant Tracking System enables employers and payroll admins to centralize their recruiting activities such as identifying prominent candidates, schedule interview rounds and more. Businesses can also manage payroll processes, process tax deductions, and distribute benefits with this solution.
Sage Business Cloud Payroll
Sage Business Cloud Payroll boasts an extensive range of features and functionality from a simplified payroll process to an inclusive online payroll solution for start-ups and micro-businesses.
Its accounting software has an automated function of evaluating the status of your employees each time they get paid. With no training required, anyone can use this payroll solution with ease and confidence. Interestingly, payment information is always accurate and integration with accounting is automatic, saving your time and effort on what matters most – your business.
BirdDogHR Talent Management Suite
Joining the list of reliable cloud-based STP solutions is the BirdDogHR Talent Management System. This software tracks applicants and employees’ performance management for industries such as construction, manufacturing, and engineering.
It also provides integrated modules for the employee lifecycle from recruitment to onboarding and from performance management to goal setting. In doing so, it helps employers increase workforce productivity and streamline payroll processes.
Namely
Namely makes an ideal cloud-based solution for companies under STP as it helps midsize companies handle compliance and organize their payroll process. Its unique human resources information system (HRIS) features a centralized location to collect employee information that includes time off, taxes, salary and wages.
Moreover, it allows HR managers to conduct paperless onboarding and performance reviews to promote growth to the business and increase productivity among the employees.
UltiPro
A cloud-based human capital management (HCM) solution created to aid businesses run their HR and payroll, UltiPro covers an employee’s journey from recruitment to compensation management. A configurable solution, it thoroughly calculates and processes payroll.
Furthermore, this software beams with pride that it manages millions of employee records and thousands of businesses through the cloud. It only means one thing- it’s one of the best.
Ascentis
Another cloud-based human capital management (HCM) suite is Ascentis which is designed for midsize companies. It offers assistance for HR and employee benefits, time and attendance and payroll, among other functions.
Its fully-automated time and attendance solution highlights online timesheets and scheduling that allows employers accurate auditing and real-time payments.
NetSuite SuitePeople
The key features of this cloud-based human capital management solution include payroll, workflow automation, and compensation management. Designed to assist small to large businesses, NetSuite SuitePeople offers an analytics module allowing managers to calculate workplace headcount and track revenue.
Interestingly, this type of solution allows access to team members their payment information in accordance to their eligibility.
iSolved
iSolved is a unified, cloud-based pay solution that dynamically processes payroll, time and attendance and learning management of the employees.
Its mobile app called iSolved GO allows company managers to monitor vacation schedules and adjust employee compensation which the latter can access for future reference.
Conclusion
With the mentioned upsides of cloud-based STP solutions, now is the time to shift to this advanced pay system. After all, we live and work in a digital era where the safety and security of our personal and professional information matters. A lot.
