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The continued growth of web-based and web-enabled Payroll software and systems, including:
- SaaS / Cloud computing - fully online Payroll software
- Hosted or combined online / on-premise Payroll software services and systems
- ESS (Employee Self Service) within Payroll software eg to view pay and tax history, and view / amend personal data, benefit details, bank account details
- Auto enrolment for employee benefits
- Digital pay slips / pay stubs
- Web interfaces and mobile apps eg for time recording, e-expenses
- Workflow functionality integrated within Payroll software
- Improving reporting, analytics and business intelligence
- Electronic tax filing eg for payroll returns, RTI (Real Time Information reporting in the UK)
Non-web Payroll software trends - continued growth of:
- Regulatory compliance
- Integration of Payroll software and Human Resource software
- Integration with Time and Attendance (time recording and tracking of employee hours)
- Time allocations - to analyse payroll data, trends
- Globalisation with Payroll software capable of handing international payrolls
- Electronic Funds Transfer (EFT) / direct deposit into employee bank accounts (and reduction of cheque payments)
- Payroll debit cards for employees without bank accounts
- Improving payroll efficiency
Payroll market trends - continued growth of:
- Outsourcing Payroll software and services to SaaS, bureau or other outsourcing providers
- Competition in the Payroll software market
- Vendor consolidation
For an impartial guide to the ‘key criteria of good Payroll software’ visit: Payroll Software Criteria
Or, visit: Accounting software trends / CRM software trends / HR software trends / Cloud computing pros and cons / Cloud computing and security / Software vendor consolidation
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