Product Description

VentureHow’s customizable Excel VBA template for Payroll software evaluation enables you to a) customize and define categories, selection criteria and evaluation parameters, including weights b) pick any set of payroll software/services providers to evaluate c) add one or more evaluators and c) score each platform on the same set of criteria so as to shortlist and select the right solution.

For a small business, reaching the milestone of having a payroll is indeed a big step. And given how complicated managing payroll can be, it is imperative to find a cost effective, easy to use, feature rich Payroll software/services provider.

Are you in the market to evaluate Small Business Payroll Software/Services providers? Now choosing between a plethora of providers in a crowded market replete with information clutter is not an easy task. That’s where VentureHow Payroll software/services provider evaluation matrix comes in.

So what is it and what does it do?

VentureHow Payroll software/services provider evaluation matrix is an Excel VBA Spreadsheet. The key features are:

Customizable – every field and every word

Ability to define Categories, subcategories and criteria

Assign evaluation parameters and their numerical value

Have multiple evaluators (or just one if you are the boss man)

Determine category weights and subcategory weights (which of course are changeable)

Enter up to 10 competing platforms for a multi-dimensional analysis

Slice the data and analyze from multiple perspectives

The payroll software evaluation matrix comes with default categories and criteria. Of course, each one of these can be modified or you may add additional criteria.

Sneak Peek: What’s inside the Tool?

  • Calculate Employee Pay
  • Process Payroll by State
  • Process different wage types – Hourly, Salaried FTEs, Independent Contractors and Commission-based
  • Deductions and Withholdings management
  • Calculate and submit Payroll taxes
  • Calculate and submit Federal, State and Local Taxes
  • Process Bonus Pay
  • Process Incentive Pay
  • Process Off-Cycle Pay
  • Issue W2 forms
  • Issue 1099 forms
  • Employee Logon and Access
  • Payroll run frequency
  • Maintain Payroll History
  • EFT/ACH to Employee Accounts
  • Issue Pay on pre-paid debit cards
  • Check printing and delivery options
  • Payroll tracking, audit and traceability
  • Submit Statutory Payroll Forms

  • Integrations with Accounting Software
  • Manage and Process Workers Compensation
  • Employee Time Tracking
  • Mobile Access to Employees
  • Ease of Use
  • Household Employee Payroll
  • Guarantees and SLAs
  • Control over Data
  • Data Migration and Support Services

  • Provider Business Viability
  • Provider Reputation
  • Customer Service and Support Options
  • Scalability
  • Reliability
  • Free Trial

  • Initial Cost
  • Fixed Cost
  • Implementation Cost
  • Variable Charges
  • Recurring Fee/charges (like Annual maintenance for example)
  • Support costs
  • Infrastructure costs (if applicable)

GOT IT!

I’m convinced the Evaluation Matrix is right for me

How do I get the information about the prospective providers?

Typically, you can try these four options or a combination thereof to gather information about the providers:

 

  • Sign up for free trials and keep track of your experience and enter the information
  • Find a trusted review site and pick some of the information they provide
  • Ask your peers and friends about their experience
  • Of course, issue an RFP to a select group of providers (assuming your company’s payroll volume interests the providers)

 


Nuts and Bolts

Who should buy the template?

  • Prospective entrepreneurs
  • Small business owners
  • Executives of midsize firms

When to use the Template?

  • If you’ve just started a payroll for your business
  • Or if you are unhappy with your current payroll software/solution provder

How to use the template?

  • Start with the out of the box categories, criteria and scoring parameters and customize to your needs
  • Decide how many evaluators would weigh in
  • Determine which products you are going to evaluate
  • Score the competing products objectively and personally.
  • Compare, shortlist and select the right solution

Why use a Template?

  • Don’t just bank on gutfeel, do a thorough and independent analysis of payroll software/services providers
  • Save time and effort in creating the evaluation framework. Rather expend the energy in evaluating the platforms.
  • Once you buy the template, by changing the specific categories and criteria as well as the products, you can apply similar structure to your other buying decisions.

What are the Terms?

  • No returns as it is a digital product
  • Sold on as-is basis and no warranties
  • No implementation help or support