8 Factors that Influence Payroll and Accounting Software Buyers

A new research found by experts at the London School of Economics and the University of Massachusetts that very unattractive employees earn more than their better-looking peers. The data showed that “very unattractive” people are less open to new experiences and much likely to commit to their current job, allowing them to climb the professional ladder more effectively than “attractive” and “open” participants. It looks like the popularity game has strayed.

The most popular payroll software for 2018 have been named but the stars and reviews attached to these names won’t guarantee a 100% effectiveness on your business. End users have specific needs and that’s what you need to find out in order to attract or influence payroll and accounting software buyers.

Here are 8 factors that buyers are looking for:

#1 Online vs. Desktop

Online and desktop are two types of software which buyers may compare in choosing payroll services. Make them choose the one that best fits their type of business, lifestyle, as well as personal preference.

The difference:

Online or cloud means users may access the payroll anywhere and anytime via the internet from more than one device. Payroll information is protected; however, requires a continual subscription fee.

While for desktop software, the program must be downloaded onto a computer and can be run without internet access. Fees are most likely at flat rates but may require future upgrades with fees and poses data loss when crashed.

#2 Cost

Cost is the utmost priority, especially for small businesses. Your customers may also compare costs so explain what features comprise the total cost of your payroll services pricing model. Make them understand that the more features contained the higher the pricing would be.

#3 Features

Some buyers would look for more features than what their business requires, but it’d be best if you could tailor them a full accounting service that performs tasks their business needs and helps to optimize the payroll process by improving accuracy and efficiency.

Payment type

The payroll system must be able to accommodate how they pay their employees. Do they pay employees via direct deposit, paychecks or payroll cards?

Pay period

Pay frequency is also a factor so know how they would want to pay employees: weekly, every two weeks or monthly.

Taxes

Your payroll system must also perform filing and depositing taxes. This will help them avoid mistakes or late payments.

Supplemental wages

Supplemental wages like bonuses, commissions or tips must also be handled by your accounting software.

Time and attendance

This is a good extra feature which could be integrated into the payroll system.

#4 Support

A strong payroll system that offers strong support can make your customers feel more comfortable running their own payroll. Take the customer’s personal preference in the type of support: online, over the phone or booth.

#5 Difficulty Level

Make sure to equip your buyer with enough knowledge to run their payroll and accounting software system.

#6 Free Trial

Offer a free trial to make your customer get the hang of it, making it easier for them to run a system which they are already familiar with.

#7 Security

Buyers would look for data security in your payroll system. It should also be bonded and insured with high-security encryption

#8 No-contract Deal

Lastly, some customers may opt for a no-contract deal – this may sound unpopular and unattractive to you but could absolutely attract or influence payroll and accounting software buyers.