Stand alone payroll software
Payroll software automates the process of paying salaried, hourly and contingent employees. Vendors of human resources technology and specialized payroll companies often sell payroll software as a stand-alone system.
Payroll software is increasingly a central component of integrated, multifunctional human capital management (HCM) systems. Compared to paper-based systems, payroll software significantly speeds the payroll process while reducing errors and enabling managers to more easily customize paychecks for individual employees.
Some payroll software systems are also configurable by HR administrators and IT staff, enabling them to adjust accumulations, balance periods and balances and to place workers in various pay groups.