E-Payroll: Benefits, Cost-Savings & Top 10 Vendors

“Following years of research, analysis and consultations, the federal government has made the development of an “e-payroll” or digital payroll system, an automated and secure framework for sharing payroll data with the government, a priority,” according to Dialogue Magazine.

“While this was initially intended to provide a means for examining how to improve the delivery of the Employment Insurance (EI) program, the federal government now recognizes e-payroll as a means to enhance various other programs, services and the administration of legislative requirements that rely on payroll data,” the publication continues.

While the pandemic has broadened technological habits and how companies benefit from it, not all are ready to implement e-payroll if it means spending money hiring a software service and training their team to use it. But, delaying the implementation of e-payroll is not a good idea either.

E-payroll has grown steadily in recent years, and the software on the market are becoming easier to use. In addition, these systems incorporate new functions every year that facilitate the day-to-day work of our profession. As we see, the benefits of e-payroll outweigh the drawbacks, and the investment companies have to make to upgrade to payroll automation will pay back.

What are the Benefits of E-Payroll?

According to Grace Ferguson, some of the benefits of e-payroll are:

Automated time-keeping
Hourly workers are paid according to hours worked during the pay period. The automated time-keeping system allows the employer to import time clock data into payroll software.
Payment Calculation
The automated payroll system uses payroll software to compute all wages and types of payments: hourly, overtime, double-time, salaries, commissions, bonuses, pay raises, retroactive pay, etc.
Deduction Calculation
The software has the tax rates hard-coded in the system and calculates the withholding tax for each employee based on the withholding conditions data input.
Record-keeping
Payroll software generates and stores payroll and employment tax data.

Best 10 E-Payroll Software

Avanti
A cloud-based People Management solution processing payrolls and developing HR technology in Canada for over four decades.
CADJPro
A full-service solutions-based agency for business payroll, offering virtual outsourcing and implementation of new payroll services.
OuiPay Payroll Services
Provides modern Canadian businesses payroll services and technology that effectively manages seemingly complex payroll tasks.
Payreq
A cloud-based solution to electronically, securely, and inexpensively deliver any document to your employees.
Payroll Guardian International (PGi)
Automation for all aspects of your Payroll, including HR, Scheduling, Time & Attendance, Employee Portal, and 3rd party interfacing capabilities.
Payroll Solutions International (PSII)
A global professional services provider specializing in corporate and employer services in more than 100 countries worldwide.
Payworks
Provides cloud-based Payroll, Human Resources, Employee Time, and Absence Management to more than 20,000 businesses across Canada.
PDS
Provides recruiting, onboarding, human resources, benefits, payroll, and talent management solutions.
Wagepoint
A simple payroll software created for small businesses across Canada.
Workzoom
Calculate, disburse and distribute pay stubs with a three-step process for all Canadian provinces.