NetSuite unveils cloud-based payroll service

Payroll SaaS will integrate with NetSuite’s ERP

NetSuite has launched a payroll SaaS offering that promises users increased flexibility in managing automated processes.

The vendor's Premier Payroll Service allows for wider inclusion of complex payroll features and can also be integrated into a firm’s ERP system.

Features include a payroll interface that validates all leave, payroll and salary data; full gross-to-net calculations; support for cheque printing, cards and direct deposit and enhanced payroll workflows that handle large transaction volumes.

The offering also comes with a built-in employee self-service module and a fully integrated payroll interface that automatically enters time, salary, and payroll data with a modern user interface. It said this would eliminate the multiple batches that are often required for every pay run.

It also natively supports NetSuite cloud accounting, expense management, and commissions for end-to-end process efficiency and control.

Other capabilities include deeper editing capabilities to enable payroll managers to make adjustments to information at a line-item level without recalculating the entire payroll batch. A payroll batch run can be suspended while in progress so revisions can be made with automatic resumption from the point of change.

There are also new capabilities to filter and search by employees and other criteria improve overall control and management of payroll batch creation and execution.

Managers will be able to adjust automated deductions and contributions within a payroll batch without creating separate data sets.

“Complex payroll environments consume inordinate amounts of time and money, especially at fast-growing companies that need to focus resources on innovation and customer service,” said Joseph Fung, vice president of HCM (human capital management) products at NetSuite.

“These next-generation features in NetSuite Premier Payroll Service make it the go-to solution for businesses that want to improve payroll accuracy and cost-efficiency while natively integrating with NetSuite accounting, expense management and commissions.”

The above enhancements to the NetSuite Premier Payroll Service are expected to be available in early 2015. The service will be available to US customers at present. NetSuite did not say when a UK version will be forthcoming.