Zoho Launches Zoho Payroll, a Comprehensive Solution That Simplifies Payroll Processing and Compliance for Businesses in the United States

Payroll and Compensation ManagementHR TechnologyNews

By Business Wire On Dec 12, 2024

Major Updates to Zoho Books, Zoho Inventory, and Zoho Practice Further Strengthen the Finance and Operations Platform

Zoho Corporation, a global technology company, today announced the US edition of Zoho Payroll, an end-to-end solution that streamlines payroll management, ensures compliance, automates tax payments and filing, and eliminates operational silos between departments handling employee data, financial records, and payment processes.

The launch is accompanied by advancements to Zoho’s existing suite of finance solutions: Zoho Books, Zoho Inventory, and Zoho Practice. Together with Payroll, these apps form the core of Zoho’s finance and operations platform—offering an interconnected, one-stop solution for managing an organization’s financial and operational processes.

“Few existing finance solutions offer seamless interoperability, requiring customers to install multiple pieces of software and contend with organizational silos,” says Raju Vegesna, Chief Evangelist at Zoho. “Zoho Payroll addresses the struggles our customers were facing in finding a system to keep up with endless revisions to tax codes, maintain accuracy and compliance across departments, and generate financial reports. The growth of our array of finance apps is driven by our customers, and that will never change.”

Zoho’s Payroll addresses a need in the market for a full-featured and holistic product that seamlessly connects with other relevant systems. According to Deloitte’s Global Payroll Benchmarking Survey, while 73% of organizations outsource aspects of their payroll process, they still identify key areas for improvement such as compliance, self-service, and technology integration. Meanwhile, smaller businesses have limited options and often rely on manually intensive and error-prone solutions.

Zoho Payroll provides a comprehensive solution designed to automate payroll processing, offer contextually well-connected systems, and fulfill compliance obligations. The key capabilities of Zoho Payroll include:

Simplified federal, state, and local tax compliance across all 50 states with automated calculating, paying, and filing of taxes
Efficient handling of employee benefits, including healthcare, retirement savings, paid time off (PTO), and managing contributions to an employee’s 401(k), 403(b), health savings accounts (HSA), and flexible spending accounts (FSA), as configured
Mobile-first employee self-service portal, available on iOS and Android devices, enables employees to view payslips, benefits contributions, and salary breakdowns, modify tax withholding preferences, and communicate with HR
Integration with Zoho People, Zoho Expense, and Zoho Books, enabling automatic syncing of employee data, initiation of expense reimbursements, and posting of payroll journal entries

Major Enhancements to Zoho’s Finance and Operations Platform

Many businesses rely on manual processes for performing critical financial tasks, resulting in delays, errors, and inefficiencies that drive up costs and hinder growth. Today’s updates to Zoho’s finance and operations platform aim to streamline these processes for greater efficiency for both businesses and accountants.

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