When it comes to payroll services and other HR related tasks, many companies face the dilemma of either hiring HR people, or automating it all through an HR platform, such as Namely Payroll.
Ask any HR manager and they’ll tell you to opt for the latter. After all, automated computer software that takes care of your human resources-related processes is cheaper, faster, and more efficient.
However, with so many options to choose from, it can be difficult to determine which one is right for your business. Therefore, I've put together this complete Namely Payroll review to help you find out whether it's a good fit, or not.
Let's get to it.
About Namely Payroll Software
Namely Payroll is part of the Namely human resources software company founded in 2012. Headquartered in New York, the company is known to provide a full HR suite.
It includes things like talent management, time management, onboarding, benefits administration, and performance management services.
At this point, the company has over 500 employees, with offices in San Francisco, Atlanta, Austin, and Los Angeles. With over 1,000 clients, the company is slowly tapping new markets as they receive funding from their benefactors.
Namely Payroll Pricing
Like most of the payroll and management software in the industry, Namely Payroll doesn’t disclose their prices on their site.
You will have to call their representative for a quote. After you provide information like company size, the number of employees, and your HR requirements, they'll analyze your data.
You will then be contacted with a customized payroll system and HR plan. Namely has several HR professionals who analyze your company and find the best fit for you.
Namely Payroll Services and Features
Namely Payroll is based on the concept of reconfigurability - an HRIS and payroll software that lets users change the way the software looks and works. The software let's you add shortcuts, icons, and other things to streamline your process.
Providing ease of use and an easy alternative to HR teams, here are some noteworthy features of Namely Payroll.
Tax Filing and Compliance
Namely automatically takes care of all tax filing by calculating and depositing local, state, and federal payroll taxes.
They also send you year-end tax documents like 1099s and W-2s and summarize HR data for easy access.
Full Software Integration
Namely has an open API, which means it can easily be integrated with other software (e.g. PTO software). For example, it can transfer data from software like Zenefits, ADP, and QuickBooks.
You can transfer data from benefits platforms, performance reviews, and other data like job titles, PTO, perks, org charts, etc.
Social News Feed
Namely has a social news feed built into the software. It’s a completely unique feature that helps with onboarding new employees and builds communication.
The social news feed is essentially a central hub of company culture. Employees can share news, updates, and other stuff while others can interact with it.
It also acts as an encouragement tool to make employees use the software more.
Dedicated Mobile App
Namely Payroll has a dedicated mobile app available on both Android and iOS mobile devices. It has the same user-friendly and intuitive interface as the desktop version.
Employees can log in to check the timesheets, pay stubs, time off parameters, paydays, etc.
You can also set up an open enrollment system so employees can enroll themselves for any new activities/features like webinars.
Namely has a customizable employee self-service portal, where employees can enroll themselves and view benefits information. They can also check pay stubs, submit time-off requests, verify timesheets, and more.
Additionally, employees can upload and share company policies, updates, employee referral programs, pay schedules, and other valuable company information.
Not only that, employees don’t have to bother the admins if they want to add, update, or remove any information - they can change it themselves without requiring admin access or permission.
Namely HR Software Pros and Cons
Namely is a full HR software and payroll processing service. However, if you only opt for payroll services, you might be limited to a few features.
The following are some reasons why Namely Payroll wins over others.
- Namely Payroll provides a complete set of HR, payroll, and benefits services to SMBs in one package.
- The software has strong employee management features.
- It has built-in ACA (Affordable Care Act) reporting.
- It provides full-time tracking, configurable review questions, and rating scales.
- You can set up admin permissions and employee roles from the software.
- The software lets you make direct deposits. You can also pay your employees with checks. Checks can be printed directly, provided you have the e-signatures of employees.
As long as you’re a small or medium-sized business, Namely Payroll will always be more beneficial, while also providing you with a positive ROI.
The following are some reasons why you may be better off utilizing other software.
- While Namely Payroll works for small businesses, it may be very expensive for larger businesses.
- Compensation management is quite limited since performance reviews and tracking salary changes options are restricted.
- The customer support team has over 250 members, yet people complain about the lack of proper support.
- Namely Payroll isn’t transparent with its pricing and hidden fees. You need to talk to a representative to find out.
The software also lacks auto pro-ration and auto retro pay calculation options. With these, admins have to manually input information during pay periods. They also have to manually calculate and enter any difference in earnings due to an unplanned raise.
Is Namely Payroll Worth It?
When you Google 'payroll solutions,' Namely Payroll might not be the first result - but it’s definitely one of the best.
Namely is known for the sheer number of customizability options it provides, along with the ease of use of its software. It’s a convenient and relevant option for SMBs and for large companies.
If you’re a small company, Namely Payroll will be a cheap option. If you’re a large company, it will be expensive, but will provide you with an all-in-one HR management tool.
However, before making a decision, do look at the alternatives. You never know, some other company may be a better fit for your business.