RazorpayX Payroll Review 2024: Does it Beat Other Payroll Software?
May 24th 2024
Processing payroll as a startup and SME founder can be tricky. While you can manage it at a small scale within spreadsheets, many complications kick in as the team grows.
These include staying compliant with changing payroll regulations, personalised salary components that complicate the salary calculation, delays in payroll processing, errors, and frustrated employees.
To automate your payroll processing system end-to-end, you need payroll software like RazorpayX Payroll. It has built-in compliance and directly deposits salaries into bank accounts.
In this RazorpayX Payroll review we have done some digging, and analysed user reviews across multiple review portals to help you make a final decision.
Is RazorpayX Payroll worth investing in? Especially for startups? Let’s find out.
TL;DR
RazorpayX Payroll is a user-friendly, automated payroll management tool that streamlining payroll workflows from calculation to execution.
RazorpayX Payroll has two different payroll solutions - SMEs & Startups and Enterprises.
RazorpayX Payroll is easy to use and perfect for end-to-end payroll management. However, customers complain about its poor customer support. Additionally, the Prime Plan aimed at startups is expensive and lacks access to essential features like approval workflows, third-party tool integrations and APIs, and robust Leaves and Attendance workflows.
We have introduced five RazorpayX Payroll alternatives: Craze, Keka, GreytHR, Zoho Payroll and ZingHR.
What is RazorpayX Payroll?
RazorpayX Payroll operates in two different modes:
Startups and SMEs: Helps startups to process accurate, timely payroll by integrating with their current tech stack
Enterprises: Payroll processing for enterprises and streamlines the entire process for full-time employees and contractors and takes care of TDS filling
Comprehensive Review of RazorpayX Payroll
Let us now evaluate both Startup and Enterprise payroll solutions from RazorpayX Payroll to identify if the features stand up to the target audiences’ expectations:
RazorpayX Payroll Startups & SMEs
RazorpayX Payroll Startup & SME solution manages payroll end-to-end, calculating salaries and directly transferring them to the employees’ bank accounts. From the same dashboard, you can pay employees, contractors, and interns.
RazorpayX Payroll Startup solution executes automated tax filing, provides access to TDS, and PF reports and provides employees access to all challans on a self-served dashboard.
A detailed HR software where you can manage HR operations like basic leave and attendance management.
Integrates with the startup-friendly tech stack, including flexible employee benefits, insurance, attendance and similar tools.
RazorpayX Payroll Enterprises
Streamlines enterprise payroll with direct-debit technology that allows you to transfer accurate, timely salaries to employees’ bank accounts. RazorpayX Payroll Enterprise solution also supports off-cycle payouts and supports instant settlement of reimbursements.
Provides enterprises with a centralised dashboard with payroll insights. With role-based access and advanced data visualisation, this dashboard becomes your organisation’s reliable repository to access employee data instantly.
For each enterprise account, a dedicated customer success manager is appointed to respond to critical customer queries.
Automated tax filing and compliant with India’s multi-state regulations and compliances, without any additional charges.
Features and Availability
Our Take on RazorpayX Payroll’s Pricing: Does it Fit a Startup’s Budget?
Below are the pricing plans available for startups, SMEs and enterprises in RazorpayX Payroll software:
Prime
The Prime plan costs ₹2999 per month and supports up to 20 employees. To accommodate over 20 employees, you have to opt for the Elite plan, which costs double the Prime plan. The Prime plan includes regular features like payroll calculation, direct payroll transfer, salary adjustments, compliance calculations, and tax filings.
However, this plan has limited access to high-level features like advanced payroll, expense management, support, and integrations. For example, no APIs and webhooks are available, and additional charges are applicable for third-party integrations. You also don’t get access to loan management, approval workflows, or custom rules on expenses. Customisable Roles and Permissions are not available in this plan.
Elite
The Elite plan costs ₹5999 per month and supports up to 50 employees. Additional employees are charged at ₹100 per employee per month. You cannot add employees over 100, so you must opt for the Enterprise plan. Apart from the basic payroll features, this plan provides access to advanced features like customisable roles and permission management, resettlement, approval workflows, loan management, and dedicated chat and email support.
However, you will have to pay additional charges to integrate third-party tools. Features like setting customer rules for expense management are also unavailable in this plan.
Enterprise
RazorpayX Payroll’s Enterprise plan is for organisations with 100+ employees and this plan follows custom pricing. While it offers both basic and advanced features, some features, such as a dedicated implementation manager for your account, integrating with third-party HRMS tools, background verification etc., are chargeable additionally.
Is RazorpayX Payroll pricing apt for growing businesses?
After a closer look at RazorpayX Payroll’s pricing, here’s our take on its feasibility, especially for startups and SMEs:
RazorpayX Payroll’s Prime plan is aimed at startups. It accommodates a maximum of 20 employees but the issue is that it costs startups a whopping ₹2999 per month with feature lock-ins.
Therefore, if your startup has a 10-employee team, spending ₹2999 per month may not be worth it if you don’t get access to critical features like approval workflows, role-based access, loan management, and integrations. To access most of these features, you must go for the Elite plan, which stands at ₹5999 and accommodates up to 100 employees.
A fresher perspective is looking for payroll software with a per-employee-per-month pricing model. That means you have access to all advanced features irrespective of the number of employees in your team. If you have five employees, pay for only five; if you have 50 employees, pay for 50.
Wondering where to find such software? We recommend Craze for startups and small businesses. Craze provides you access to all advanced features without any lock-ins, no setup fees, and no minimum commitments and charges on a per-employee basis.
Here are the available Craze pricing plans:
Core: ₹40 per person per month. This plan includes all advanced HR features like employee details, reporting structure, roles and permissions, organised document storage and workflows, employee onboarding, and offboard capabilities.
Payroll: ₹60 per person per month. It includes all advanced payroll features like one-click salary disbursements, automated tax reports and reimbursements, contractor payments, super fast support, and auto-syncs with leave and attendance.
Leaves and Time & Attendance: ₹40/month/person for each product with advanced leaves, time and attendance management system like tracking and managing leaves and attendance, timesheets and auto-syncs with payroll in real-time.
The best part? No feature gatekeeping, no minimum user commitments and pay what you use, with super fast support.
User Feedback: Are RazorpayX Payroll Users Happy with this Software?
Let’s examine different review platforms to see what RazorpayX Payroll users say about this tool. We have checked reviews and social media platforms like Software Suggest, Slashdot, and X.
Benefits of RazorpayX Payroll
User-friendly interfaces for both admins and employees.
Impressive payment and compliance automation.
Salary deductions are taken care of by the tool.
Reviews collected from Source
Disadvantages of RazorpayX Payroll
Poor after-sales support, poor responsiveness, and customer support team is not available on-call.
No comment box is available to approve or decline a reimbursement or contractor payment.
Potential customers highlighting customer service issues for initial sales call.
Overall verdict of RazorpayX Payroll
Feature: Startup & SME payroll software
Pros: Simple UI for employees and admins.
Cons: Poor customer support. Lack of configurations in the Leaves and Attendance products.
Feature: Enterprise payroll software
Pros: Automated, error-free payroll and easy integration with attendance tool.
Cons: No comments box in approval workflows.
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Final Verdict based on RazorpayX Payroll Reviews
After conducting a detailed analysis of RazorpayX Payroll and reading through user feedback, here’s our final verdict on the tool and its effectiveness for growing businesses:
If you have a team of 20 or fewer employees seeking only basic payroll features, opt for RazorpayX payroll. It is a simple tool that streamlines startup payrolls by automating them end-to-end at a basic level.
However, if your budget is restricted and you want to access advanced payroll features, fast support, document management and a robust Leave management system, and Time and Attendance system, you must look for a RazorpayX Payroll alternative.
5 RazorpayX Payroll Alternatives for Startups and Small Businesses
Craze
Craze is perfect for startups and small sized business teams looking to automate their HR and payroll operations from end to end.
Some of its key features are centralised employee data and document management, built-in templates, one-click, compliant payroll with tax deductions and effortless contractor payments.
Craze supports custom salary structures for each employee. Additionally, Craze has a super-responsive support team that responds within minutes, and you get a direct resolution to your queries from their founding team.
It comes with advanced leave and attendance management system, with multiple policies and advanced settings that auto syncs with payroll in real-time.
There is no minimum commitment and feature gating.
GreytHR
GreytHR offers a free limited version, with more responsive support. It’s an ideal choice for medium and large-sized organisations.
Zoho Payroll
Zoho Payroll has a built-in arrear calculator and responsive mobile support. These features are not available in RazorpayX Payroll.
Keka
Keka has more customisation options for processing payrolls with advanced HRMS and along with a responsive support team.
ZingHR
ZingHR has a built-in talent acquisition solution and regular HR features with mobile accessibility and API support. These are either unavailable or chargeable in RazorpayX Payroll.
Conclusion
RazorpayX Payroll is a promising payroll software for startups, SMEs, and enterprises. Some of its significant features are automated payroll, automatic filing of taxes like PT and TDS, direct payroll transfer to employees’ bank accounts, and so on.
However, issues like poor customer support are common in most user reviews. Additionally, RazorpayX Payroll can be expensive for startups with 20 or fewer employees. The only suitable plan is Prime, which is expensive for startups (₹2999 per month), considering the limited features vs. price.
If you are looking for a RazorpayX Payroll alternative that charges you per employee per month and provides access to all advanced payroll features, we recommend Craze.
Is Craze right for you?
Here's the (short) sales pitch. We're biased, obviously, but we think Craze is the perfect RazorpayX replacement if:
You are looking for a people operating system covering HR, Finance and IT use cases.
You want to access all advanced features without any feature-gating and minimum commitments.
You want configurable Leaves and Attendance as per your startup requirements.
You value transparent, non-restrictive pricing.
You love fast support for issues and feature requests.
Here’s what Craze’s customers have to say👇
FAQs
What types & sizes of businesses benefit most from using RazorpayX Payroll?
RazorpayX Payroll caters to startups, SMEs, and enterprises. However, its pricing plans may not be the most cost-effective for startups with teams of 20 or fewer employees, as they offer limited features at a relatively high price point.
Is immediate support available with RazorpayX Payroll?
No, immediate support is not a strong suit for RazorpayX Payroll. Users have reported poor responsiveness and a lack of customer support, with the team not being available on call and taking a long time to resolve issues.
Does RazorpayX Payroll include features for payroll and compliance management?
Yes, RazorpayX Payroll includes features for payroll and compliance management. It automates payroll processing, direct salary transfers, and tax filings, including TDS, PF, and PT. The software also ensures compliance with India's multi-state regulations without additional charges.
Is there a mobile app available for RazorpayX Payroll?
No, a mobile app is not available. The software's lack of mobile accessibility is listed as a con.
What third-party tools can be integrated with RazorpayX Payroll?
RazorpayX Payroll integrates with various startup-friendly tools for employee benefits, insurance, and attendance. However, additional charges may apply for third-party integrations, and some plans have limited integration capabilities.
