Investment in HR & payroll software in Bangladesh is now a familiar factor that every company uses. There are a variety of prices ranging from low to high according to functions of the software. So, HR & Payroll Software Price in Bangladesh is diverse here to meet the demand of both small and large organizations.
Lots of service provider companies are available for selling the service or product of app development for human resource and payroll. The client-companies have to assess the providers in course of price, quality and reviews online and offline so that no companies would be victim of higher price than market or low quality products or service.
What are the grounds that the prices of the softwares are fixed on?
There are some categories that HR & Payroll Software Price in Bangladesh should be followed correspondingly. When a company takes the decision to avail the facility or purchase a software then it should explore the types of pricing strategies of the service providers to pick the correct plan of module.
Frequency of Payment
Monthly subscriptions
Monthly subscriptions are used in all types of apps as we know about that. Basically companies having 10 to 5000 employees can avail the service. And this subscription also has the diversity according to the functions and the number of employees.
Monthly subscriptions are bound to be renewed if the company wants to continue with the service. If it doesn’t want to continue then it can stop the payment or monthly subscriptions. No binding is here to maintain the service, clients can stop availing the service when it wants. Monthly service can range from 3000 tk to 20000 taka
Yearly Subscriptions
As like monthly ones there are yearly subscriptions that the company can avail the service with a lump sum amount for a year undoubtedly and consciously. Employers don’t have to pay except the amount needed to support or extra service in a year.
But after finishing the first year they have to renew it to continue the next process. The benefit of yearly subscription is that they don’t have to think about renewing each month as it is somewhat bothersome to activate the software every month.
But the companies try to take it when they are fully satisfied with their service. So if the service provider is new for them, they don’t receive the yearly subscription on the first hit.
One time payment
One time payment is applicable for large institutions where hundreds of thousands to million people are working. This large group of people should be managed through a particular hefty and well functioned software. The price of this software may at the higher rate as there are huge functions that can help to manage the whole organization.
According to HR management a company can spend 30000 to 2 lac to invest in a software. This price differs according to the variety and functions as I earlier said. There are different rates for Shift Module, Attendance software, payroll software, company software, inventory & accounting software, production software, cloud server, mobile app etc.
Size of the Organization
The price of the HR and payroll software depends on the size of the organization. As size matters according to their functions then the price also depends on the number of the employees of the organization.
The lower the employees, the lesser functioned software is applicable for those organizations. And the price of these softwares relatively lower than that of large organizations.
I am going to explain the probable cost of monthly subscriptions, as this criteria is enough for a lower number of employees. If a company has less than 100 employees then costing to that type of software leads from 3000 to 5000 taka. For 100 to 1000 employees a company may take a software 10000 to 15000 taka at monthly subscription. And more than 1000 employees should be maintained through a well functioned software which may range 20000 taka to 50000 taka at price for per month. So, there are vast types of modules with diverse ranges of price.
Types of Module
Types of Modules also affect the price. Like there are lots of modules ranging from easy to complex and low to high-functioned ones.Some modules are eligible for low storage of data and easy functions. The lower the complexity, the lower the price of the module.
For example the single module like store software, leave management, attendance software, inventory management can be available at lower price like 15000 to 50000 taka. Other large softwares like production management, payroll software may spend more than 1 lakh. So expenses of softwares differ a lot from high to low range. Every sized company can avail the service as per its affordability and need.
Support Service
Support service depends on the service provider from which companies purchase or use the app at monthly subscription. Some companies provide service for some months or years according to the rules & regulations or price range.
On the other hand, companies add a service charge to the price or monthly subscription that may take up to 10 to 15% added cost. This may vary according to the service types.
Recently for the developed digital process there is the demand of direct communication. So all types of service providers take in the live chat and call centre facilities for their clients.
Payment Methods
The payments are normally in a variety of ways like bank transfer, card payment, mobile banking or pay cheque. The price of the software would be tax, vat or service charge included or excluded according to rules and regulation. Companies have to fix the payment methods in time of starting the contract especially for the monthly subscriptions where payment has to be done every month.
What are the factors that companies should think about price?
Companies should always assess whether the price goes related to its quality and types of functions.
The companies should have good reviews for the product or app in the market.
Organizations should explore the functions of different software that what they need actually because each company’s need is different. So if they don’t need high-priced software then it should be considered.
According to the need companies have to choose monthly yearly subscription or one time purchase. If the companies have lower number of employees then monthly subscription is enough.
Companies have to check the support facilities for servicing as it is one of the main factors nowadays. The continuous support should not be accommodated with higher service charge.
Employers have to cross check the price with other service providers in the market to assess the correct price.
Final Matter
No companies can trigger without the HR & Payroll softwares. Disregarding the price every small or large companies afford the softwares to reduce the cost for long term, reduce the time consuming and increase the effectiveness. So, having a module doesn’t have any alternative to increase the efficiency of a company.
The service providers of modules should monitor the activities of their client companies and accumulate different functions with those modules. They should update their modules and incorporate the functions to the modules to get fast and mobilized.
