How Much Does HR Software Cost: Guide on Pricing 2024

How Much Does HR Software Cost

What is HR Software?

HR software, also known as Human Resources software, refers to a category of software designed to streamline and automate HR processes and tasks within an organization. This software manages employee data, recruitment and onboarding, performance management, payroll software and benefits administration, time and attendance tracking, compliance and regulatory reporting, and other HR-related activities. HR software typically includes a range of features and functionalities, such as data analytics, reporting, and mobile accessibility, to help HR professionals make more informed decisions and improve overall efficiency and productivity within their organization.

This blog will explore the Importance, Types, Benefits, and, most importantly, How Much Does HR Software Cost.

How Much Does HR Software Cost?

Below is the classification of how much the HR Software costs:

1. Per Employee Cost

The cost of HR software can vary depending on the size of your company. Here’s a breakdown of the average cost of HR software based on company size:

  • Small businesses (1-50 employees)

Small businesses can expect to pay between $50 and $150 monthly for a basic cloud-based HR software package.

  • Medium-sized businesses (50-500 employees)

Medium-sized businesses can expect to pay between $200 and $700 per month for a cloud-based HR software package.

  • Large businesses (500+ employees)

Large businesses can expect to pay between $1,000 and $5,000 per month for a comprehensive cloud-based HR software package.

2. Subscription-Based Modules

The subscription-based pricing models are generally used by cloud-based HR vendors, where organizations must pay a recurring annual or monthly subscription fee. Such a fee is charged based on the employee size or the total number of users accessing the HR software system administrator. The basic subscription-based plans start from as low as INR 250/- to INR 5000/- per user per month, and the advanced plans can range between INR 8000/- to INR 82000/- per user per month.

3. One-Time Payment

It is a non-recurring payment option for clients who wish to purchase HR software solutions. It cannot be divided into weekly, monthly, or yearly basis. You must pay the entire software fee in one go before implementing it in your organization. The one-time payment fees for HR Software range between INR 40,000/- to INR 80,000/-.

4. Customization Software-Based Pricing

Most firms choose customized software-based pricing models. Here, the organizations get the HR Software customized per their unique business needs. They pay only for the customized parts of the software they use and don’t pay for the remaining parts. It is the best cost-saving option to meet personalized HR needs. The customization cost of the HR software can go as low as INR 800/- to as high as INR 80,000/- based on the complexity of the additional features you want in the software.

5. Implementation Cost

The software must be implemented in the company after purchasing it. Most of the HR software vendors ask for the additional implementation cost. It is the one-time fee incurred in implementing the new software solution in your company. Such costs include employee training, data migration, and server configuration fees. The HR Software implementation cost can range between INR 80,000 to INR 8,00,000/- on average.

6. Maintenance Cost

Regular maintenance is required once the HR software has been implemented in your organization. Although some high-cost subscription plans cover this cost, others do not. Therefore, based on your subscription plan, you might need to pay the maintenance charges of the software to avoid any technical errors or functional hindrances and keep it working smoothly from time to time. The maintenance cost of HR software is typically 15% to 25% of the total price per year.

7. Premium Support Service

Premium Support Services for HR software are paid support services. They are specially created for enterprises looking for platform stability, enhanced operational efficiencies, fast response times, and those that run priority workloads. The average cost of Premium Support Services for HR Software is INR 1,00,000/-.

8. Perpetual License Cost

Perpetual licensing is the one-time cost the company pays to the HR Software vendor. The license is forever, and companies must obey the standard compliance rules. It includes all the costs, such as annual maintenance charges, software upgrade charges, etc. Companies looking for on-premise software use it to handle their sensitive employee data without storing it on the cloud. The perpetual licensing models of the HR software have a one-time fee ranging between INR 40,000/- to INR 10,00,000/-.

9. Upgrades and Updates Costs

Every software you purchase requires regular updates. The cost incurred in upgrading or updating the software is known as Upgrades and Updates Costs. It keeps the momentum of the software in the right state, ensuring there are no technical errors or other faults while accessing the software. The average cost of upgrading the HR Software ranges between INR 8000/- to INR 4,00,000/-.

HR Software Price List In India (Updated March 2024)

 

Feature
Pricing ₹6,999/month (up to 100 employees) ₹0/month (Includes 25 Employees) ₹ 1999 Per Month for 30 Employees ₹ 40/Month per employee ₹ 2450/Month up to 50 employees Pricing on Request ₹60 per employee per month
Google Rating ⭐⭐⭐⭐⭐ ⭐⭐⭐⭐ ⭐⭐⭐⭐⭐ ⭐⭐⭐⭐ ⭐⭐⭐⭐ ⭐⭐⭐⭐⭐ ⭐⭐⭐⭐⭐
Ease of Use Yes Yes Yes Yes Yes Yes Yes
Value for Money Yes Yes Yes Yes Yes Yes Yes
Free Trial Book A Free Demo Book A Free Demo Book A Free Demo Book A Free Demo Book A Free Demo Book A Free Demo Book A Free Demo
Customer Support Yes Yes Yes Yes Yes Yes Yes

Why Do You Need To Invest In The Best HR Software?

Here are the benefits of HR Software:

1. Fully Automation HR Software

The best thing about investing in HR software is its 100% automated platform. It means everything is online and can be accessed through a server from one centralized location. The automated HR software platform allows users to accumulate, upload, store, organize, process, transform, and analyze employee & HR data on a cloud, eliminating the need for human intervention manually.

This way, all the updates or modifications will be accessed by authorized individuals in real time. Moreover, the HR team can sigh relief as they don’t have to manually handle enormous amounts of employee information. It makes the entire HR operation streamlined, smooth, and faster.

2. HR Software Helps You in Time-Saving

Huge time is wasted while handling everyday HR operations manually. Every HR-related detail, such as employee personal record, payroll, attendance, signatures, tax processing, etc., must be entered on registers, spreadsheets, or Word documents. It results in wasting time for management and leads to employee dissatisfaction and disengagement from work.

With the help of an HR Software system, we can enter, store, record, retrieve, and modify all such data in one go without wasting time. The employee and HR team can save time as the entire HR operation handling becomes faster and more intelligent. The time saved by the HR team can be further focused on their strategic business areas, and employees can focus on enhancing their company performance.

3. Accurate Data and Reporting

HR tasks management manually provides inaccurate data with no valid reports. It is because of human intervention that causes several errors. The HR admin can’t tackle and handle all the employee data manually, especially when the company is a mid-sized and large enterprise.

The automated HR software solves this issue by generating the correct data & reports. It uses the latest artificial intelligence algorithms to ensure that everything is on track with no mistakes. The latest tools, such as machine learning, deep learning, NLP, and analytics, help in keeping the employee & other HR data accurate. Moreover, you can fetch as many reports as you want by putting the relevant filters in the HR software.

4. Long-Term Cost Savings

In the manual HR operations, we waste vast amounts of money on providing salaries to the HR team and admins. Imagine that with the increase in the current number of employees, more HR admins need to be hired to handle employee queries. Providing a salary to all of them isn’t wise as you can invest that money in purchasing HR software from StartupHR Software. We offer pocket-friendly HR software solutions irrespective of the size of your company, whether it’s an SME or a large enterprise.

This one-time investment gives you higher returns in the long run. It assembles, handles, and strategizes all the HR records for risk-free HR management. Moreover, the manual handling of HR data is prone to human errors that require additional rectification costs. Implementing the human resource management system in your organization can significantly lower this cost.

5. The Software Enables a Self-Service Portal

Earlier days were hectic for the HR managers and other administrators as they were 24*7 knocked by the employees for their never-ending queries. Thanks to the cloud-based HR management Software tool, which effortlessly integrates into the employee self-service portal.

Such a portal gives authentication through login credentials to the employees for directly accessing their HR data. It can be easily accessed without HR interference, whether it is a leave request, timesheet status, personal information correction, or other updates.

6. Customization option is available

You might not want or wish to add certain features to the HR software system. Thus, such automated HR Software is customizable per their unique business requirement. Employees find it easier to adapt to the inbuilt HR software’s features & software when they are customizable.

Please choose the best software offered by StartupHR Software, which has a user-centric design with easy customization options. These options include customizable form fields, visual workflow builder, built-in custom reports, drag-and-drop tools, etc. This way, there will be fast implementation time, empowered HR professionals, and top-notch user experience.

7. Helps in Security and Data Protection

Data is cumbersome and difficult to secure when stored manually through registers, excel sheets, or documents. HR data stored in HR Software is 100% safe and protected. The cloud-based HR software uses two-factor authentication & strict access controls to ensure that confidential employee data is accessible only to authorized members. It follows all the security standards that save your data from third-party attacks.

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Types of HR software

There are three types of HR Software, as mentioned below:

1. HRMS

The Human Resource Management System (HRMS) has the features of HRIS and HCM, with some additional facilities that emphasize the administrative elements of employee management. HRMS is specifically designed to enhance the system efficiency by performing innovative analyses & creating beneficial reports. It also simplifies the time and labor management along with an automated payroll system to calculate the taxes.

2. HRIS

A Human Resources Information System (HRIS) automates all the core HR processes such as time tracking, employee benefits administration, payroll management, etc. An HRIS assists companies in becoming 10x more efficient with the help of the latest technology. It performs various functions as mentioned below:

  • Recruitment
  • Onboarding
  • Compliance
  • Payroll
  • Learning Management
  • Analytics & Reporting
  • Employee Self-Service
  • Time and Attendance
  • Performance Management

3. HCM

Human Capital Management (HCM) is the extended version of the Human Resources Information System (HRIS). It has features similar to HRIS but offers solutions to more complex HR problems. It analyzes the entire career path of the employees and comes up with solutions to ensure high retention rates & job satisfaction. Moreover, the HCM system offers customizable solutions to meet specific organization’s needs.

How to Choose the Right HR Software

Here is how you can choose the right HR software for your organization:

1. Identify your Business Needs

People often fail to choose the right HR Software for their organization without understanding their business needs. Therefore, perform a detailed study of your business-specific needs & requirements. Make a document stating all your business needs & show it to the HR Software vendor before finalizing the one. It ensures all your needs are met through the software. Some of the needs you need to identify are:

  • Identify the list of HR processes that must be managed via HR Software.
  • Identify the functions and features you wish to see in your HR software.
  • What HR goals do you aspire to accomplish with the help of HR software?
  • What should be the layout of the HR software platform that is easy to understand & operate by your employees?

2. Determine your Budget

Every business has a particular budget plan in which they wish to avail themselves of the maximum features & facilities. Discuss this budget plan with the HR software vendor and let them decide the best possible service that can be prepared for you. This budget will allow you to filter the relevant & irrelevant software, saving time & effort.

However, we urge you to think outside the box and from a long-term perspective. There are specific new-age AI features embedded in the HR Software that slightly disturbs your budget but give you higher returns in the long run. Negotiation and available offers will be helpful at the end of the software finalization, so make the best out of the premium HR Software.

3. Research and Compare HR Software Providers

Once you have determined your unique HR requirements & budget, it’s time to research the best HR Software vendors. Look for options like functions, cost, scalability, ease of access, features, reviews, company age; total customers served to date, etc. It helps you to compare the authenticity of all the available HR vendors and finalize the best one for your company.

4. Request a Demo and Ask for References

Once you conclude which couple of HR Software vendors you wish to go ahead with, ask them to demonstrate the demo session of the entire software. Finalize the vendor with the best demo demonstration that meets your business needs. Ask as many questions as possible, such as whether the customization or scalability factor is possible, and ensure the HR Software has its all. Moreover, ask for the references of the clients that they served so far. Verify the effectiveness of HR software by attaching with those clients and taking detailed reviews from them.

Which is the Best HR Software in India

Top 10 HR Software in India

1. Zimyo

Zimyo stands for a foremost player in the Indian HR tech industry, software known for its comprehensive and user-friendly solutions. Their cloud-based HR software covers many features, including payroll management, employee engagement, and talent acquisition. Also, zimyo empowers businesses to automate daily HR activity and allows HR professionals to focus on strategic initiatives.

2. Keka

KekaHR is a top choice for managing teams, helping companies, and nurturing great employees. From attendance tracking to performance management, they offers a holistic solution to enhance organizational efficiency. The software also boasts advanced analytics, providing valuable insights for informed decision-making.

3. PocketHRMS

PocketHRMS specifically catering small and medium-sized enterprises (SMEs). They focus on automation and aim to reduce manual interference and minimize errors in HR processes. With this software, businesses can effectively manage their human capital while staying agile in a dynamic market landscape.

4. uknowva

uknowva is best for small businesses and startups because it makes it easier by automating daily tasks and activities. It is a collaboration platform that brings together HR, communication, and project management tools. This software enables seamless team communication while also addressing HR functions such as leave, attendance, employee onboarding, and performance appraisal.

5. greytHR

greytHR is a well-established software used by over 20,000 companies. This software covers a broad range of features, including HR functions, payroll processing, attendance management, and compliance. greytHR is suitable for businesses at various stages of growth.

6. Qandle

Qandle is a modern HRMS for growing companies to simplify complex HR processes. The software offers modules for talent acquisition, performance management, and employee engagement. They also focus on customization, and it allows businesses to customize the software as per HR requirements.

7. Wallet HR

Wallet HR is a dynamic HR software solution designed to change the way businesses manage their human resources. With its user-friendly interface and cutting-edge features, Wallet HR simplifies HR processes such as leave management, attendance tracking, and payroll processing. The software prioritizes employee experience, offering self-service portals and mobile access for seamless dealings. The software offers quick implementation and customizable options, making it a preferred choice for organizations.

8. SpineHR

SpineHR is also the leading HR and Payroll software in India. They offer a user-friendly interface and excel in facilitating efficient employee data management, payroll processing, and ensuring compliance with regulations. This software is adept at meeting the diverse needs of businesses, making it a versatile and reliable choice across various industries and organizational sizes.

9. 247HRM

247HRM is a leading HR software in India, offering comprehensive solutions for workforce management. With its intuitive interface and advanced features, 247HRM streamlines HR processes such as payroll management, leave tracking, and performance appraisal. The software is designed to adapt to the unique requirements of each organization and help scalable solutions that cater to all-size businesses.

10. Darwinbox

Darwinbox is a next-generation HRMS platform that redefines employee experiences and HR processes. Software offers modules for talent management, employee engagement, and analytics. The highly customizable platform allows organizations to create customization solutions that align with their strategic objectives. With its focus on employee empowerment and data-driven insights, Darwinbox empowers organizations to drive growth and success in the digital age.

Conclusion

You got the answer to your question of How much HR Software costs. The cost of HR software can vary widely depending on various factors, such as the company’s size, the features included in the software, the level of customization required, and the type of deployment chosen. If you’re searching for an HR software demo, then StartupHR Software is the company to contact. With their exceptional HR software, you can be carefree and confident that you’ll receive the best solution for your needs.

What is StartupHR Software & How we Setup HR Software Demos

What is StartupHR Software?

What is StartupHR Software?

StartupHR Software provides end-to-end HR software solutions to clients in India. We have partnered with top HR software companies in India, such as Kekahr, Darwin Box, Greythr, HRone, and more…

StartupHR Software’s services involve providing demos to clients actively looking for HR and payroll software. We consider the client’s requirements and set up demos with the software company they find best suited for their needs. They also act as personal HR consultants for their clients and provide them with dedicated support until the end of the process.

StartupHR Software refers to itself as “dedicated demo ninjas” as they strive to provide its clients with the best HR software demos in the market. In addition, clients who go through Startuphr Software to find their software solution will receive a discount on the quotation pricing of the software. This added benefit is an excellent value for clients looking to save costs while obtaining the best HR software.

Our Work Ethic

 

Step 1: We talk to our clients:

Our dedicated team understands the importance of every client. We start by conversing with our clients to understand their needs and requirements. We ask them about the specific features they are looking for in the software, their budget, the number of employees, and the problems they have been facing.

 

Step 2: Provide demos:

After understanding our client’s requirements, we set up demos with the HR software companies that are compatible with them and will help them achieve their goals. We set up demos for our clients so that they can see how the software works and how it can benefit their organization.

 

Step 3: Act as personal HR consultant:

We understand that navigating the world of HR software can be overwhelming for some clients, which is why we act as personal HR consultants. We provide end-to-end solutions to help our clients choose the right HR software that will work best for them and their organizations.

 

Step 4: We ensure client satisfaction:

Our ultimate goal is to ensure our clients are happy and satisfied with their chosen HR software. We provide ongoing support to our clients to ensure they get the most out of the software and meet their needs and requirements.

 

Step 5: We go the Extra Mile:

At StartupHR Software, we go above and beyond for our clients. We are committed to providing the great possible service and support. We pride ourselves on being dedicated demo ninjas who offer our clients the best HR software available.

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How We Deliver Results and Value

 

1. Expert Guidance:

Our team of dedicated demo ninjas will guide you through choosing the right HR software based on your needs and requirements. We understand the requirements of our clients. Is it basic HRMS or Hire to Retire solutions they require? We guide them through the process, from evaluating HR software to its implementation.

 

2. Save Time:

If you contact us, We simplify HR software selection by assessing your needs, requirements, and employee strength and providing customized options where we tell you about which company has the best UI, features, and customer support.

 

3. Personalized Demos:

We set up personalized HR software demos. It will help you get a firsthand look at the software and understand how it will benefit your organization.

 

4. Pocket-Friendly Offers:

We have Pocket-Friendly pricing, helping businesses to save money. HR software solutions are critical for managing HR processes, such as recruitment, onboarding, employee management, payroll, etc. We provide a significant discount of (up to 50% off) to our customers who choose HRMS solutions through our company.

 

5. Wide Range of Choices:

We provide multiple options to meet your needs. Our partnership with top HR software companies in India provides you with various choices. We have many features, including payroll software, performance tracking, career development, time and attendance management, streamlined hiring and onboarding processes, professional services automation, and customer relationship management capabilities.

What Benefits you will get

 

1. Streamline HR processes and gain access to a comprehensive solution that simplifies HR management from hire to retire.

2. Get real-time data and analytics to make informed decisions that help your business grow.

3. Increase employee engagement and satisfaction with tools that promote collaboration, recognition, and feedback.

4. Simplify onboarding and offboarding processes to save time and improve the employee experience.

5. Reduce paperwork and increase efficiency with automated workflows that minimize errors and delays.

6. Build strong and honest relationships with employers by providing personalized support and guidance at every step.