For startups, scale-ups, and SMEs, payroll is not just about pushing one salary file at the end of the month. You need a single system that juggles multiple payout cycles, leave sync, compliance, and reporting while staying friendly to tight budgets and lean teams. Founders and finance leads often try Open Money because it promises an all-in-one payment stack that cuts admin work.
User reviews mention that Open Money supports only one monthly payroll run, offers limited control over invoice layouts, and can take longer than expected to credit salaries. Slow IMPS transfers and missing RTGS options add more friction just when you need everything to move quickly.
If those pain points ring true, you are in the right place. This guide profiles the top Open Money Payroll alternatives that deliver richer HR workflows, faster payouts, and transparent pricing so you can choose the best platform for your next growth phase. Let’s dive in.
Open Money is an all-in-one solution for business payments. It is ideal for banks and business finance teams to streamline payments by automating billing, reconciliation, and account-to-account payments.
Here are the core Open Money products/services:
HRMS & Payroll: Simplify payroll processes, ensure compliance, and manage leaves in one platform
Accounting: Automate accounting, cash flow management, and tax calculations
GST e-Filing: Automate GST filing and managing invoices, ensuring compliance
SaaS spend management: Automate receipt collection, approvals, and real-time spend tracking
While Open Money has served several finance teams, we took to G2 and Capterra to find what Open users struggle with.
Supports monthly payments only
"I want to be able to pqy my employees whenever i want. Right Now, it allows me to pay them once a month."- Source
Limited invoice customisation
"More customisation in invoicing, need atm withdrawal for founder cards"- Source
Slow money transfer
"Takes little time to credit the amount to beneficiary account, needs a improvement (mainly while we transfer IMPS transfers)""RTGS options not available"- Source
Here’s a sneak peek into the best Open Money Payroll alternatives before jumping into a detailed feature breakdown:
List of Open Money Payroll Alternatives:
Craze- Best for Indian startups and growing businesses looking for all-in-one HR, Payroll and IT software in one place
RazorpayX Payroll - Best for Medium to large enterprises with payroll automation needs
Zoho Payroll - Best for SMEs looking for basic and cost-effective payroll software
Keka - Best for Medium and large enterprises looking for payroll automation with no budget constraints
GreytHR - Best for SMEs with basic payroll needs
Kredily - Best for Small to medium businesses looking for tax accounting and payroll automation
FactoHR - Best for Medium and large enterprises looking for basic, user-friendly payroll software
ZingHR - Best for SMBs and large enterprises looking for payroll and workforce management software
Quikchex - Best for Medium to large enterprises with payroll compliance and IT automation needs
Zimyo - Best for SMEs looking for payroll automation and expense management
Craze – Integrated and compliant HR and payroll software for startups with advanced payroll needs
Craze, one of the top Open Money Payroll alternatives, gives fast-growing teams one workspace for everything people-ops. Core HR holds every employee record, while plug-in modules cover payroll automation, leave and attendance tracking, IT assets, engagement, and performance reviews. Founders like the clear per-employee pricing and the support crew that jumps on chat in minutes. With guided onboarding and ready templates, you can run the first pay cycle in a few hours without outside consultants.
As headcount climbs, Craze keeps pace. It tackles different state taxes, the attendance engine syncs geo-fenced clock-ins with overtime rules, and the report builder pulls real-time data from any module for instant analysis. All features are live from day one, so there are no surprise paywalls when your processes mature.
Key features
Core HR with multi-entity setup, department hierarchy, and granular role permissions
One-click payroll covering taxes, PF, ESIC, TDS, reimbursements, loans, and contractor payouts
Custom leave and holiday policies with automated approvals and real-time balance dashboards
Attendance module with geo-fencing, biometric integrations, bulk timesheet uploads, and overtime rules
Performance and OKR cycles, plus pulse or anonymous engagement surveys
Asset management that assigns hardware during onboarding and tracks lifecycle and location
Self-service portal for payslips, tax forms, leave requests, and profile updates
Report builder exporting data from any module for quick finance and HR insights
A responsive support team is available via in-app chat
Pricing
Growth: Pricing starts at ₹60/month/employee for Core (with no feature gating). You can add other modules like payroll, leave & attendance, IT asset management, engagement, and performance with additional charges.
Custom: Appropriate for enterprises with 500+ employees.
RazorpayX Payroll – Good software for businesses looking to automate payroll
RazorpayX Payroll automates payroll processing and compliance. It customises earnings and deductions to ensure accurate and timely payouts.
Key features
Automate compliance payments like TDS, ESI, PT & PF
Generate payroll reports, including salary registers
Automated leave management system
Pricing
Prime: ₹2999/month for up to 20 employees
Elite: ₹5999/month for up to 50 employees and ₹120/employee/month for extra employees
Enterprise: Custom pricing plan
Zoho Payroll – Good software for Indian SMEs with basic payroll needs
Zoho Payroll is an integrated payroll software that automates payroll calculation. It streamlines payroll processing while ensuring statutory compliance and on-time payouts.
Key features
Create custom pay slabs for different job roles
Generate Form 16 for IT returns
Incorporate statutory components like PF, ESI, PT, etc. based on Indian laws
Pricing
Free: ₹0 up to 10 employees
Standard: ₹1250/ month for at least 25 employees & ₹50/additional employee
Professional: ₹3750/month for at least 50 employees & ₹75/additional employee
Premium: ₹5000/month for at least 50 employees & ₹100/additional employee
Keka – Good software for enterprises with high budgets looking for payroll automation
Keka is one of the top Open Money Payroll competitors that simplifies payroll processing. It ensures compliance with Indian labour and tax laws and makes it easy for HRs to plan compensation structures without prior payroll knowledge.
Key features
Configure rules based on salary components
Preview payroll before finalising
Share payslips via emails, mobile app, or SMS
Pricing
Foundation: ₹9,999/month for up to 100 employees and ₹90/month for each extra employee. No access to employee self-service, advanced reports, employee onboarding, and more
Strength: ₹12,999/month for up to 100 employees and ₹120/month for each extra employee** No access to custom reports, workflow automation, performance reviews, etc.
Growth: ₹15,999/month for up to 100 employees and ₹150/month for each extra employee. The helpdesk is available as an add-on for all plans
GreytHR – Good software for companies with basic payroll needs
GreytHR is an end-to-end payroll and HR software that enables you to control the full payroll cycle. It streamlines payroll processing, from compliance to payouts and FnF settlements.
Key features
Customisable salary structures
PF calculations with ECR generation
Automatic policy enforcement
Pricing
Starter: ₹0/month for 25 employees with limited features
Essential: ₹3495/month for 50 employees and ₹35/month/employee for extra employees
Growth: ₹5495/month for 50 employees and ₹65/month for each extra employee. Add-on pricing for business expense claims management
Enterprise: ₹7495/month for 50 employees and ₹105/month/employee for extra employees
Kredily – Good software for enterprises with tax management needs
Kredily is an HR & Payroll tool that automates tax management. It streamlines payroll, ensures compliance, and manages taxes with automated reports and payslip generation.
Key features
Customise salary structures as per business needs
Predefined salary components
Payslip generator for generating detailed employee payslips
Pricing
Free forever: ₹0 /Month with basic payroll features
Professional: ₹1499/Month for up to 25 employees and ₹60/extra employee with no income tax computation
Enterprise: Custom pricing based on chosen features
FactoHR – Wizard-driven payroll software
FactoHR is a cloud-based HCM platform that automates HR tasks and payroll. It is wizard-driven software that streamlines and centralises payroll processes.
Key features
Mobile app and ESS portal to view taxes, pay, leave, etc.
Create multiple payroll groups based on pay cycle, calendar, and location
More than 15 payslip formats to choose from
Pricing
Core: ₹4,999 /Month for 50 users and ₹69/month for each extra employee
Premium: ₹5,999 /Month for 50 users and ₹89/month for each extra employee
Ultimate: ₹6,999 /Month for 50 users and ₹119/month for each extra employee
ZingHR – A zero-touch payroll and smart workforce management software
ZingHR is workforce management and payroll software that streamlines HR functions. It helps process payouts faster, considering attendance, work hours, and compliance.
Key features
Visual payroll snapshot showing payday, month, status, etc.
MIS output to access salary registers, PF reports, and more
Real-time dashboards to capture attendance
Pricing
Undisclosed
QuikChex – Good software for enterprises with payroll compliance needs
QuikChex is HR payroll software for managing Indian company payrolls. It streamlines HR and payroll operations and ensures statutory compliance.
Key features
Custom salary templates
Automatic EMI calculation for loans
Auto-generate payslips and Form 16
Pricing
Self-service: Starts at ₹4,500 per month with no payroll compliance and income tax management and ₹45/month for each additional employee
Full-service: Starts at ₹7,500 per month and ₹75/month for each additional employee
Zimyo – Good software to automate expense management and payouts
Zimyo is an HRMS and payroll software that ensures compliant payroll processing and tax filing. It streamlines expense management within payroll, helping you manage multiple expenses.
Key features
Set expense approval workflow
Centralised data management
Configure compliance and salary structures
Pricing
Basic: ₹4,000/month for min 50 users
Standard: ₹6,000/month for min 50 users
Enterprise: ₹8,000/month for min 50 users
There’s no one feature list that everyone should follow. The features you choose depend on your use cases. However, looking at user reviews, we created a list of features that are must-haves in the Open Money alternative you implement.
Automatic calculations: Look for tools that automate salary and tax calculations
ESS portal: Choose software with a self-service portal to access payslips, forms, tax declarations, salary info, and more
Customisation: Pick a tool that allows you to create custom salary structures, leave policies, payroll reports, etc.
Customer support: Check if the vendor offers dedicated support to help you learn the tool
Integrations: Pick a tool that automatically syncs with your HR, leave, and attendance systems
Speed and efficiency: Make sure to choose software that loads fast and efficiently processes payouts no matter the data volume
On-time salary: Choose tools that process accurate payments on time without much manual effort
Choosing the best HRMS platform depends on your business use cases and headcount growth. We might sound slightly biased, but our vote is for Craze as a startup-friendly Open Money alternative.
You are a perfect fit for Craze if:
You are a startup or scale-up building people operations from the ground up and need an all-in-one HR, Payroll and IT system that scales effortlessly with headcount growth
You are frustrated with all the feature lock-ins and looking for an HRMS solution that’s affordable and provides access to all advanced features
You want to work with an empathetic and genuine customer support team that’s always ready to help
Sounds interesting?
See what Craze is capable of.
Q1. Which Open Money Payroll alternative supports multiple payout cycles in a single month?
Craze lets you run off-cycle payroll, batch payments from the same dashboard, so you can pay interns on one schedule and full-time staff on another without extra setup. RazorpayX Payroll and Keka also offer multi-cycle options, though they may limit how often you can edit payout dates.
Q2. How quickly can I migrate employee and salary data from Open Money to another platform?
HRMS like Craze offers a white-glove service: you fill a simple Excel sheet, the team imports it into the backend, and employees log in with history intact. Keka, GreytHR, and FactoHR provide migration utilities that map Zoho fields and let you schedule a cut-over on a weekend. Tools like RazorpayX Payroll or Kredily expect you to prep CSV files yourself, so plan extra time for validation. In most cases, a clean migration takes three to five working days if you have your data organised.
Q3. Are real-time or instant salary credits available with the alternatives?
Yes. Craze supports instant payouts from the dashboard. So, funds reach employee accounts within minutes/hours of the payroll run, depending on the banking infrastructure. RazorpayX Payroll offers a similar real-time option via its own current-account rails, while GreytHR still relies on traditional NEFT or IMPS timings.
