The decision to outsource payroll should not be taken lightly. Yet, there are multiple benefits in which outsourcing payroll can bring about. In fact, 73% of organisations today outsource some aspects of their payroll.
While outsourcing payroll takes the burden of computing employees’ salaries accurately away from your payroll team, there are certainly areas for improvements. Some of these aspects include compliance, self-service, accuracy, and technology capabilities. When choosing a payroll provider, it is imperative that organisations can have a peace of mind without having to worry about payroll inaccuracies or tax deadlines.
Here are some key features to look out for when deciding on a payroll provider to go with:
Platform features
Aside from payroll processing and handling all tax obligations, consider whether the payroll provider is able to support your organisation’s core payroll requirements. This may include multiple salary disbursement options, detailed payroll reports, or tracking of overtime. Discuss with the potential payroll provider to ensure that their services address all your payroll needs.
Ease of use
The payroll software should not be overly complex and difficult to navigate. After all, payroll software is meant to streamline the payroll process. Ideally, it should have an easy-to-use interface by your organisation’s payroll department and allows for ease of uploading payroll data, updating employees’ records and running payroll reports.
Data integration capabilities
Depending on the industry that your organisation is in, there may be multiple business applications such as time and attendance systems or accounting software. It would be extremely beneficial if the payroll provider is able to integrate these existing data into their payroll software. This helps to ensure seamless data transfer, ensuring data accuracy. Concurrently, it may be helpful to look for payroll providers that own and develop their own payroll technology. This may offer added flexibility should there be a change in your organisation’s software.
Data protection
A reliable payroll provider would have robust data protection and protocols in place. After all, they are managing your organisation’s sensitive and critical payroll data. Look for payroll providers that are able to iterate their data protection process and measures that will be undertaken in the event of a data breach.
Customer support
A good payroll provider should be able to support you when your organisation needs it. You should feel confident knowing that customer support is readily available should there be a system outage or platform issues. Some of the questions to ask may include the mode of communication (phone, email, or chat), the average response time for each request, and if there is a team of specialists that oversee specific domains of customer requests, such as data privacy or compliance. It is also best to check whether there will be a dedicated account manager assigned to your organisation. This helps to enable a successful partnership with the payroll provider.
Added services
To get the most of your payroll provider, enquire if there are any added services offered on top of payroll processing. This may include benefits administration, multi-country services, or even accounting software. These added services could eventually tie into your overall payroll strategy and bring about significant cost and operational benefits in the long run.
When selecting your payroll provider, there are various factors to consider to ensure a successful partnership. Choose a payroll provider with strong knowledge and expertise and is able to offer tailored solutions to your payroll function. At the same time, a good level of customer service is critical to help you outsource your payroll function with an ease of mind.
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