7 Tips for Choosing a Payroll Company
Whether you’re looking for a turnkey solution or a web-based service, pricing is an important consideration. Check that all costs are accounted for in any proposal you get from a payroll specialist. There are typically two fixed costs: salary and technology. There may be other costs attached to the cost of outsourcing your payroll management. Ask the vendor what other costs may be part of providing a solution before making your choice.
- Education and Experience
Ask for background information on the team that will handle your account. Qualifications are important, but experience in payroll management should be mandatory. Whether your team is on EBAs or your workforce is mainly unionised, there are particulars of all agreements you have in place that payroll need to be aware of.
Knowing which questions to ask and how to answer them is the key to a payroll provider understanding your business and how it operates.
- Secure Systems
Cybercrime is making inroads to business and payroll and accounting systems can be easy targets [link to blog 1]. For a small business, losing a week of payroll can be crippling and for larger organisations, it can cause damage to hard-won reputations.
Constant investments in technology, resourcing and further learning are an indication of the importance a payroll specialist places on your sensitive information and financial security. Make sure your provider is serious about security and privacy before making a commitment.
- Quality Assurance
In order to deliver the best to your customers and clients, your payroll systems need to behave flawlessly. After all, your most valuable assets are your staff. Making sure that they’re paid on time and correctly requires a payroll service provider to respect your business as much as you do.
Integration of your payroll system with your accounting software and HR department reduces time and hours spent preparing documentation that meets your obligations as an employer, taxpayer and corporate citizen. Cloud-based payroll systems can be seamlessly integrated without compromising the security of your existing infrastructure.
Your business will grow and change over time and so should your vendor and the services you require.
Choose a company that will scale with your business. If you employ a seasonal workforce, consider a schedule of services that are tailored to your needs. If you have plans for expansion which include offices in other states or even countries, consider the importance of a payroll service company with experience in other markets or working with partner-vendors.
We live in a 24/7 economy. If you run your business around the clock, you should expect that your payroll company does, too. A time-sensitive organisation needs access and answers all day, every day. If payroll is a task that takes place after normal business hours in your organisation, a payroll specialist that operates when you’re online can save time and costs associated with missed deadlines.
Run Your Payroll Safely and Efficiently
For more on how to outsource payroll service call all i3Group, Melbourne’s payroll specialist. Our friendly team is available to help you decide on the payroll management and software system that suits you needs. Call 1300 725 647 or contact us via the online enquiry form.