When is it Time to Switch Your Payroll Provider?
Business changes over time and so too do policies, process and partnerships. Today’s fast moving economy demands that online payroll services are integrated with accounting and HR platforms. They need to be agile enough to account for mobile staff and contractors and secure enough to protect against both internal and external security threats.
Remaining competitive as a business and an employer means having world-class partnerships in every area, from accounting to HR, IT and payroll. Regularly reviewing your business partners and vendors can eliminate redundancies and identify gaps in service before they impact negatively on your business.
There are a few key areas where problems with your payroll company may stand out. In most cases, assessing your options with a review of the market will determine whether or not you need to change vendors.
So, can your payroll service meet the changing demands of your business? Give them a review by checking them against the points below.
Payroll is a time critical function of all businesses. Employees and contractors need to be paid on time to maintain good faith and trust in the relationship. If your payroll service company can’t respond to time-critical issues, there is a fundamental problem. Try to establish response time expectations. If your provider is unwilling to meet your benchmarks, it may be time to evaluate a competitor.
A demand driven economy requires complete responses and explanations. If your payroll providers are not delivering timely information regarding upgrades, service outages, personnel or procedure changes, you may be relying on the wrong vendor.
Scaling for Change
Ten years can be a long time in any business. If your company has grown from one employee to 100 in that time, you probably have a number of antiquated and redundant processes in place.
If your payroll is one of those, it might be time to outsource it and review your accounting and finance practices.
For many businesses, bringing IT systems up to speed can mean any number of specialist providers communicating together – marketing, sales, accounting, HR and payroll.
With a larger staff, security is more important, with private information vulnerable to phishing attacks. Today’s payroll software systems need to be as sophisticated as those of any large bank in Melbourne or the rest of the world.
Payroll Specialists Melbourne
When you’re ready to ask the hard questions, call i3Group, Melbourne’s payroll service providers. Our experienced and professional team is available to provide a payroll management and software system tailored to the unique needs of your business. We provide fully scalable solutions that can assist you today and into the future.
Call 1300 725 647 or contact us via the online enquiry form.