Why Paysquare is the leader in Payroll Outsourcing
Paysquare is a specialist in the area of payroll outsourcing and is the preferred partner for a large number of clients. With an exclusive focus on payroll outsourcing and led by a highly qualified team of chartered accountants, Paysquare has consistently ensured over 99% accuracy in payroll
processing across its engagements. Paysquare offers end-to-end services in payroll processing, from basic payroll calculations, meeting statutory compliances, facilitating transparent employee communication, while ensuring complete confidentiality.
The foundation of Paysquare has been built around people who believe in stretching that extra mile to deliver unmatched value in payroll outsourcing engagements. Across our payroll outsourcing engagements, our teams have been able to build strong relationships, based on trust, quality and efficiency.
Our teams make it easy for you to transition to a managed payroll services scenario. We have dedicated incubation teams that help you manage the migration with ease.
During normal operations, we have a 3-tier team structure to ensure proper communication with clients at all levels.
Our talent pool ranges from experienced commerce graduates, highly experienced MBAs, Chartered Accountants among other professional courses.
Paysquare has invested upfront in building strong automation in its payroll outsourcing business. This has been possible because of the vision and foresight of the management team. Because of the high level of automation and strong process culture, Paysquare is able to offer high degree of accuracy and predictability across its payroll outsourcing engagements.
With its highly customizable and robust back-end salary engine ‘Precision’, Paysquare offers complete automation while offering managed payroll services to its clients. Precision has been built incorporating years of experience in managing payroll across a wide variety of organizations.
A real-time synchronization of ‘Precision’ with Paysquare’s web-based ‘myPayroll’ portal offers employees complete access to their salary related information. Employees can access myPayroll using secure logins and provide tax related declarations, submit claims for payroll and non-payroll re-imbursements and can also manage their leave balances. myPayroll also provides a single window for the HR/Finance teams of client organizations to interact online with the Paysquare teams. Powerful MIS reports generated through myPayroll help in making life easy for the HR & Finance divisions.
Processes & Standards
Paysquare believes in following a highly process driven approach with high emphasis on documentation. With its investments in Precision & myPayroll, Paysquare is able to offer a high degree of automation in its payroll outsourcing business. This also ensures accuracy, consistency and high predictability through its customer engagements.
This has ensured accuracy, consistency and high predictability through its customer engagements.
Paysquare follows international standards in its operations and is ISO 27001 as well as ISAE 3402 – SSAE 16 certified.
• ISAE 3402 Overview
International Standard on Assurance Engagements (ISAE) No. 3402, Assurance Reports on Controls at a Service Organization, was issued in December 2009 by the International Auditing and Assurance Standards Board (IAASB), which is part of the International Federation of Accountants (IFAC). ISAE 3402 was developed to provide an international assurance standard for allowing public accountants to issue a report for use by user organizations and their auditors (user auditors) on the controls at a service organization that are likely to impact or be a part of the user organization’s system of internal control over financial reporting.
• SSAE 16 Overview
Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization, was finalized by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA)
in January 2010. SSAE 16 effectively replaces SAS 70 as the authoritative guidance for reporting on service organizations. SSAE 16 was formally issued in April 2010 with an effective date of June 15, 2011. You can order a copy of SSAE 16 from the AICPA's online store at http://www.cpa2biz.com -
publication number 023035.
The entire systems at Paysquare is protected from any external threats such as virus, malware or hacking.
Paysquare also has Business Continuity plans (BCP) as well as Disaster Recovery plans ( DRP) in place to ensure that any calamity does not affect business operations of clients.