Tag Archives: payroll outsourcing

5 things to consider before you choose your payroll outsourcing provider

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Payroll is not a core function that gets you the revenues, but it is an important function and needs to be managed well to ensure a bunch of happy employees. Here are a few things that you should consider before you make a choice among the payroll outsourcing vendors.

1. Data integration & migration:  You have been operating with your own team thus far, so you have been using some system and have your own set of learning’s and of course you have data. Find out how the vendor can ensure a seamless transition to their payroll system with over the shoulder support and intuitive tools to get the migration and integration activities done.

2. Integration with time-based attendance systems: Over time, you have moved from the traditional musters to electronic attendance systems like swipe cards, biometric devices. While you process your payroll, you need to access this attendance data. Find out how easy it is to integrate the data from your time-based attendance systems to the payroll masters.

3. Integration with accounting data: While you run payroll in a completely different system, all the payments need to be accounted, provisioned in the accounting system. Find out how easy it is to integrate your payroll with your accounting data.

4. Managing compliance requirements: Meeting changing government compliance requirements related to payroll is not a choice, but a compulsion. Making mistakes or missing out on compliance requirements can land you in trouble. Find out how your payroll outsourcing vendor can help manage compliance requirements for you.

5. Fully functional web portal: Employees want to manage all aspects related to their payroll themselves. Find out if your vendor can provide your employees with authenticated secure logins, so that they can manage their payroll and tax information online, at their own convenience.

There are just some features that you need to check before deciding on your payroll outsourcing vendor. Of course Paysquare offers you a host of other features as well, making us the preferred payroll outsourcing partner for over 250+ clients.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records.Paysquare offers a host of benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Aditya

sales@paysquare.com

Twitter – @PaysquareIndia

Why SMEs should seriously consider payroll outsourcing

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SME’s typically operate with multi-skilled and multi-tasking teams that are ready to go the distance to meet the organization requirements. Creating a specialized payroll team becomes expensive and cumbersome to manage. Even if they do create a payroll team, it involves too much supervision and eats up a lot of management bandwidth. Also non-compliance to regulations can be very expensive for the SME. Because of all of these factors, they should consider payroll outsourcing

Why SMEs should do payroll outsourcing

Why SMEs should do payroll outsourcing

 

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records.Paysquare offers a host of benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

Improve your margins with payroll outsourcing

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You may have used several avenues to improve your company margins. Ever wondered, how much difference, motivated employees can bring to your company margins?

Improve your margins with payroll outsourcing

Improve your margins with payroll outsourcing

Payroll is one of the most important hygiene factors for every employee. It is one of the prime reasons, why they continue to work. Errors in payroll and tax computation can cause anxiety and dissatisfaction among a lot of employees. This tends to impact productivity at work and eventually starts affecting company performance.

With payroll outsourcing managed by Paysquare, errors in payroll become a thing of the past and employee productivity can never be any better.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records.Paysquare offers a host of benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

The relevance of online web portal in payroll outsourcing

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Traditionally, payroll functions within organizations have operated like a black-box. The only thing that comes out for employees are payslips and tax reports (apart from salary credits, of course & issue of cheques in some traditional companies). Today, with the availability of online web portals for payroll, this process is getting a lot more transparent (yet secure & authenticated). This is an important factor to consider, when choosing a vendor for payroll outsourcing.

Payroll outsourcing-online web portal

Payroll outsourcing-online web portal

With individual logins to the online web portal, employees are now able to access their digital payslips, tax reports and a lot more 24*7. This is very convenient for employees, as they do not need to depend on their HR teams for every small requirement (related to payroll reports)

Here are some of the known benefits of having a fully functional online web portal for payroll

1)    View/Access/Print payslips – Employees today need their payslip for a variety of reasons including opening of Bank accounts, applying for credit cards, applying for different types of loans, Visa applications etc. Requesting for a copy of the payslip from HR department every time tends to be a lengthy process. The online access helps solve this problem completely.

2)    Making their own tax declarations – Several times, payroll teams make errors in tax computations purely because they have not factored the employee tax declaration appropriately (data entry errors). By giving the power of the declaration to employees via their logins, employees can be sure that their tax declarations are submitted right.

3)    Grievance Management – With online payroll portals,provided by payroll outsourcing vendors like Paysquare it is possible to manage employee grievances via email. This offline process helps employees a lot, as they don’t need to leave their desks to take up their grievances with the HR/payroll teams. Typically resolutions happen over email and pretty quickly.

Paysquare, with its web based  ‘myPayroll’ portal provides secure logins to employees.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare  

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Aditya

sales@paysquare.com

Twitter – @PaysquareIndia

Managing statutory compliance in payroll outsourcing engagements

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Companies need to operate and comply with the govt. tax regulations/frameworks in which they operate. For e.g. companies, depending on their business may need to pay sales tax, VAT, Income Tax, Service tax etc. The rules and clauses pertaining to each are quite complex. While you choose your payroll outsourcing vendor, it is important to keep these factors in mind.

Payroll outsourcing -Statutory compliances

Payroll outsourcing -Statutory compliances

These tax regulations themselves do not remain static in nature and are subject to change quite frequently. However it is mandatory for companies to keep track of these changes and comply with these regulations at all times.

While some companies prefer to manage these activities in-house, they tend to be cumbersome and time-consuming. Also the implications of not doing it right are pretty serious. There could be hefty fines and penalities attached.

It is better to have a specialist do this for you. Paysquare provides end-to-end managed payroll services to its customers. Paysquare also manages all related statutory deductions and filings related to the same.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records.Paysquare offers a host of benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Aditya

sales@paysquare.com

Twitter – @PaysquareIndia

Process driven approach – A must in payroll outsourcing

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When we look at the business environment around us, we realize that most successful businesses are focused on driving process efficiency. A process centric approach helps organizations provide predictable, repeatable and consistent customer experience. For e.g. Process efficiency and automation allow banks and financial institutions to offer superlative service to their customers, every single time.

Process driven approach - A must in payroll outsourcing

This applies pretty well to all the functions within an organization, so why should payroll be any different?

While you do payroll outsourcing, mapping organizational and HR practices to a robust payroll process is the order of the day. With a highly functional and customizable back end payroll engine (Precision) Paysquare ensures a high degree of process efficiency across its payroll outsourcing engagements. This keeps human intervention to a minimum and helps in maintaining a high degree of accuracy.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records. Apart from high process efficiency, Paysquare does offer a host of other benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Aditya

sales@paysquare.com

Twitter – @PaysquareIndia

 

Successful Payroll outsourcing – How do you measure it?

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Processing payroll is an important activity for every organization. The performance of the payroll processing or payroll outsourcing team is evaluated based on a few common parameters. Some of these include number of errors in the processed payroll, accuracy in tax computation for employees, timeliness of payroll, the ease/flexibility with which HR can provide inputs to the payroll process, the ease of accessibility of payslips & tax computation reports for employees.

Customer loyalty a measure for successful payroll outsourcing It is possible to assign metrics to these various parameters and include these as SLA’s, when you sign a contract with your payroll outsourcing services provider.

We, at Paysquare feel that the real success is when customers remain loyal to you.  This can happen only when all of the above parameters are consistently positive for extended periods of time. Moreover, additional specials like personalized service, approachability, excellent team attitude, superior customer service keeps the customers interested at all times.

Paysquare offers managed payroll services with accuracy levels exceeding 99.4% across its engagements. This is made possible because of its rich experience in managing payroll and a high degree of automation enabled by Precision, its back end payroll engine. Paysquare has over a decade of experience in handling payroll for its 250+ customers. A large majority of the customers have been with Paysquare for over 5 years.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records.Paysquare offers a host of benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Aditya

sales@paysquare.com

Twitter – @PaysquareIndia

Handling confidentiality in payroll, think payroll outsourcing!

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Organizations strive to keep payroll information confidential in order to avoid employee conflicts and to maintain a proper work environment. Information leaks can lead to loss of productive time for the employee concerned and significant loss of HR branding value for the organization, because of the negative word of mouth communication.

silent payzones and the advantages of payroll outsourcing

silent payzones and the advantages of payroll outsourcing

With payroll managed in-house, it is difficult to keep employees from mingling with the payroll staff and sneak away with insider information. Organizations create special secure zones for payroll processing, but find it difficult to restrict the distribution of sensitive payroll information. This creates significant rift in employees and HR teams have a tough time doing re-conciliation of salary data.

Payroll outsourcing eliminates this problem in totality. With payroll being managed, at a completely remote location, and by a team that is no way connected to the employees, leaks in confidential data are almost eliminated.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records. Apart from confidentiality, Paysquare does offer a host of other benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

Does payroll software help in solving your payroll challenges? Time to think about professional managed payroll services

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A lot of HR teams within organizations feel that automation and tools are the eternal answers that will help solve all the payroll problems. Companies invest in purchase of payroll software only to realize that their challenges get multiplied instead of being solved by such a decision.  What are the reasons then and how do you fix these?

payroll software vs managed payroll services

payroll software vs managed payroll services

Software customization – The payroll software that you buy is usually generic. Most often, you will need to customize it to meet your requirements. Your vendor may do some tweaking, to achieve the sale, but may not necessarily support the ongoing customization requirements subsequently.  This creates the requirements for developing customizing resources in-house. (which may not be such a good idea?)

Updates & Upgrade path – Most software vendors will provide you with updates free as a part of their first year AMC. You will need to pay for these updates from the 2nd year. Any unauthorized customizations will create problems for auto-updates and will need support from the vendor (at what price?). The product will soon be launched in a newer version and you may need to upgrade your version to continue meeting your requirements. Have you considered these update and upgrade issues while making your software purchase?

Changes in HR rules & policies – HR  Rules and policies change so often, how can you manage to keep configuring them in the software. Typically users will be accounting professionals and you will need to go back to the vendor to do these additional configurations in the software.

Paysquare has been focused on payroll outsourcing for over a decade now. With payroll outsourcing/ professional managed payroll services, the software comes to you free, as long as you continue to use our services. You do not need to worry about maintenance, updates, upgrades, customization or configuration. Our professionals will take care of you so that you can continue to focus on your business. Now isn’t that music to your ears?

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com | Twitter – @PaysquareIndia

The hidden costs in payroll & the adv of payroll outsourcing

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Do you know how much your organization is really spending on payroll processing? You may not be considering all the “hidden” costs, and as a result, may be spending much more than you think.

Hidden costs in payroll & advantages of payroll outsourcing

Hidden costs in payroll & advantages of payroll outsourcing

It is usually easy for organizations to identify visible costs such as manpower and technology acquisition, but there is certainly more to it than meets the naked eye. The cost of operating and integrating the different functions within drives up administration costs. Here are some of the hidden costs that you should consider:

Manpower – Apart from direct salary costs, senior executives are involved in training and driving the process culture for the teams involved. These costs are often overlooked. Also attrition causes a lot of problems and all the training needs to be provided all over again.

Technology – Buying technology is one-time cost, but maintaining it for your business is an ongoing running cost. Doing frequent customizations consumes a lot of bandwidth and cost. In most companies, this may not be possible to do in-house as well. Even technology acquisition is not a one-time cost, as technology becomes outdated over time. Organizations need to spend money on upgrades or moving to newer & better technology products.

Infrastructure – Uptime of critical systems need to be maintained. Also due to confidentiality reasons, the hardware used may need to be dedicated to payroll. To comply with statutory regulations, companies also need to maintain back-ups of data for specific period of time. All of this involves cost, and bandwidth.

Paysquare has been focused on payroll outsourcing for over a decade now. With managed payroll services from Paysquare, you no longer need to maintain manpower, technology, hardware, back-ups etc. We take care of all of that as a part of the engagement. Now isn’t that music to your ears?

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Aditya

sales@paysquare.com

Twitter – @PaysquareIndia