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:Â You have been operating with your own team thus far, so you have been using some system and have your own set of learningâ€™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 itsÂ managed payroll services.
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