How do employee self-service portals help in managing payroll issues

Traditionally, payroll functions within organizations operate 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 employee self-service 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.

employee self-service portal

employee self-service portal

With individual logins to the online employee self-service portals, 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,

Atul

sales@paysquare.com

Twitter @PaysquareIndia

Process driven approach – A must in payroll outsourcing

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

 

Handling confidentiality in payroll, think payroll outsourcing!

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

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

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

Why is domain knowledge important, when you are selecting your payroll outsourcing vendor

Different companies have varied requirements in payroll. for e.g. capabilities required to process payroll for knowledge workers may be very different than those required to process payroll for workers in a large manufacturing set-up. The heads in payroll will also vary significantly from company to company based on their HR policies and guidelines.

Domain knowledge needed in payroll outsourcing

Domain knowledge needed in payroll outsourcing

Challenges involved in these different kinds of payroll scenarios are very different and it makes sense to have a vendor, who not only understands these challenges, but has already managed them successfully in several similar past engagements.

When companies outsource payroll, they definitely do not want to be considered as training ground for managing their kind of payroll challenges.They always look for vendors that have past experience and domain knowledge for e.g. companies in IT sector will prefer to work with payroll outsourcing firms, which have already handled payroll in other IT companies. The prior experience helps in relating to the problems and issues in the IT domain.

Paysquare has been focused on the payroll outsourcing business exclusively for over a decade now. Through its engagements, over the years, it has strong domain knowledge in a large number of industries. In fact Paysquare has captured much of this domain knowledge in their back-end payroll engine ‘Precision’ . As a part of their managed payroll services engagements, Paysquare makes ‘Precision’ available to its clients FREE of cost.

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 importance of having a highly customizable payroll software in payroll processing

Payroll processing requirements at every organization are different. This could be due to different HR policies, different team structures, different pay structures, requirement for different types of MIS reports etc. To fulfill these varied requirements at different  companies, companies need to plan for a lot of customization on their payroll software. Also these are not one-time changes and these will change, based on change in policies or change in govt. regulations.

Customizable Payroll Engine

Customizable Payroll Engine

Running payroll manually is simply not possible, once you go beyond a certain number of employees. Automation is the key, but companies do not have the capability to invest in the software needed. Having invested in a software, they do not have the capabilities to customize the software based on changing requirements.

The ideal situation is to have an external vendor manage payroll and the necessary software related to it. With ‘Precision’, Paysquare is able to meet these requirements very well. Precision is the back-end payroll software that has been developed by Paysquare. It packs years of knowledge in payroll processing and enables Paysquare to automate the payroll processing to the extent possible. Also since it is developed in-house, it is possible to customize it to meet exact requirements of clients.

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

Enabling employees to access their digital payslips & tax information anytime, including archives

Running payroll and distributing physical payslips is a cumbersome task. These payslips are used by employees for meeting various requirements like applying for visa, applying for home loans/personal loans, Insurance applications etc. Not all employees are well organized and most employees end up losing track of their payslips, as they do not file it properly.

Digital payslips in web based logins

Requirement of digital payslips

In such cases, employees often reach their HR departments to get a new payslip issued. This is usually a cumbersome task for most HR departments, as they need to locate the data and re-print payslips for the employee. They also need to make sure that the employee has the right approval process in place, before the payslip is issued again to him.

From an employee point of view, he has to face a lot of frustration, as it often takes several days for him to get a duplicate payslip from the HR department. He fails to understand the intricacies involved.

In case organizations resort to digital payslips and these are made available to employees through web based portal logins, then most of these problems related to current payslips as well as old ones is solved. Employees are able to view their consolidated payslips anytime they wish. Whenever they need it, they can themselves access their payslips and print it.

Paysquare, with its web based  ‘myPayroll’ portal provides secure logins to employees. Through these logins, employees can directly go and view or print their payslips as and when required.

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

How employees making tax declarations through web based payroll helps in reducing payroll errors

One of the most important parts in payroll processing is tax computation for employees. This can get quite tricky, as excess tax deductions can result in several conflicts. Traditionally, all organizations ask their employees to make a declaration regarding their investments (to save tax).

online tax declaration using web based payroll software

online tax declaration using web based payroll

In most organizations, this process remains manual and paper based. When these inputs are being factored during  payroll processing, errors often creep in and effectively ruin the tax calculations made.

Wrong computation of taxes can lead to higher tax deductions and lesser net pay to employees. It is not an easy process to reverse this, as the employee then has to apply to the Income Tax department to request a refund of the excess payment.This can usually be a lengthy and time-consuming process.

Enabling employees to directly make declarations themselves regarding their investments seems to be the best approach. This ensures that there are no errors in data transfer or manual data entry. The employees also take full responsibility for the declaration that they have made. It is possible to log transactions made by the employee, so that there are no conflicts.

Paysquare, with its web based payroll ‘myPayroll’ provides secure logins to employees. Through these logins, employees can directly go and update their tax declarations at any time. Their latest declaration is always considered while processing payroll. This declaration can also be changed anytime and the impact of this reflects on the tax deductions in the following payroll cycle.

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

Importance of maintaining confidentiality in processing payroll

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.

 

maintaining confidentiality in payroll

maintaining confidentiality in payroll

Traditional approaches of distributing physical pay slips, while processing payroll are outdated and are very cumbersome for any organization. Payslips falling into wrong hands or getting lost is painful for the concerned employee.

Nowadays, organizations prefer to use digital payslips, made available in pdf formats. These are then either sent out to individual email IDs or made available through a self service web portal with a authenticated login. With logins, it is also easy for employees to view past pay slips & other related tax information.

Paysquare understands the importance of maintaining confidentiality and offers managed payroll services to clients. With its web based myPayroll accessible to employees through secure authenticated logins, organizations can be sure that there is no confidentiality breach. Employees can only view their date and help themselves with historical information related to their salary and taxes.

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