Payroll processing is the core of any business. If you aren’t paying your workers, you might soon find yourself without a business. As companies grow, payroll becomes tougher to handle which most likely puts unwanted stress on the company. At this point you might want to consider outsourcing your payroll, however before you do, you need to be mindful when finding the right payroll outsourcing partner.
Here are some questions you should be ask your potential payroll outsourcing partner:
What specific payroll services do you provide?
There are tons of cloud-based payroll outsourcing services to choose from. To choose a partner that is a strong fit for your company, identify your specific payroll requirements and sign up with a payroll outsourcing partner that delivers everything you need.
Will I be in control of my payroll?
You should absolutely have full control of your payroll. You should be given monthly payroll and statutory reports, either delivered to you or a 24-hour access through an online portal, which should be made available to you with the latest required information.
What about confidentiality?
You should be assured of total confidentiality through the process of deliveries. Your payroll partner should offer personalised service by providing you with one regular contact with an escalated contact, when necessary. All payroll related information should only be directed through your designated authorised payroll representative. Their payroll team should be duly bonded by a Non- Disclosure Agreement, which is issued at the point of partnering with them.
How much of a change will this mean to my operations?
You should not have to change your way of doing business. Your payroll outsourcing partner should work around the processes you prefer, whether you use spreadsheets or online data entry. Your payroll should be using a system to accommodate your needs and give you total control, 24/7.
How will I know if my payroll will be processed accurately?
Any payroll vendor that you are interested in working with should assure you that there should be at least three stages of checking procedures by different team members through an escalation process, to ensure that your payroll is not only processed accurately but to identify any significant or abnormal changes in your payroll. Their consultants are required to be well trained with deep knowledge of statutory and tax obligations
How will I get set up?
Once you sign up with your payroll outsourcing partner, you should be able to immediately log in to your user dashboard, configure your account, and add employees and users. You should also have the ability to access your account and run payroll from any internet-enabled device, including your laptop, tablet or smartphone.
Do you have an exit strategy?
Before signing on with an outsourced payroll partner, you need to protect yourself and your company by clearly understanding and working out an exit strategy. There have been cases in the past where a business has had a hard time getting out of an agreement. In the event you decide to bring your payroll back in-house or change providers, you need to ensure in your agreement a smooth transition follows which would allow your current payroll outsourcing provider to hand over the keys to your payroll manager so that you can continue processing.
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