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Payroll Processing Companies – 5 Factors for the Right Program

Payroll Processing Companies – 5 Factors for the Right Program

On-paper HR management is dead and gone, but today many companies find themselves on the other end of the inefficiency spectrum: spending hours of in-house time and energy to process payroll information using clunky systems that bleed time and resources.   Payroll Services in the UK     Today, more businesses are making the switch to payroll processing companies to ensure accuracy and security, improve payroll processing speed, and ensure better metrics and oversight.

However, for many small and medium-sized businesses, making the switch can seem troublesome and even impossible, given the range of options available.

One factor that contributes to the problem is the variety: as more companies offer payroll processing outsourcing, more are also offering value-added “extras” to draw in new business. While these services often look attractive, they can also draw business owners into a deal with an inefficient company as easily as with an effective one – so, how to tell the difference?

Below is a list of the most popular features and business factors the best payroll processing services must offer before you can consider them good potential options.

Factor 1 – Access to Payroll Data

Payroll processing companies offer different levels of accessibility and control over information, and these options should match the goals and requirements of your organization and employees. Mobile access for cell phones can be a big plus if managers and HR personnel need to access payroll information on the go. Some companies even find it helpful to grant all of their employees’ mobile access to payroll information, as a way to help them review earnings from home and take those numbers into account when budgeting.

Factor 2 – Timekeeping Integration

The best payroll processing outsourcing software must integrate well with your existing time keeping software or time clock system, to help preserve continuity during the switch and minimize errors. Your business has no “pause” button for time clock changes, so this factor can be an important money-saver to help make the switch as quick and simple as possible. Look specifically for a system that can import employee work hour data exported from your current time system.

Factor 3 – Seamless Software Integration

Many smaller business use one system to track employee time, and another set of systems to analyze that data and incorporate it into higher-level accounting functions. Some outsourced payroll systems will integrate well with the first system, but resist easy integration with accounting software, creating a whole new set of time-wasting manual tasks for your company. Look for a system that integrates well with your existing accounting systems, or provides sophisticated output options that you can adjust easily to a format that meshes well with those systems.

Factor 4 – Up-to-Date Regulatory Compliance

This is a brief point, but an important one: good payroll software absolutely must meet the latest regulatory compliance requirements. Failure to adhere to federal and state payroll compliance requirements can result in hefty penalties and fines for your company, so a little extra attention on this point can save a great deal of money down the line. For similar reasons, also make sure to assess potential payroll processing companies for proper server security and data-backup safeguards.

Factor 5 – 24/7/365 Support

Let’s face it: no company wants to run into a situation where they need to review payroll information urgently and immediately, but if and when those situations do arise, responsive support teams are a must. From help with major changes to your company’s payroll requirements, to basic troubleshooting for access functions, a good service should provide prompt assistance that keeps your company’s problem-solving time to a minimum.

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