Running Payroll Yourself Can Be Risky- Trust PaySquare

Even the most experienced and meticulous business owner finds that payroll can be a headache. Slap on a stiff penalty for the tax filing omission, and now we are talking about full blown financial induced migraine.

For many businesses, outsourcing payroll services offer attractive and valuable insights to in-house processing. If chosen correctly, they offer a less expensive, simpler means of paying your employees, filing your taxes and performing a host of other duties these companies sales representatives cannot wait to tell you about.

Payroll being an important function for any organization requires specialization and a clear understanding of applicable laws in processing the payroll of the employees. PaySquare’s dedicated team of experienced professionals with extensive knowledge of methods relating to payroll processing can offer you full-fledged payroll services for your all employees and top management.

Describe the business

For over 14 years, Paysquare has been focused on simplifying payroll and offering exemplary services in payroll outsourcing and related compliance matters to its clients spread across various regions. Paysquare, an ISO 27001 as well as ISAE 3402 – SSAE 16 certified company headquartered in Pune with its presence in major cities like Mumbai, Bangalore, Hyderabad and Mysore.

Paysquare is proud to be serving 450+ clients across India and a few international locations. Currently Paysquare processes over 1, 50,000 payroll records every month.

What kind of clients/industry you have been working in the last 6 months?

 We have been servicing clients across various industry segments like manufacturing, IT and ITES, automobile, education, hotel, pharmaceutical etc.

What makes your products or services excellent? You can list few USPs

 The main characteristic of Paysquare which differentiates it from other payroll companies is our ability to simplify payroll operations. Whether it’s a start up or large organization with presence across multiple cities we make payroll management easy for each one of them.

Few of our USPs

• Impeccable service and excellent client relationships
• Highly customizable and robust ‘Precision’ software platform
• Highly adjustable to various/complex payroll requirements
• Self-service tool ‘myPayroll’ to maintain transparency throughout the organization

What were the business hurdles when you started the company, and how did you improve the turnover?

Paysquare’s’ journey started 15 years ago with a small team operating from a small set up.

As every start up faces different challenges we also faced almost the same challenges while we were moving ahead but we always saw the those hurdles as improvement opportunities.

At the start many of our processes were manual and labor intensive but later we invested in technology and bought automation which increased our payroll efficiency.

With the technology we were able to manage complex payroll requirements of our clients as well. Our robust payroll engine ‘Precision’ and online payroll portal ‘myPayroll’ started getting us industry accolades and acknowledgement.

The organization has seen sea changes in functions, systems and processes which impacted very positively. It has been backed with a strong technological advancement which has taken the organization to new heights.

How did you transform your business from start-up to a successful one?

Taking a small business to the next level requires hard work, perseverance, great customer service and a good product or service. There is no specific turning point in Paysquare’s journey, at every point of time we are only thinking of continuously reinventing/ improving our services, bringing in best practices, advanced technology continue to drive efficient payroll for our clients.

For any business to succeed first you must realize you can’t do it on your own; you need a good team around you. Since inception Paysquare always believed in team work. We work in team & nurture our talent so they can also excel in their career. And having a team to manage tasks always freed up management to focus on business growth.

Describe why this company is the best example of business excellence. Do mention if you engage in social activities/CSR as a part of your business. 

For every organization it is mandatory to have a well-managed and compliant payroll.

But the level of complexity in payroll management is different for different companies. Paysquare always worked with a motto to simplify payroll operations for its clients. The experience of working with clients across different industry segments and with different number of employees made us know every minute detail in payroll management. Over the 15 years we always pushed our limits in terms of technology, automation, process efficiency and customer service. Our sole focus to eliminate hassles in payroll management for our clients made us excel.

Have you made a positive impact within your industry? If yes, how?

 While looking back, we feel that Paysquare has made a huge difference in the payroll outsourcing industry. Our standards and consistency have inspired several other service providers and the industry has overall benefitted with better services offered by us.

Paysquare will continue bring in more and more innovations in payroll management and continue to excel. Paysquare is here to create and deliver lasting value.

 Do you offer a superior level of customer service? If yes, how?

 Our services are highly valued by the clients. As a testimony to the value that we deliver, I am happy to state that many of our clients have been with us for over five years now.

Payroll duties can create a huge burden and unwanted stress for the small business owners. A missed deadline or incorrect filing of the taxes can result in huge fines. To avoid these issues, small and medium sized businesses can benefit from using payroll services.

To contact Paysquare write to us on request@smejoinup.com

Image courtesy: Kijaccounting