Top 10 Questions to Ask Before Selecting Payroll Service Provider for Your Business
The use of traditional payroll management systems is declining for good reasons. Now businesses are switching to payroll solutions as they are less receptive to complications and errors like the payroll solutions managed by hands.
However before you start your hunt for outsourcing payroll service providers, here are 10 questions that you need to ask to get the best fit for your company.
- What is Payroll Services?
Payroll services make it easy for small businesses to manage to streamline their businesses. Payroll helps to deposit employees’ salary directly to their accounts along the benefits of self access and many more. It covers all the work related to making their payments including incentives, salaries, bonuses and any other perks etc.
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2. Why Small Businesses Outsource Payroll Services?
Payroll includes Payroll Processing, Income Tax Compliance, Statutory Compliance, Provident Fund, Employee State Insurance, Reimbursements Processing, Query resolution, Accounting etc. It is better alternative because opting an in-house payroll functioning is a time killing, money destroying and tedious job especially for those enterprises who are in budding stage.
SME Joinup Will Tell You Everything that You Need To Know About Selecting Online Payroll Services Provider for Your Business
SME joinup is a right place to know everything about Payroll outsourcing including HRMS, Payroll Software, Statutory Compliance, HR Outsourcing and all related things.
3. Which outsourcing payroll service provider will suit your requirements?
There are abundant payroll service providing companies in the market that claims to offer different types of payroll services. But before you choose any of them it is important to understand which payroll tasks the selected company can handle as it is not necessary that the services offered fits well to your requirements. That’s why it’s good to identify your business requirements and then finalize a vendor that has everything that you require for your business from handling employee reporting to managing their earning and deductions account.
4. What is Subscription Fee?
As a small business enterprise, you always want to outsource payroll services to maintain your startup budget. Most of the payroll service providers charge affordable monthly subscription fee according to what services they offer to how many number of employees in your company.
It is important to ask how the company will recompense for bad service. Some but not all companies associated with SME charge Rs. 10000 minimum fees for payroll outsourcing. You can choose the one which cost you less per employee per month. You can also ask for free trials before continuing subscription.
5. What about your Data Security?
When you outsource a payroll service you should be confident about the security of your sensitive data as you will share your private accounting detail with the hired firm and sometimes it become critical to maintain the privacy of data which is on cloud.
6. How the company will handle Payroll Tax Process?
The selected payroll service provider company should be able to handle your payroll tax compliance needs correctly and efficiently. It should also be able to fulfill all state and federal payroll tax compliance. Also, clarify that the company will manage all this on their own or your involvement will always require.
7. What Additional Support provided By the Payroll service Provider Company?
What customer support the company will offer? As a customer you should have a number of expectations and queries from your payroll service providing company in the future and expect an effective customer support system from the company. If you are not aware about the technology and the process the company will follow, you should ask for support via phone, email, and chat etc.
Also, ask if they have any tutorials and other material to educate you. For example Top Source, a verified company claims to offer 24/7 customer support to its clients via its local support centres in the cities like Pune, Mumbai, Bangalore etc.
8. Apart from you who would have the rights to access the payroll data?
Sometime companies give access to the employees to access their full payroll information. Usually they get personal account to access their payroll information on main site. For example Paysquare Consultancy offer MYPAYROLL a web based feature that maintain the transparency to both employees and employer.
9. Are they flexible to meet your business requirements?
Being a new business, you sometime require adding and removing employees from your company account and your payroll services needs vary accordingly. So make sure that the hired company offers you opportunity to manage your account flexibly.
10. Who are their clients?
Customers can tell you more about the company. So ask about clients and find any of them whom you already know professionally. You can also check reviews before hiring a firm as this is one of the most efficient ways to know more about a company reputation.
Apart from these questions, also seek the answers for some other questions like:
- How often the company will share with you’re the reports about your clients?
- If the company will make any mistake, who will compensate?
- Are there any hidden charges or additional cost applied to any additional support?
- How you can keep the track of payroll transactions?
- Is the payroll software well-matched with your company’s existing accounting system?
Top Outsourcing Payroll Service Providers For Small Business at SME Joinup
Most of the companies associated with SME Joinup including Paysquare Consultancy, TopSource, Intero Solutions, Finsmart Solutions, Let’s Comply, Trust Solutions, Srijan Spectrum, Zenith India, HRMantra, Mapper Consulting, Obox HR Solutions, Treelife Consulting etc. deliver a plethora of customized payroll services and have a reputation to deliver effective results at cost effective prices. Some others just focus on limited Payroll Services, so to know more about online payroll services providers talk to SME Joinup team today, they will guide you well to find the perfect fit for your Small Business.
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