There can be many good reasons to change your company’s payroll process. Usually for saving money or adding convenience, but what it boils down to is if the payroll solution is meeting your needs. Changing how your payroll is processed however can be a daunting task, and there are a lot of things to consider. Between timing, evaluation, and security, there are many things to consider. Luckily Nazpay is here to help any employer considering making a switch from their old payroll service.
When making a transition to another payroll provider, timing is very important. Many companies find it much easier to make the transition at a specific time of year. At the end of the year, or after a quarter end makes a transition much smoother because it allows you to import employee demographic and setup data. Starting at square one when it comes to numbers makes things run a lot smoother when it comes time to do a W-2.
Early in the process of choosing a new payroll system, you should consider bringing together the people that can help you evaluate your options. All the departments should have a say in the payroll choosing process, as all of them are involved. This ensures that the needs of all the departments are accounted for.
Very sensitive employee data such as social security numbers and income statements are available to payroll processors. Nowadays with direct deposit being a common way of employee getting paid, even bank numbers are available. With such sensitive information available to whoever is handling the payroll next, security should be of paramount importance. This is one of the biggest reasons why security should be considered before choosing a payroll company.
In the past, employees were typically just handed a paycheck but with the advancement of technology new options have emerged. One of the more popular ones is direct deposit. Direct deposit not only benefits employees by allowing them to not need to go to the bank, but it also typically helps save an employer money. Direct deposit also is more secure, as there is no physical check to lose or steal.
Another important factor to consider is the quality of the customer support that is available. In person and technical support should be two issues that are given consideration. You should check to see if the payroll company holds any certifications or technical support. These certifications can be good indicators of the service that can be expected from a payroll company.
It is important to keep in mind the person who will be putting the service in place. The company you switch to should have the ability to implement the software into your company. If not, you should know whether or not your in house IT provider will be able to implement the product for you.
There are many things to consider when choosing a payroll service, and the choice is not an easy one. Planning for the change can help quite a bit. For any other help contact Nazpay for your payroll solutions.