5 Key Factors to Consider When Switching Payroll Services
Payroll is a very important aspect of nearly every business, so choosing the best payroll services is imperative. Running payroll is not only about ensuring employees get compensated, but also about making sure their hours are accurate and that the company is staying compliant. There are a wide variety of payroll services out there, so I would like to give you some information that can help you make the best decision.
Research Different Kinds of Payroll Services
There are many different ways of running payroll. Some small businesses decide to do it in-house, but they don’t realize the time they are wasting when they could be focusing on other, more important tasks. Also, the individual who is in charge of running payroll must be educated and up-to-date on employee laws, salary rules, tax compliance, etc. One of the pros of going with this option is that you don’t need to disclose your company’s or employee’s information with anyone. Additionally, this method can be cheaper in the short run. However, just because you’re saving money by not paying a provider for your payroll doesn’t mean you’re not losing it after you consider lost productivity and fees and penalties that come along with filing taxes on your own.
Another way to run payroll is by going with a CPA. Certified Public Accountants are licensed to deliver accounting, tax, and financial help to businesses on a paid basis. In this case, a CPA would run payroll for the company and prepare any other reports they should need. CPAs also review all the financial information for the company and make sure that they are staying compliant. If a company decides to go with this option, they need to do their research and make sure they are trusted and experienced. This is because they will be handling very important and sensitive information about the not only the employees but also the company.
Finally, the last option is to use a cloud-based payroll software. There are many payroll services out there, so doing your research is important in order to make the best decision possible. Watch demos of the company’s software, and even consider requesting a personalized demo so you can get all of your questions answered in a one-on-one environment. It also doesn’t hurt to compare quotes right off the bat to make sure the pricing is even within your budget. Going with this option is probably the best thing a company can do because they will have a team of experts at their disposal. Going with a payroll service will protect you from any penalties from the IRS and will ultimately save you the stress and time of having to manually run payroll. Depending on the payroll service you decide to go with, you can often find other features added such as time and attendance software, applicant tracking, benefits administration, and other features at a low price. If you go with a cloud-based payroll service Dominion, you will be able to manage and monitor all payroll details from anywhere with internet access.
Make Sure the Software is User-Friendly
Even if you have an intelligent, capable person processing your payroll, you have to make sure that the software you choose is easy to use. This is because you cannot ensure that this person will stay with your company forever, therefore, if you have an easy to use software, anyone will be able to learn it quickly and you will not have to undergo arduous training for each person who will take over that role. Typically, payroll providers will offer free demos or 30-day trials, so it’s a really good idea to take advantage of those options. By doing this you can see exactly how the software works and if you could be able to use it without extensive training.
Running payroll should not be a hassle. You should not have to spend hours every time you run a payroll when you have way more important things to do. Having a payroll software means having convenience and peace of mind. By having a cloud-based payroll software, you will be able to run your payroll from anywhere with internet access in a matter of minutes.
Ask Questions About the Installation Process
If you are currently using a paper-based payroll system over a cloud-based software, you will have to transfer all that information into your system one way or another. This transition should be seamless and quick. When doing your research, ask how long this process will take and if there are any fees that you should be aware of. Additionally, be wary of whether or not are contracts involved. If so, inquire as to the reason. Sometimes it’s simply because the implementation process is too long and complex to have the client turn around and leave a year later. However, the company should be confident enough in their software’s capabilities that people will want to stay and don’t have to worry about forcing them to.
Read Reviews and Request Referrals
It’s always a good idea to look into whether the clients of your potential payroll software company are happy. You can usually find this information by doing a simple google search. Other ways you can do this are by asking for references from the sales person you’re interacting with or reading some case studies. If someone has referred you to a certain payroll service, then you already have some good insight on how the software has helped their business. No payroll service provider is perfect, some lack quality customer service, others don’t provide adequate training, while others may blast you with emails every day. Keep in mind, however, that a payroll software that is perfect for one company may not be perfect for all. Before choosing a provider, make sure that you know what you are getting yourself into and ask for a variety of resource to get different perspectives.
Consider Customer Service a Top Priority
With so many payroll providers to choose from, your best bet is to narrow down your priorities to price, ease of use, and customer service. Some providers are very large, well-known companies, while others are smaller and hardly known (though they may be just as good). Keep in mind that the bigger the company is, the more clients they will have.These clients, just like you, will have questions and problems that need to be addressed. You need to make sure that you are able to get the answers you need, exactly when you need them. At Dominion, we average a 25 second response time on our live chat and a two-minute maximum hold, so help is never far away. For those local to Michigan, Dominion is based in Grand Rapids and has a satellite office in the Detroit area, so we can have a representative in your office in a few hours max.
There are many more factors to consider before choosing a payroll service provider, and making the wrong decision could set your company back a ways. Make a list of what you’re looking to get out of a payroll software and make sure you ask all the questions you have. The more educated you are, the easier it will be for you to make a decision.
Interested in seeing if Dominion is right for you? Request a Demo below!
