Payroll is the heart and soul of business, so it is important to make sure you’re using the best tools possible. If you’re considering shopping payroll providers you need to map out a plan before you dive right in. Not only do you need to figure out what it is you want and need out of the software, but things such as timeline, pay frequency, and so on will need to be ironed out as well.
Know Your Transition Timeline
Those who are well-versed in payroll and working with payroll providers already know things cannot be changed in an instant. If you’re new to this process that is ok, but you should know a transition in payroll takes time so don’t rush it. There are two things that go into setting a realistic transition timeline; your company size and other conversions happening at that time. Occasionally I will have companies reach out to me that want to begin payroll with Dominion the following week. This is just not realistic due to the amount of information we need in order to accurately install a new client. With that in mind, set a timeline that is both comfortable for you and your potential provider.
Know Your Needs
If you have several locations that will require access to the software or you have multiple employees who work for home, you might want to shift your focus solely to a cloud-based software. If you are a smaller office and only plan on processing payroll from one computer then you can look further into an installed software solution for your payroll. How you use the software will greatly narrow the providers that would work well for you. As I mentioned earlier, if you have remote employees who will need access, a cloud-based platform would work much better because it allows connectivity from anywhere with an internet connection. If you only need one person to have access, it might be more affordable for you to look at an installed software package.
Limit Your Payroll Provider Options
You will want to reach out to multiple providers so you can make a well informed decision. However I do not recommend involving too many companies in this process. In my experience, three is a good number to stick with. Having three different payroll providers allows you to see what everyone has to offer and allows you to use your ‘due diligence’ without muddying the mix with too many providers. Involving any more than three providers in your process gets confusing and becomes hard to remember who offers which features.
Currently shopping payroll? Request a demo and see what Dominion can do for your business.