A company needs to keep its employees happy, and nothing makes an employee more comfortable than getting paid on time but getting paid is not the only concern of an employee. The employee would want to get paid the correct amount and would also like to know that all the taxes have been deducted from the pay and they don’t have to do anything. Hiring a payroll service will not only help your company to manage the payroll properly but will also provide some of other services and features which will assist in the growth of the company. Here are the factors that need to be scrutinised before choosing a payroll service.
How to Choose a Payroll Service?
All payroll service providers are not the same. Before choosing a payroll service, certain factors that need to be checked. It is only after this scrutiny of the various service providers we can select a service that will be suitable for your business.
1.Ease of Use and Accessibility
A payroll service should be easy to use and understandable even by a layman. No company will devote its precious time on learning how to use all the feature of the service properly. Accessibility also plays a significant role in choosing a payroll service. With the arrival of smartphones and other handheld devices, the service providers have started offering dedicated apps which can be accessed from anywhere in the world. This would assist the management in keeping track of their payroll and making the necessary changes from anywhere.
There may be certain doubts in the mind of the management regarding the payroll service. The service provider should promptly answer such queries, or the company may face losses. There must be a provision of 24X7 customer support which should handle any query that the management has.
Each of the payroll servicing companies will provide you with a set of services some of which may or may not be required by your business. Before choosing a payroll service, all the different alternatives should be considered and the various features that are provided by the particular services should be listed. Some of the features which a payroll service should provide are direct deposits, paid-time-off management, workers’ compensation administration, etc.
As the employee payroll data consists of confidential and sensitive data, it is of paramount importance that the service provider has state of the art security measures in place. If this data gets into the wrong hands, then identity theft is a possible scenario. The payroll service provider that you choose must have the top of the line security measures like a secured website, servers in various place to reduce chances of data theft and other redundancies in cases of emergencies.
The payroll service should also have the ability to integrate with any attendance or accounting software that is being utilized by your company. This would help to transfer the data seamlessly and would assist in the better analysis of data. Software Integration is one of the things that are overlooked while choosing a payroll service.
6.Former Track Record
All the previous achievements of the service provider should be looked into before hiring the payroll service. A proven track record will assure you that the company will be able to handle the payroll of the company properly.
7.The Cost to the Company
This is one of the most basic but crucial factors in deciding a payroll service provider. All business requires services that won’t hamper the budget of the company. The provider should be flexible enough to provide you with bundles of services on a requirement basis. The provider should also be able to offer time-bound contracts such as monthly or quarterly.
Selecting a proper payroll outsourcing service will save both time and resources of a company by providing adequate and accurate payroll services and leaving you free to concentrate on the development of the business. The extra time could also be utilized in the proper planning of the company’s future. After the formation of the company, availing the payroll services can be very beneficial to your company.
JAXA is one of the reputed CA firms in Dubai which would take care of all your business-related problems. It also provides various other services which would help in the uninhibited growth of the company. For more details on the services we offer do contact us, we would be happy to help.