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Planning to Switch Payroll Provider…Are You Prepared??
Getting problem managing payrolls with your existing payroll system?
Maybe it’s time you need to switch!
However, it may sound easy to make a switch, but it’s not a cakewalk to shift your entire employee data to an all new system. You need to consider a lot of factors before making the decision.
The foremost question is: Why you need a new system?
Is your current vendor not able to act fully as per your needs?
Here’s a list of preliminaries that you need to consider while planning to get a new system:
What is it that bothers you most??..
—Or is the system so complex that it takes multiple rounds of training to get the system up and running!
—They have less experience and you don’t have any reviews about the company and services
—Is the system available as desktop software, or is a web-based application that is administered by the service provider?
—The kind of customer service and support they offer: are you satisfied with it?
—When they on-boarded you as a client, was the process tedious and slow? Did they take longer time to on-board you?
—Is the payroll processing quick and fast?
—Does it offer the employee self-service feature? Do they provide proper staff training to help employees understand the system?
—Is the system updated with latest government tax laws and other provisions?
—Are the reports accurate and easy to understand?
You can easily cross check your current system on these grounds and if you are still convinced that you need a new system, move on to next and most important question:
Is it the right time to switch?
This is the most important question you to need to ask yourself. Apparently, the best time is the end of quarter or the beginning of a new fiscal year. In India, usually every company begins its financial year from April, so its time when you need to start planning about a switch, so that you are ready with a new system at the start of new fiscal year!
By the time, you can update your employee data and information and take back up with your existing system, so that it becomes easier to transfer the data from old to new system.
Now, what you need to look for in a new payroll provider is well-known to you! However, the technical features you can look for, other concerns revolve around costs, efficiency and how well the system can integrate with your in-built systems.
Start looking for a system that can not only ease you out in these aspects, but can relieve you from administrative and data security burdens letting you focus on other business areas.