Things to Consider When Choosing the Best Cloud Payroll Provider
Before identifying the things that you need to consider when it comes to choosing the best cloud payroll provider, you may want to know the benefits that you can expect out of this service.
Are you looking for cloud payroll provider to finally take care of your business payroll needs? If so, you are doing the right thing. Any business owner should invest some time in making research in order to make the best business decision, one that meets the needs and the culture of your company. You would definitely want a cloud payroll provider who has the capacity to streamline your efforts while delivering results fast.
Before identifying the things that you need to consider when it comes to choosing the best cloud payroll provider, you may want to know the benefits that you can expect out of this service. Here are some of them:
Cloud payroll services are automated, that’s a given fact. This means that these services do the work for you. They also make sure that you stay up-to-date with the required reports and continuous processing needs. On top of that, these services typically include self-service features for your employees to use, allowing them to do their own on-boarding and upkeep. This cuts the cost and time usually spent by a payroll manager who does these things.
These days, most payroll systems cost less compared to hiring an actual and full-time bookkeeper.
When using a cloud payroll system, you can enjoy accessibility of information, as they are readily available anytime and anywhere. This also means that you can get hold of the data you need right from your mobile devices, without having to login at your desktop computer.
Cloud payroll services, as mentioned, make good use of automate software which reduces the possibility of making errors, which is typical of a manual process performed by a human. This is a very important factor to consider given that payroll can get really complicated. With an automated service process, you can be confident that accurate information will minimize risk for issues including tax non-compliance.
Now that you are fully aware of the reasons why making a move to the cloud is the best decision you can have at this point, it is now time for you to consider some things that will allow you to come up with the best provider for your needs.
Know What Providers Offer
When looking for a cloud payroll provider, you definitely need to start by knowing the services that these different providers offer. After all, with the number of options out there, providers usually offer something unique which is not offered by their competition. If you have already come up with a list of your company’s needs, you can them make a good comparison of what you need and what a potential provider promises to offer. See if there is one that offers the right fit.
Among the most “common” and “standard” services offered by a cloud payroll provider may include the following:
Real time applications
With this service, you have the ability to exactly know what each employee in your team is doing, and how much they are paid for it.
Continuous payroll processing
You can expect to run payroll automatically, calculating the amount that every employee earned during the pay period. This payroll data can be accessed at any time.
Most payroll providers print pay cheques. A good provider, however, offers services for direct deposit in order to deposit pay cheques directly into the back account of the employee. This will save you from the hassle involved in printing, furnishing and stuffing cheques. As a bonus, it also saves paper too.
Identify the Questions You Need to Ask
At this point, you already have an idea of what services and features to look for in a cloud payroll provider. Next, you can take the time to interview your prospect provider. This will make sure that you can get everything that you need from your selected provider.
For one, you may inquire about services that are included in the program or software. Should you be expecting a standalone payroll service, or does the service also include some HR functions? This will enable you to determine earlier on what you are paying for.
You may also want to learn which payroll taxes are included in the service provided. After all, this specific aspect eats up a huge portion of the job. For this, you can also create a list of the tax services that your company needs. Identify which ones are included in the offer, and if there is a possibility for any option on customization, or other add-ons.
Also, you would want to know regarding the pricing structure that you can expect. These days, many cloud-based services offer subscriptions monthly for a specific, flat-free. Extra fees for additional service levels may also be expected. Most vendors also offer a price-per-employee pricing structure.
Security of Service
Despite the fact that you are using an automated cloud service, which is considered as a highly secure form of platform, you would want to know how the provider will store your data. After all, payroll needs handling confidential information. As a business owner, it is very important to ensure that data is secure and safe. With this, you may want to learn about the provider’s SSL certificates, encryption standards as well as specific authentication steps.
Identify Your Needs
Even before going through the items already mentioned above, it is still best to make sure that you have already identified the needs of your organization. In this way, when you get the chance to discuss your options with various providers, you already have an idea of the questions that you need to ask them, as well as the answers that you need to look for.
At this point, having an open mind is very important, especially when it comes to options that you may not have considered before, but could actually be advantageous for your business. Make sure that you are well familiar with your company first before learning more of the things that a payroll provider can offer you.