Are you tired of your outdated payroll software? Or having to manually keeping up with compliances? Solution–It’s time to transition. At Paybooks we have got you covered. But don’t worry, we will make it easier by listing down a brief yet detailed guide of how the transition works.
Steps to Transition to a Payroll Outsourcing company
Assessing your Needs and Objectives
The first step would be to understand certain factors that include the frequency of your company’s payroll process, compliance, while taking into consideration the governments regulations, and the complexities of your payroll.
Choosing the Right Payroll Outsourcing company
It is vital that you do your research before deciding on an outsourcing company. The key factors to look for in an outsource payroll company are it’s reviews based on other users who have used their services for a considerable duration. How long has the provider been in the market, this will give you an idea of their experience. What technology does the provider you are looking at use? Is it compliant with your company and its policies? Is their software scalable with your business in the long term? And most importantly– how good is their customer service?
Transparency in Communication
As a company, you have to make sure your employees are well informed about the outsource provider and the transition your company will undergo. There has to be a key employee appointed within your company to ensure issues and queries are addressed promptly. At paybooks, we thrive on transparency in communication while also ensuring that there are regular updates provided on every situation that demands.
Planning the Transition
As you must be aware, switching to an outsource company is not an overnight process. A mandatory process must be followed which includes but is not limited to securing a timeline during which the transition will take. Assigning duties to the inner and external group individuals that will ensure tasks are delegated and streamlined to ensure a smooth transition. Verifying the auditing statics before transferring to a new system. Streamline your HR & Payroll processes with Paybooks now!
Securing Employee Data
The data being mitigated will include sensitive information like salaries and tax information of your employees. You must ensure that the outsourced payroll company has a data encrypted software that can be accessed with personnel that would have the authorization to access.
Integrating Payroll with Other Systems
To ensure, your company has a very seamless operation, you can combine your payroll system with your existing systems that would include the HR software for worker management, Systems that monitor time to ensure accurate payroll processing, Accounting software for monetary reporting and compliance. The integration allows an easily flow, that will not only save time but reduce manual related errors.
Testing the new System
Once the first stage of transition is complete, it is important to conduct a thorough test by running payrolls for a duration one or two cycles before you completely transition and settle into the new system. This will help you tackle with any discrepancies’ that arise early on, and compare the outcomes with your current system.
Training Employees
Proper training for your employees is a very crucial step to ensure there is a smooth transition. Ask the HR and finance teams for a regular update and feedback on how comfortable they are with the new techniques and tools provided by the payroll outsource company. A good outsource company will ensure to provide education sessions, personal publication and an effective customer service to help your staff.
Monitor Compliance
One of the major reasons a company transitions to an outsource payroll would be for compliance purposes, however, it is vital that you—on your end– stay up to date on the tax laws and policies. You must regularly seek confirmation on if the tax filling and billings are accurately completed on time.
Gather Feedback
Once the transition is complete, keep an eye out for how effective the implementation has been. You have to stay open to the feedback from your employees and stakeholders to avoid mistakes, and keep improving in compliance.
One must note that there are several benefits to Payroll Outsourcing.
- You free up your company’s internal sources for strategic responsibilities.
- You reduce fees related payroll mistakes.
- You stay up to date with the current policies.
- And last but not least, your employees are satisfied!
How Paybooks can help with the Transition!
At Paybooks, we specialize in helping businesses such as yourselves to transition from an in house payroll system to an outsourced solution with minimal disruptions.
Here are a few key factors to take away!
- We provide tailored consultation by understanding your companies payroll needs and ensuring our services align with your business.
- Our system is encrypted, ensuring that sensitive data of your employees are transferred quickly and efficiently in full compliance and regulation.
- Our payroll software can efficiently integrate with your existing HR and time management tools, which ensures consistency and automation of data input.
- At Paybooks, we take pride in proving a comprehensive training for your staff to ensure that they are comfortable with the new system. However, our support team is available at all time to answers queries and resolve issues.
- We are up to date with the compliance and tax laws, and have ensured our software is consistently up to date the with the same.
- At paybooks, we are always looking to scale. So if you are a small company looking to grow, or a larger organisation looking to scale, our services are flexible enough to meet your requirements!
- We offer regular audits to ensure payroll accuracy and compliance—it is our way of ensuring that your mind is at ease and you have your payroll in the hands of an expert!
By Partnering with Paybooks, you gain access to an outsourced payroll solution that is not only reliable and efficient, but is smartly designed to support your business’s long term goals.
