Choosing the right payroll solutions provider is an important decision that will impact your business long-term. Here are a few things to remember when you narrow your search for the best option for your business.
Ultimately, the right payroll solution will align with your core needs. It should be scalable, easy to use, and affordable.
Identify Your Core Needs
Before choosing the right payroll solutions provider for your company, you must identify your core needs. These needs will guide your search and help ensure that the solution meets your business needs and is easy to use.
Your core needs are the primary driver that drives your emotions and interactions in every area of life. Understanding these needs will enable you to take charge of your feelings and build a strong foundation for healthy relationships.
Certainty and variety are the first two of your six core needs – if you have an imbalance in these, you may experience boredom or crave adventure. Significance and connection/love are the other two of your six core needs – a lack of importance or love may inhibit you from developing intimate and loving relationships.
Regardless of the size of your business—one person or 100—you must select a payroll provider that can accommodate your needs. To automate the process and save time on manual record-keeping, ensure the service interacts with your accounting program and other business systems.
If you require assistance, you should be able to contact customer service via phone, email, or chat. Payroll services that provide this, such as ADP payroll solutions, are worth considering because they are more likely to respond swiftly to your needs and deliver a great user experience.
Look for a Solution That's Designed to Grow With Your Company
Choosing the right payroll solution is critical to keeping your business running smoothly. A poorly chosen solution can create headaches for everyone involved.
A scalable payroll system designed to grow with your company is a great way to reduce the time and cost of managing your employee payroll. This will free up your team's time to work on other business aspects requiring greater attention.
Payroll software can be cloud-based or on-premises and should integrate seamlessly with other systems, including HR software, time-tracking tools, or human resources information systems (HRIS). A good payroll provider will automatically generate reports, track payroll data over time, and provide detailed tax filings and quarterly reports.
Choosing the right payroll provider can also minimize compliance risk, saving your business time and money in the long run. Be sure to ask about services, such as automatic tax filing and distribution of employee W2s and 1099s. The provider you choose should also offer high-quality customer support, preferably with experts to help answer your questions.
Look for a Solution That's Easy to Use
Although payroll is a crucial component of operating any business, it can also be a tiresome and time-consuming chore. Picking a payroll system that is simple to use is essential because of this.
First, ensure the system is easy to configure without coding or IT involvement. It should be intuitive and provide step-by-step instructions for nontechnical staff to create reports and change data.
Second, you should choose a compatible, flexible system to grow your company. It integrates natively with your other core business systems, including time and labor, compensation, and financial management.
Third, you should select a system that offers deep visibility into employee activity and performance. This can help you streamline talent and workplace management, budgeting, and other strategic processes.
Fourth, you should find a secure solution to protect sensitive employee information from malicious attacks. Look for rules-based and role-based validation that ensures only authorized personnel can access sensitive data.
A sound payroll system can eliminate errors, mainly when calculating salaries, taxes, and pay deductions. It also makes it easier for small business owners to comply with tax regulations and deadlines. Ensuring accurate and timely payments can save you significant time and money.
Look for a Solution That's Affordable
One of the most expensive parts of running a small business is payroll. Payroll processing manually can be difficult and time-consuming, especially if several tax calculations are involved. This allows room for mistakes that could lead to hefty IRS fines.
To avoid these problems, many companies use a payroll service that mitigates errors and saves time by automating some processes. These services offer flexible pricing options, such as a per-payroll-run or monthly fee.
Some providers also offer different tiers, making adding additional features easier if your company grows. This feature set can include things like employee self-service, garnishment payments, workers' compensation administration, and detailed paycheck records.
In addition to being affordable, the solution you choose should be reliable and easy to use. It should integrate well with other core systems, including time and attendance, compensation, financial management, and absence management.
Payroll software is available for businesses of all sizes, so choosing a system suited to your needs is essential. The best solution will be able to meet your needs in the short term and grow with you over time.
