Payroll Service Changing Providers. Chapter Two. What Should you Look for in a New Provider
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Payroll Service: Changing Providers
Chapter Two: What to Look for in a New Provider
When switching payroll outsourcing providers, what should a company consider? This is the second installment in a series about changing payroll providers.
Key Considerations:
* Service* Technology
* Professionalism
* Cost
* Location
Service
Does the new provider meet your specific needs? Don't just take their word for it?"ask for references from similar businesses. Smaller providers might not offer exact matches, but focus on how they deliver service. Connect with previous clients not provided as references for candid insights. Remember, not everyone can be pleased all the time.Technology
Is the provider current with payroll technology? Large providers may be slow to adopt changes due to scale, while smaller ones might lack funds for the latest technology. Aim for cutting-edge, not bleeding-edge technology. Key features to consider include paperless payroll, online access, payroll debit cards, and employee self-service, along with those specific to your needs.Professionalism
How established is the company? Ensure they're reputable and dependable with your tax deposits. Check if they're an EFTPS batch filer, indicating they manage tax deposits for at least 100 clients. Are qualified payroll professionals and CPAs available to address issues, especially IRS-related concerns? Without a CPA, IRS issues might require outsourcing, incurring extra costs.Cost
Determine the role cost plays in your decision. If all factors are equal, cost becomes crucial. However, opting for the cheapest option could result in outdated technology, errors, employee dissatisfaction, and additional CPA fees for IRS issues. Weigh these factors carefully. Review the cost section in Chapter One for insights on pricing strategies.Location
Location was once crucial, but technology has lessened its impact. With email and FedEx, proximity matters less. In a paperless, digital era, location is virtually irrelevant as everything is managed online and financially via electronic banking.Explore More
- Chapter One: Reasons to Change Providers- Chapter Three: The Transition Process
By focusing on these areas, you'll be better equipped to select a provider that aligns with your business needs.
You can find the original non-AI version of this article here: Payroll Service Changing Providers. Chapter Two. What Should you Look for in a New Provider .
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