answering services

With so many payroll solutions providers, choosing one becomes tricky. Here's how you can go about identifying the right provider. As always, there's nothing like good preparation and the ability to ask the right questions of your vendors.

By sound preparation, we mean that you should have all requirements defined clearly upfront. Understand the specific requirements of your payroll processing solution; and as part of requirements, anticipate the changes that may be coming up at least in the immediate short term. You don't want a solution that won't work a couple of months down the line because of some changes in the business. Ideally, the requirements should be written down in detail and the provider should guarantee that all those requirements will be met.

Understand costs - both hidden and direct: Whether you are opting for a managed service or a software solution, there are always processing charges that you may have to incur. Therefore, get a very clear understanding of all the costs applicable towards payroll processing, whether it be for updates to tax slabs or any support service provided. The pricing model may also vary from solution provider to solution provider--- for example, charges may be per period or per employee. Ask if the solution offered has additional charges for any of the optional features provided?

Accessories: Part of payroll processing entails things like printing of cheques and pay slips. Evaluate whether it is a better option to print these in-house or to get these done from a third party.

Vendor's track record: Get quotes from multiple vendors and ensure that all vendors are providing information on the same set of parameters so that you can make an apples-to-apples comparison. Take into account the companies that the vendor has served and obtain references from the company.