Do you want to convert to another payroll provider, yet you’re hesitant to make some changes? Perhaps you are concerned that the process is time consuming with the issues including missed payroll periods and data errors. The most effective and successful payroll conversion has a streamlined conversion process, which meets the company’s unique needs while reducing the amount of the work needed to get started. Once you are ready to make your switch, here are some of the things you have to take for consideration when picking a payroll provider.
Unifying Your Payroll with Time Tracking and HR
Whenever you consider a conversion, it is essential that you look at whether your payroll system is unified with time and attendance and core HR. Once core HR, time tracking data, and payroll are stored in the centralized database, it give numerous benefits such as increased visibility into the company metrics and trends, reduced labor costs, get rid of duplicated data entry, minimized payroll errors, and good user flexibility.
Timing of the Payroll Conversion
Deciding whenever to implement new payroll solution is essential. If you’re considering mid-year conversion, the second quarter is a good time to begin the process. Another choice is converting at the end of the year. The perfect time to start year-end conversion is October so this does not conflict with year-end processing you have to handle. Regardless of the time of the year you have chosen, the streamlined implementation process can ensure smooth transition.
Data Integration Capabilities
A lot of companies have some existing business investments for advantages including general ledger software, retirement packages, and POS systems. The ability in integrating such existing systems with online payroll system is a big benefit as all data is updated and accurate.
Payroll Tax Compliance Management
The rules in payroll compliance tax changes constantly and it is important to use a payroll provider with the department of tax compliance that would manage such updates. When the conversion is complete, tax compliance team must update your payroll tax table every year including state, local, and federal tax payments and filings. With the best payroll provider, you will have a tax compliance team of professionals who will review the existing data when checking for any particular payroll tax errors.
An essential step of the process of conversion is basically migrating the company data out of the old system and in the new system accurately. With a payroll provider, it can be done easily.
Another essential factor you have to take for consideration during payroll conversion is the customer support level that’s provided. You must feel confident in knowing that customer support member is available in ensuring a successful and effective partnership with payroll provider. Consider some payroll providers who assign several dedicated account managers and trainers. Your trainer must also make a training plan to meet unique deployment requirements.
The Bottom Line
When implementing and choosing new payroll software, there are some factors that you have to take for consideration for you to ensure effective ad successful conversion.