Switching Your Payroll Vendor – A quick Checklist
In a business, a change can always happen. Anytime a change happens, you may feel the effect and it is all but natural also. Switching payroll vendor is no exception. Payroll process should be error-free and always compliant with the norms of the government. This is one of the major reasons why businesses opt for Payroll Outsourcing and focus better on its growth. However, getting the thing wrong can result in administrative nightmare or worse – hence you may follow these certain steps to cover all your bases as you make the switch. This will help you to have a smooth walkover or an easy transition.
Inform or notify your current Payroll Vendor
Most payroll Companies in India would ask for a 30 day notice. In case you are using a SaaS solution (cloud based or online); you may be able to cancel the subscription right away. It is very important to provide the required amount of notice to your current payroll vendor.
Conduct Your Own Research
Conduct a thorough research of good payroll service providers in the market. You may review the CRA’s compilation of third-party service providers, to find out the legitimacy and trust behind them. Check the credentials of each payroll vendor by looking into their client’s testimonials and the customer reviews. You can get in touch via your contacts at the companies to gather some fruitful information on what their customer experience was like. These all procedures will help you to select the right payroll service provider, and this will in turn help you to fetch the best value for your investment.
Consider Your Payroll Needs
You must identify your current pain points before you switch over to a new payroll vendor. Your new payroll vendor should identify your issues and delivers what you need according to your preferences. Gather insight on their services through consultations and live demo. You must consider how payroll service providers can meet your various needs, such as payroll reports, submission of important forms, Management of updates and changes to regulatory compliance, protection of sensitive data and perhaps an HRIS in addition to the normal hr payroll services.
Transfer of Important products and documents
Before officially parting ways with your soon-to-be past payroll vendor, you need to request access and gather copies of important documents. Also you may need to send all the payroll records to your new payroll vendor. The vendor should have the right information about what you need to migrate over to start the new hr payroll services. Generally these include CRA-ISSUED business number, employee information, past pay stubs for all staff, a void cheque for payroll processing, payroll register reports, and ROEs. Always remember that a good payroll system is an important investment to make in your company.
Make use of their customer support service
The payroll service provider’s customer service offers a good indication of what to be expected from the client. You should make sure that the customer support of the payroll vendor is easily available and accessible when you need assistance. They should be able to guide through complex processes without much pain and complexity. Also make sure the new payroll vendor has the right kind of expertise and will be able to give you the right value of your money.
Demo of the product experience
It is always advisable to test the product first-hand and see what you will be working with. The user experience should be simple to understand and easy to use for both employees and the employer. There should be easy access to payment history and employee information on the product dashboard. There can be also some applications to integrate business tools and applications. You should be aware of the level of support that you will need, from the new payroll vendor. You must also get an understanding of what the product and system training process will be like, such as product demos and one-on-one assistance and see if it works for you.
I am sure that once you follow these steps, transition to new third-party payroll service providers will be so easy and comfortable.
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