Evaluating Your Payroll Provider in the New Year
January 4, 2023
With 2023 upon us, it’s a great opportunity to look at your business processes, including payroll, to assess your solutions and strategy. Are you unhappy with your current payroll provider? Is the solution lacking the right integrations to make your payroll process more effective? Use the new year as an opportunity to make improvements to your payroll process so it works for your needs.
Here are three steps you can take to assess your current payroll solution and ways to ensure a
1. Assess Your Current Payroll Provider
The first step is conducting a detailed assessment of your current payroll provider. Below are some questions you should ask yourself:
- What aspects of their service have you been dissatisfied with?
- Are there key features missing you need/would like to have?
- What are the current features you use the most? Could any of those be improved on?
- How does your current provider align with your budget? How much are you willing to spend for the right solution?
- What are some of the pain points you have experienced?
- Finally, what do you hope to achieve with the new provider?
Once you have taken the time to answer these questions, you will have a clear picture of what functionality, level of customer service and requirements you need from the new provider. With this list you will also want to make sure you prioritize your business needs, knowing which items are deal-breakers and must-haves. This list will aid in your decision-making process and help you choose the best payroll provider for your business.
2. Compare Your Current Provider to the Marketplace
The next step is to compare your current payroll provider to others in the marketplace. You will want to be clear and specific on the features and specifications you need, your budget for this project, customer service requirements and needs of the employee interface. Another aspect to consider is how this provider will grow with your company and continue to meet your needs over time.
As with most things, not all payroll providers are created equally. Some key attributes to look at are their complete range of services, marketplace reputation, how they leverage technology and ease of use of their software. Look at the type of businesses they work with, does that align with yours?
3. Making the Switch
Once you have compared your current provider to other payroll companies, it is time to decide which payroll company aligns the best with your business now and in the future. After finalizing your decision, you should work with the new company to define a timeline to get all the information transferred and checked. This is also the time to build out any communications to employees that need to be sent out as well as checking any integrations. Do not cancel with your current provider until you have done multiple tests and ensuring everything is running perfectly in your new system.
Once everything is running smoothly, it is time to officially cut ties with your old provider.
We’re Here to Help
Outsourcing payroll comes with clear advantages, all of which contribute to the overall efficiency of a business. However, it’s important to partner with the correct payroll provider to ensure your business’s unique needs are met. DM Payroll Solutions is an outsourced payroll provider trusted by hundreds of organizations to run payroll on time and correctly – each and every pay period.
Contact us today to learn more about our suite of payroll services customizable to your business and why other businesses choose us over the competition.