The decision to switch payroll providers is not an easy one, even when you know that your current provider is not delivering the solutions you need. Recognizing that it's time for a switch is not the same thing as knowing when to actually do it. When is the best time to make a change?
For many companies, the answer is the end of fourth quarter, so that they can start fresh with the new year. In a world of advanced technology, online payroll services, and cloud-based computing, it’s easier than ever to achieve a smooth transition, but whether you choose to change payroll providers at the end of your annual business cycle—or at any other point—it is important to understand exactly what that entails.
While you can change providers any time of year, making a switch at the beginning of the year can make things easier, because there's less information
to move over from your old provider.
Are you ready to change payroll providers?
There are several questions you should ask yourself to evaluate whether it is the right time for you to cut ties with your current payroll provider.
1. How much time are you spending on payroll? If the answer is “too much,” it’s time to make a move. Your payroll provider should save you enough time and resources to justify the cost of the service.
2. Are you paying too much? If there are parts of the service you’re paying for but not using, or hidden fees, it’s worth looking into less expensive, more straightforward systems to increase your ROI.
3. Can your current provider scale with your company? Just because a payroll provider is the right fit at a certain point in a business’s lifespan, doesn’t mean that it’s the right fit as the company expands. Find a payroll company that can grow as you do.
4. Are you satisfied? If customer service or accuracy isn’t up to your expectations, it’s time to take your business elsewhere.
What do you need to consider when choosing a new payroll provider?
Once you’ve decided to switch, it’s time to pinpoint what you’re looking for in a new payroll service, such as:
- Ease of use
- High data security
- Excellent customer support
- Seamless tax filings
- Regular tax updates
- Ease of integration with your accounting software
- Payment options such as traditional checks and direct deposits
- Ability to differentiate and pay staff and independent contractors.
- Accessibility via desktop and mobile
- Ability to scale as you grow
- Implementation plan and assistance
- Training offerings
Implementation So Smooth, You'll Wish You Did it Last Year
At SBS Payroll, we offer high-quality payroll solutions that are efficient, simple to use, and cost-effective for any company. We’ll be there every step of the way as your business grows, with our payroll experts on hand to answer questions and provide top-notch client support. We also offer the smoothest and best-supported implementation process in the industry. If you are thinking about making the switch, take a look at our 5-Point Implementation Plan to learn how our process can smooth the way for you to tackle 2019 with your best foot forward.
Our clients have the added advantage of our team of sister companies – Cachet Financial Services, Payroll Tax Management, and Time Rack – providing solutions across the entire landscape of compensation issues.