Payroll Buyer Tips
Once youve decided the features you need, talked with different vendors, and reviewed quotes, how do you decide? Here are a few considerations to make the process easier.
Dont go with the cheapest provider. Low cost payroll services are often misleading, luring you in with the draw of low monthly fees, only to spring hidden charges once youve signed a contract. Especially with a lower cost provider, make sure you read the contract thoroughly. Have an attorney review it if possible. Make sure you know what youre paying for.
Choose a reputable company. Stability is key in a payroll outsourcing company. Remember, most companies will take money on deposit, hold it, and disburse it to your employees and to government agencies. Recent cases of fraud and bankruptcy among less established companies have forced many businesses to learn the hard way that choosing a reliable company is very important. Ask how long the company has been in business, how many clients it has, and what functions they perform other than payroll. You want a company that can stick around for a while.
Ask lots of questions. The best way to get a good idea of what youre buying is to ask other businesses, payroll processing companies, even banks, what their experience has been with a particular provider. Asking questions of the provider is a good idea, too. Make sure you know the procedure for calling in payroll, setting up the account, and any and all charges associated with the service.
Try before you buy. Many companies offer a free trial. Take advantage of any programs that will help you gain more information about the company, including demos, reference calls, and free trials.
Choosing a payroll company for paycheck processing is a smart idea. Make sure you choose the right vendor for your business.