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Efficient and reliable payroll is critical for every business. Yet with the increasing complexity of the workforce and the constant updates to payroll legislation and policy, you may be considering switching to a new provider that guarantees more value than your current one.
Many businesses want to change provider, but they’ve heard that it can be a real headache and not worth the risk. Don’t let perceptions about switching stop you from improving your payroll. In this article, we debunk the five most common myths of changing payroll providers.
Paperwork, manual processes and admin are rife in archaic payroll departments. But with workloads already at a record high, some businesses may put off switching to a new supplier because they’re worried it will increase workloads even more.
Choosing the right provider is key. An experienced payroll implementation team will do the heavy lifting for you. Plus, technology makes it easy to transfer data from one system to another, so your team won’t need to manually handle data.
While there might be a slight increase in workload getting your new system or service set up in the beginning, the right system will provide a noticeable decrease to workload in the long run and increase efficiency across your whole business.
The number one priority for every business is to ensure that their people are paid accurately and on time. We know that delays to payroll simply can’t happen.
In most cases, the new supplier should carry out rigorous testing to make sure that all the payroll information is accurate before anything goes live. This is called ‘parallel run’ testing and consists of the new provider running your payroll at the same time as the exisiting supplier to ensure there are no discrepancies in the data or processes. Once you and the new supplier are confident that your payroll is accurate, you can make the change without any delays to payroll.
Payroll requires the handling of lots of sensitive employee and financial data. If your chosen payroll supplier has vigilant security, compliance and data controls place, and adheres to secure procedures when transferring data, then any risks of switching should be alleviated.
Make sure that the new supplier has security credentials such as being ISO27001 certified and GDPR compliant. Can they guarantee that private data can’t be viewed by anyone who shouldn’t see it? What information security protocols are in place to prevent a data breach? If you’re moving to a managed service, you could also enquire about staff data security training and processes for peace of mind.
Unless you’re opting for a costly bespoke integration and implementation package, moving to a new payroll provider shouldn’t be outrageously expensive. In many cases, a new system could actually help you save money and demonstrate return on investment overall.
Although a new system or provider may cost slightly more than your current legacy system, your business will gain access to the latest technology, services and expertise, which could save you a fortune on technology and infrastructure over the years. Not to mention, saving you the cost of maintaining and upgrading your systems every year.
As technology is so heavily ingrained in our everyday lives, employees expect the same high quality in the technology they interact with at work as they are used to with their personal devices. Intuitive systems that can be accessed on mobile devices, such as viewing your payslip on an app, are becoming the norm for employees.
Your new payroll supplier should also include staff training as part of the implementation service to make sure your staff feel confident with the new system or processes.
We hope that this article has eased your fears and addressed any concerns you had about switching payroll providers. Whether you’re looking for payroll software that you can run in-house, or you’d like to explore a managed payroll service, we know there is a lot to consider when choosing a new provider and you want to ensure you’ve made the right decision before switching.