You’ve heard it before: time is money.
In an increasingly fast-paced world, efficiency plays a vital role in keeping businesses competitive.
This need for efficiently utilizing resources has given rise to the business process outsourcing (BPO) industry, particularly here in the Philippines, which is widely known as the ‘BPO capital of the world’.
Payroll outsourcing has swiftly emerged as a popular avenue for businesses to lift the burden of cumbersome payroll management to the experts.
However, sometimes payroll outsourcing isn’t quite the right fit for all companies – an in-house system might serve your operational needs more aptly.
So as you make that decision to either keep payroll in-house or outsource it to specialized companies such as Visita, here are some things so consider before you take the leap.
Here are some things you need to know before outsourcing your payroll.
1) Assess Your Business Needs
Evaluating your businesses needs is the first step to making a smart payroll decision. How involved does your company want to be in the payroll process? How many employees do you have and what kind of shift do they work? Are you having issues with employees buddy punching? Do they check-in to work in various locations?
Ask and answer such questions to ensure sound decision-making.
2) The cheapest provider isn’t necessarily the best option
Outsourcing your payroll to the cheapest provider might sound like a tempting option, initially. While yes – such providers can deliver the necessary payroll management, but that’s only one part of the ball game.
Payroll providers must also be responsible for accurate computation, timely submission of reports and updated with ever-changing government laws – among other things.
Remember, you often time get what you pay for.
3) Select a provider who prioritizes your company needs
Almost all providers will promise the same thing during their sales pitch: to give you nothing but the best. However, satisfaction is subjective and you alone can determine whether your expectations are met.
It is important to ensure to what extent your payroll outsource partner can provide the following:
-Excellent support services and readily available to answer your queries anytime
-Technical and industry knowledge especially on Philippine payroll process
-A solid track record
-Accountability if something went wrong
-Provider who will utilize secure technology to ensure confidential data is not misplaced or compromised
-And willing to do the “extra mile” for its clients
Talk to a customer service representative if you need to from a payroll outsourcing company. It will give you a better feel of their service and they can answer questions you may have before you take the leap into payroll outsourcing.