Payroll Outsourcing & Payroll Offshoring is taking the front seat in business management services. And Payroll Companies in India are undoubtedly the preferred outsourcing destination for global clients. Businesses are getting organised, Startups are becoming stronger and SME’s are in transition to become larger and that is why Payroll Services in India are becoming strategically significant.
Many business owners discover all too soon that the reality of running a business isn’t always what they imagined when they started to fulfil their dreams of business ownership. Running a business involves so many aspects that at times it can be outside their comfort zone to manage it smoothly. Managing payroll is one of them. The process can be stressful, intimidating and time-consuming. And if not taken care efficiently, one can put his business at risk for penalties and fines. These are the reasons for which payroll is often one of the first business operations practice to get outsourced. Now, when you think of outsourcing, you may come across to many payroll companies in India offering outsourced payroll services. But with so many options to choose from, it is important to have some clear guidance about what to look for to ensure that your business gets the payroll service and outsourcing benefits it needs. Here we outline the top characteristics that you should consider or look for before bringing on board a payroll outsourcing company.
The most important characteristic is RELIABILITY
Once a payroll company is hired, on a day to day basis, its foremost role is to pay your people on time. So the company that you think of hiring should have guaranteed resources required to carry out data entry and processing, without a hitch. To ensure consistency and reliability, only consider payroll companies which already have a good track record of delivery. A good record keeping company will have people in place and good processes for expanding their workforce, if needed. One of the best ways is to look at references from other companies already using their service.
DKM Online is a well-established payroll company in India that has been providing fully managed payroll services to its clients. From small to big, we have many companies already on our books, benefiting from the reliable service we provide. We have a bunch of professionals who are enthusiastic, flexible and have vast knowledge and experience and they make sure to provide excellent services to our clients, meet their requirements and help whenever required.
It’s all about being FLEXIBLE & ADAPTING to the needs
When we look for hiring employees, one of the primary factors that we look for is how well the candidates will fit or adapt themselves in the given profiles. The same factor applies when you are looking for a payroll company as well. You should look for a company who can adapt to your needs as your company grows and evolves over the years. Changing your payroll provider frequently isn’t something that you would want to do. So even if your payroll needs right now are fairly straightforward, it’s important to choose a provider who can easily accommodate you if you grow quickly or suddenly require a more complex pay system for any reason.
At DKM Online, we provide customized payroll services to accommodate your changing requirements, providing functionality and resources as required, providing flexibility at technical level, etc. From the beginning, all services we provide are fully tailored to suit you. They are adapted over the time in response to changing circumstances.
Look for all in one SERVICE OPTIONS
There could be companies whose services are restricted to look after only payroll accounting or they only take care of statutory compliances. These payroll providers only offer specific payroll services. But you should always look for full-service providers who offer a whole host of services designed to make your job easier. These services include running payroll and payroll reports, direct deposit availability, reporting and filing employment-related taxes, making automated tax payments, handling employee reimbursements, vacation and sick day tracking and reporting, and more.
We at DKM, take care of it all. Our full-service payroll management system will allow you to save your valuable time, resources and cost.
Consider these factors – ACCURACY & SECURITY
The other important characteristic to look for is a payroll company’s ability to process your payroll accurately, securely and in accordance with all relevant tax regulation. This, more than anything else, is what will give you the peace of mind while running your business. To deliver accuracy, security and compliance, payroll service companies need to satisfy several requirements like ensuring that they do not run the risk of incurring penalties from legal bodies due to inaccurate payments or late submissions or ensuring they have the processes and procedures in place to ensure accuracy of payments. The kind of software they use should be fully compliant with the latest legislation, and they need to have sufficient expertise to draw on to ensure ongoing compliance. All these factors are essential to meet by a company to ensure that everything that needs to happen to run your payroll accurately, securely and legally is being taken care of as standard.
At DKM, the software we use is kept continually up to date with all changes to payroll regulation. And we have a large team of professional payroll consultants, qualified CA’s and HR Managers on board, who are well qualified and have vast knowledge in this field. In terms of day to day accuracy, we take a pro-active approach to correcting any errors within your payroll. Technology & Security are the other factors which we are very equipped & particular about.
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