There’s a very good reason that there has been a movement toward handling payroll for businesses online instead of using the more traditional methods. For starters, the traditional methods are much more prone to human error, they can be complicated, and they’re also terribly repetitive. Why not automate?!
Before moving your own payroll online, you should ask a few questions first. This might be especially true if you’re used to the traditional methods. You might be wary of changing things, but there are undoubtedly some pluses involved in payroll for businesses online. After all, you wouldn’t be thinking of making the switch if that wasn’t the case!
What Pricing Structure Will You Use?
Most payroll for businesses online is based on a monthly subscription fee that can range between $12 a month to $200 a month. You can also end up paying anywhere between $1.50 and $5 a month in addition for each of your employees, depending on what type of services you plan to offer. That’s why it’s very important to know beforehand what your pricing structure will be.
What Services Will the Vendor Provide?
With more than a dozen different providers available to choose from, it can be a tough choice to know which one might be best. Ideally, you just need to choose the one that will be the best match for your company’s specific needs. That means you should identify your own personal requirements and then find a vendor that is capable of delivering everything you need–and maybe a few things you didn’t realize you needed, too.
How Will You Set Things Up?
Once you’ve chosen the best online vendor to suit your needs, you should immediately be given access to start setting things up. This will mean logging into your account, configuring your setup as needed, and then adding your employees and users. You’ll want a service that will offer you the opportunity to both access your account and run payroll from any internet-capable device, such as a tablet, smartphone, or laptop. It’s also important to choose a provider that has great customer support for when–not if–you hit a snag.
How Secure Is the Service?
It is of the utmost importance that whichever vendor you choose, they are able to keep your company’s private accounting information safe and out of reach from hackers. Make sure that your vendor is using the highest encryption standards available. Look for 256-bit Advanced Encryption Standard encryption, which will help ward against password and login theft. Many companies also offer two-factor authentification, so be sure to ask if that’s an option before you sign up.
The good news is that most companies that provide payroll for businesses online are able to leverage the same security technology that many banking services use, which means account information such as Social Security numbers, passwords, and other personal identifying information should remain safely behind firewalls.