How much does it cost? With the recent economic times, businesses are paying closer attention to the cost for services they are receiving. If enough research is done, a cheaper price can usually be found, but are you truly saving money following cost savings alone?
For most customers price by itself is not the key factor when they are making decisions that impact their company’s financial well-being and employee morale. In the case of payroll processing and related services, the overall value of the services offered must be taken into consideration.
The value of a product changes as the price paid and benefits received change. When making a decision on payroll processing, buyers should also weigh factors such as conversion, risk of conversion accuracy, time spent learning to use the new product, and the level of service they will receive going forward.
- Conversion: The cost of conversion includes time spent on conversion meetings, gathering data, copying materials, verifying entry of data and installation of new software and processes.
- Risk of Conversion Accuracy: Employee information that must be converted includes demographics, earnings, deductions, taxes and direct deposit information. Errors in these areas can cause issues with corporate payroll tax returns, problems balancing benefit data, and in the case of direct deposit – employee net pay not arriving in the proper account.
- Training Time: New systems take time to learn and more time to master. Make sure the training you receive will be adequate to help you through the first pay and that ongoing training is available to help you master the new solution at no extra cost.
- Service Level: This is most likely the largest drain on time as the level of service will directly impact the amount of time you spend processing your payroll. Calling to regional service centers that require numerous levels of passwords and case numbers also force you to remain on hold for extended periods and rehash your questions or issues with a new service person each time you connect. Make sure you will receive the service you deserve by checking references closely and asking your trusted advisers for their recommendations.
These are just a few of the reasons that making a change to your payroll provider needs to be more than just a fee based decision. While saving on your processing fees may sound enticing, how much difference will the savings really make to your corporate bottom line, especially when factoring in the cost of conversion?
At PCS, we believe in offering over the top service with a focus on providing our clients the value they deserve. We proactively seek ways to create efficiencies throughout your timekeeping, payroll and HRIS processes thereby saving you and your company time and money.
If you are considering a change to PCS, do so because of the value we bring to your company, not because we may be saving you some money over your current method. As far as conversion, here’s how PCS minimizes the cost of transitioning to our services:
- Conversion: we have a dedicated New Client Coordinator (NCC) that is the liaison between you and our conversion team. This role minimizes the amount of work you need to do in order to facilitate the transition as the NCC’s sole responsibility is managing the process.
- Risk of Conversion Accuracy: our conversion team will electronically pull data whenever possible and you always receive edit listings in advance of your first pay run in order to check everything for accuracy. We also completely balance and recap all year to date earnings, taxes and deductions to your prior method numbers along with balancing taxes back to prior returns.
- Training: we provide personalized, one-on-one training that is focused on your needs. One of our trainers will be with you in person or via web and phone throughout your entire first pay process to ensure accuracy and timeliness. On-going training is provided at no additional cost and is handled in small classes or one-on-one to maximize your learning experience. We want you to become an expert!
- Service Level: throughout the conversion you are working directly with your implementation manager and the New Client Coordinator which keeps communication lines open. Being that your implementation manager has become familiar with your account, they process your first pay and each successive pay until we know your payroll has been set up properly and is running smoothly. Then and only then, we transition you to your Client Account Manager (CAM) who will be your main point of contact going forward. Over time, your CAM gains a full understanding of your payroll and the special needs you have, which allows them to be proactive in the service they offer you. The end result is time saved due to greater accuracy and less time spent explaining your needs.
Our recommendation – don’t buy services out of a box and don’t get fooled by limited time offers for savings which sound too good to be true. In most cases, they are.
VP of Sales & Marketing
Payroll Control Systems