Payroll Vendor vs Payroll Partner
May 1, 2019
If you’ve got employees, you’ve got payroll. And that means you’ve got all of the associated tasks (and headaches) that come with it. You may be starting to realize that your focus needs to be on running and growing your business – instead of being distracted by the complexities of payroll. Rather than continuing to struggle with details, it may be time for you to outsource.
However, you can’t turn something as important as payroll over to just anyone. If you do a search of payroll companies on Google, the initial results probably won’t show too many differences. However, upon closer inspection you’ll notice that offerings run the gamut - from do-it-yourself payroll software and online options to large payroll-only vendors to companies that can manage all your payroll and HR programs and systems. While the choices can be overwhelming, your best bet is to choose a company that is responsive and will partner with you to meet your company’s unique needs.
The most basic option is online payroll. And there are a lot of options to choose from. In fact, there are so many online payroll companies, that finding the service that has everything your business needs can be easier said than done. While the vendor may handle your company’s payroll and payroll tax needs, there are some pretty big differences in the levels of service provided. Your less expensive options are usually transactional without a lot of support, which means you still need to push out payroll.
Having a partner rather than a vendor will make a world of difference in your day-to-day operations. For example, if we're handling your payroll at Spectrum Payroll, there's no need for you to staff an employee dedicated to the task, and no need to maintain your own payroll system. As your experienced payroll partner, we will handle all of your needs, including check processing and printing, direct deposit, W-2 and 1099 processing, filing up-to-date quarterly and annual payroll taxes, and reporting.
A payroll partner will also listen and learn. They want to understand your organization, look at the details, and develop a plan to help you solve your challenges. On the other hand, a vendor will first tell you why their solution is the best, possibly without ever asking you questions to get to know your needs.
Your partner will also be there to work with you through the process. If your payroll vendor is offering you a little initial training and a 1-800 number, you might want to ask a few questions. A payroll partner views themselves as a resource and someone who can help you get started and answer your questions along the way. When you hire a payroll partner, your relationship with their team is ongoing.
Payroll is complex and ever changing. There are taxes, deductions, changes in payroll laws, year-end documentation, and more to worry about. When you partner with Spectrum Payroll, we handle all of the details for you. Our team of experienced experts can provide you peace of mind, give you access to top-of-the-line technology, and ultimately, more time to grow your business.