Payroll processing and statutory compliance are essential for every business and needs meticulous
planning and huge effort for a seamless experience. In this digital era, businesses are fast transforming
but outsourcing some of their operations for a cost-effective approach. This also helps them to focus on
the core business and growth. Outsourcing is becoming a common attribute for companies now and
some of the common functions that are outsourced, include: HR, Payroll, Compliance, and Accounting.
Why payroll outsourcing many can wonder. This helps a company to offload the responsibilities of tax,
employee benefits, all statutory functions, and legacy operations. Companies stay focused on sales and
growth and relieve the in-house team with the burden of a huge administrative function.
You have taken a decision to outsource payroll processing, now, you must identify the right company
that can support end-to-end payroll processing. First and foremost, it is important to understand if
payroll outsourcing is right for your company.
Are you taking the right step towards payroll processing?
Irrespective of size and nature of business, outsourcing payroll might turn out to be highly beneficial. Let
us understand the reasons that lead to outsourcing.
- You are yet to build a full-fledged HR team to process payroll and statutory compliances.
- Require expertise to fulfill statutory tasks beyond payroll.
- Distributed within the country and beyond boundaries but do not have the leisure to employ in-
house in all locations.
- Lacks a robust data server and unable to record and manage large amount of employee and
- The budget and skill needed to perform the operation seamlessly and effectively.
If your answer to all the above question is ‘yes’, then just go for it. Begin your journey of outsource and
identify the right partner who can serve you with end-to-end solution. Nevertheless, there are other
formal guidelines to be followed. Define the extent of service required and share the essential
information to make a smooth collaboration. You must prepare the data sheet with all critical
information required for payroll and share it with the service provider.
You must also formally make an NDA and protection policy document with the service provider to
protect your intellectual property and all legacy items. Now, comes the question, who to choose as your
Commitment & Technology Strength
Choose a partner who is committed to what they say and is capable of heavy lifting the huge challenges
associated with processing and implementing accurately. Those service providers with an automated
software to process the entire payroll and its associated tasks are the ones you can rely on the most.
Validate if they are using a cutting-edge technology to also enable data backup, recovery post any
disaster, and presence of contingency plans.
Evaluate if the service provider is an expert in the field of compliance and keeps up to date on the latest
changes or enhancements in the industry. This involves legal compliance to be able to provide a
complete service. At times, the software used by providers are also equipped to take care of such
requirements to not miss out on any of the legacy items.
Cost-effective & Customer Service
Evaluate if the cost involved aligns with the business objective and serves the entire purpose. Ask for
references and reviews to understand their extent and quality of service. You must be able to simplify
the entire task with the service provider help. Ask yourself if the outsourcing eliminates the complexity
of the entire payroll processing.
About Maatrom HR Solutions
Maatrom, a Payroll Consultancy in Chennai is equipped with a comprehensive software to process
payroll functions at large. Maatrom payroll services include HR statutory, PF, ESI, Professional tax &
TNLWF to registration & monthly filing of PF ESI in addition to processing employees in PF claims,
transfers, advance and death claims as well.
With 19+ years of experience and exposure to all the components of payroll processing and statutory
compliances, Maatrom is the right payroll consultant you can rely upon for an end-to-end solution or
tailor-make to your specific needs. Be it domestic or beyond the borders, we are a global partner to help
fulfill payroll functions without any hassles. Cost-effective solution, tailor-made solutions to accomplish
specific business goals, and end-to-end solution to align with the major business goal and handle the
most important human resource with utmost care and knowledge.
Your ideal Payroll Consultant in Chennai is Maatrom HR Solutions.
Visit https://www.maatromhrsolution.com/hr-services-in-chennai/ page to understand more about the
functions extended by us. Talk to us today to get a free consultation to understand your need and our
commitment to you.