OUTSOURCED PAYROLL PROCESSING: A GROWING TREND
A growing number of businesses and governments are benefiting from business process outsourcing (BPO) which includes check preparation and warehousing, remittance, insurance claims, finance, accounting, travel expense, and payroll processing. Nearly half of all organizations, regardless of size, outsource at least one business process. Spending on BPO is increasing at more than twice the rate of spending on information technology outsourcing. Because BPO integrates IT, workflow, best practices, and talent, business process outsourcing represents a significant opportunity to reduce or reallocate costs and improve efficiency.
The decision to pursue outsourced payroll processing services can be a challenging one. Payroll is a critical business function, but not one that brings significant value to shareholders or improves services to customers. Payroll processing can monopolize a substantial amount of human and capital resources - resources that could be better used for developing and implementing value-adding strategic initiatives. It may not be immediately apparent as areas that, if enhanced, can lend a competitive edge until employee dissatisfaction resulting from inefficient payroll and benefits processes becomes a considerable competitive disadvantage.
PSPI: A COMPANY BACKGROUND
If you are interested in using a payroll outsourcing company or are open to considering an alternative outsourcing provider, we offer a payroll outsourcing business model that enables clients to channel human and capital resources towards developing and implementing value-adding strategies, improving HR and financial reporting, and focusing on their core functions.
Payroll Service Providers, Inc. (PSPI) has been in the Payroll, Timekeeping and Human Resource business for over twenty (20) years now. We have served over 400 clients across various industries. Most of which are leaders in their industry. Its Principal Business Partners, one of whom is the author of this enterprise system, have assumed senior management roles in finance, information technology and human resources with large and medium-sized multinational and local corporations. All these have equipped us with the expertise to take on the payroll-related challenges that our clients are constantly faced with. The breadth and depth of our experience are reflected in part in the services and deliverables that have given PSPI its competitive advantage.
The solid relationships we have built with our clients as their exclusive payroll outsourcing technology partner is testament to our ability to meet stringent service delivery standards.
PSPI: OUR SERVICES AND OUR DELIVERABLES
A. Outsourced Payroll Services
The enterprise system that we use to process your payroll was designed to accommodate companies with multi-users and an unlimited number and variety of pay rules, pay currencies, pay groups, employee locations, work schedules, and cost centers even within the same corporation. The scope of our Outsourced Payroll Service includes:
* We will conduct a parallel run of your last 2 payrolls for all employees as a Proof of Concept. This will include a report noting the discrepancies, if there are any. It will also serve as an audit of your current payroll.
* We will install the client version of our enterprise system at your site allowing you to maintain total control over your data. This is what differentiates us from other providers. All your historical and current payroll data are with you and you can reprint these, generate Certificates of Employment/Contributions in a few seconds, create ad hoc reports, simulate pay scenarios, view selected data --- all these with no need to wait for your provider to produce them for you. Moreover, this saves you the valuable time that your payroll team could otherwise be spending on more critical functions.
* We will train your authorized users and assist in orienting your employees on the details of the new service.
* We will provide a customized interface between our payroll system and your accounting, human resources information and timekeeping systems to eliminate the need to re-encode pay entries, resulting in significant time and manpower savings.
* We will compute your payroll which includes the basic salary, over and under time, night differential pay, absences, tardiness, leaves, withholding tax, SSS/Pag-Ibig/Philhealth deductions and employer contributions, loans, loan balances and other company deductions, allowances, other taxable and non-taxable income, incentives, commissions, bonuses and other payouts. As such, we take care of generating the following for you:
Employees’ Pay Slips either in printed form or via e-mail in password protected format. Your company’s pay slips can be customized to reflect the income summaries and as much non-standard payroll-related information that you would like your employees to be provided with such as but not limited to loan payments and their balances, overtime and night differential pay (type, number of hours and amount per OT/ND rendered), salary adjustments, year-to-date summaries of withholding tax, taxable income.
Payroll Variance Report so you can always compare your current payroll with the last. At a glance, you can identify the overall and specific differences between your previous and present payroll. This report can also be used in aid of fund projection and identifying payroll trending.
Payroll Register accompanied by Subsidiary Ledgers for all employee transactions such as loan payments, deductions, among others.
Government-Mandated Reports and Diskettes for PhilHealth, SSS, Pag-Ibig including BIR’s alpha list and 2316.
Accounting General Ledger Journal Entries which can accommodate an unlimited number of cost centers.
Payroll Diskette/s and Bank Letter/s of Advice.
Other company-specific reports
B. Outsourced Time & Attendance Services
Our Outsourced Time & Attendance Web-based Service goes directly to the crux of payroll and its issues. This gives you the ability to readily make sense of your time and attendance data, while providing employees with the facility for online query, application and approval of leaves and over/under time thus eliminating the repetitive and tedious task from the hands of the payroll staff. Moreover, it is capable of tracking multiple shift patterns and crew rotations that relieves the payroll team of the burden of scrutinizing and validating timekeeping records.
PSPI PAYROLL OUTSOURCING: OUR VALUE PROPOSITION
We allow you to focus to what you do best --- running your business!
Unburden your payroll team of the monotonous yet necessary and recurring task of payroll processing and timekeeping validation. In doing so, you allow them to build value-added skills that will lead to more challenging, fulfilling and productive functions.
The Payroll Variance Report so you can always compare your current payroll with the last.
Stay in control over all your payroll data. Reprint all reports including pay slips, convert your data into Excel to simulate varying payroll scenarios and create your own ad hoc reports with real-time information.
Bring consistency, accuracy, precision and continuity to your payroll even in the face of absences, resignations and work stoppage.
By engaging PSPI, you get over 20 years of payroll experience.
No need for expensive hardware nor to acquire and maintain a payroll system that requires frequent enhancements resulting in cost and system downtime.
Protect your pay data from the roving eyes of unauthorized personnel. The relationships that we have forged with our partner banks as their exclusive technology partner in providing payroll outsourcing services to themselves and their clients is a clear demonstration of our ability to safeguard sensitive information.
Eliminate redundant encoding tasks because our system is capable of interfacing with your existing Finance/Accounting, HR, and timekeeping systems.
If you are interested in considering PSPI as your potential Payroll Business Partner, Just Log-in through the CONTACT US portion of our Website and It will certainly be a pleasure to have the opportunity to meet with you to conduct a demonstration of our system and discuss our services in greater detail.
William M. Aldeguer
Principal and Business Partner |
