How to Choose the Right Payroll Service for Your Business in Penang, Malaysia

Jan 01, 2019

How to Choose the Right Payroll Service for Your Business in Penang, Malaysia

Payroll is a list of employees in a company, but the term itself is commonly used to deal with the total amount of money paid to employees by their company. It also includes the full records of the employees’ bonuses, taxes and salaries and wages. The payroll services are often hired by large companies so that the payment process to their employees are done on-time and that they have more time to focus on the more pressing matters at hand. Nowadays, with the existing of online payroll service, companies can now process payments to their employees without any hassle and all the work will be done automatically by the payroll service provider. The payments can be done anywhere as long as you connect to the internet. Thus, because of the wide selection of payroll services offered, here are some few basic points on what to look for and how to choose the right payroll service for your business in Penang, Malaysia.


1. Simple

Online payroll services are designed to be convenient. If it is too complex, then it might be difficult to understand. An easy interface makes the job faster and easier because time is money. The more complicated the system, the more likely that the companies will struggle with managing the system. Hence, consider choosing a payroll service that is easy and simple to use by your company.


2. Affordable

One of the popular question asked by businesses is how much does it cost. Small businesses, especially want to acquire a service that they can afford. If it's too expensive or requires a high-risk commitment, then they will be inclined to search for other service providers. Make an inquiry whether the service provider requires a month to month basis or a yearly commitment in order to get started. Just remember that the type of structure that you picked could bring huge cost implications to your company. So, choose the service provider based on your company’s available budget.


3. Works 

Not all payroll service providers offer the same features. A payroll company should be able to handle all tax obligations and payment processing on their own. A wide range of features offered as part of their services makes the company more manageable in terms of finance can help them calculate the necessary cost and rates involving their company. Thus, look for a payroll service that includes a lot of beneficial features as part of their plan that your company can use.


4. Reputation

Payroll services providers consist of new and old companies that have long ventured into this field. Search for a provider that has an established track record so that you are more confident when the provider manages your company’s payroll issues.


5. Integrations 

If you already have your own accounting software and systems, it’s best that you find a provider that integrates with the same program that you are using. All records can be easily synchronized and transferred without any extra work.


6. Support

Find a payroll service that can help resolve your problem when you need it. Some of the best payroll service providers can give quick and reliable help when you need it. This will greatly smoothen your operation especially when you have dedicated support representative to help you.


7. Outages 

Most online payroll services use cloud storage as their main storage which becomes very crucial to keep the server up and running all the time. Make an inquiry as to how many times has the server faced with electrical failures and how frequent will it be down due to maintenance. Be sure to select the one that has a few outages and electrical failures so that your work could not be interrupted.


8. Employee Self-Service

Your payroll service provider should add an additional self-service feature for your employees. It will allow your employees to log in and view their financial records with the company without the need to contact support. It’s not obligatory but it’s somewhat important to smoothen out your business operations.


In conclusion, the right payroll service usually depends on the size of your business at hand. Consider taking the above features into consideration when choosing the best payroll service for your business. Furthermore, it will really help if you make a list of the features and services that you want along with your budget to maintain it either on a monthly or yearly basis. Most of the payroll services depend on your own ability to commit to the plans offered by the payroll service provider.


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