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WHY LEVERAGING PAYROLL DATA IS AS
IMPORTANT AS USING A PAYROLL SERVICE
In order to answer the question of why payroll data is so important, we need to start at the beginning.
More Than Just “Payroll” Data
Providers need to know about new employees, termed employees, and everything in between. To make things more complicated, the data points each vendor needs varies based on the type of benefit offered.
More Than Just “Payroll” Data
To combat this, the business owner hires an office manager. The office manager now has the happy responsibility of taking all of the data out of the payroll system and figuring out how to get it to the various providers.
Often, this means manually rekeying data into a providers website or taking a payroll report, modifying in excel, then uploading to the providers site.
More Than Just “Payroll” Data
At this stage, many explore the possibility of purchasing benefits directly from their payroll vendor. There’s certainly nothing wrong with this path. At its best, it provides the business easier administration and generates tremendous additional revenue for the payroll service.
That said, there are a few tradeoffs to consider:
More Than Just “Payroll” Data
Flexibility
Payroll companies that offer benefits generally do so as an “add on”. As a result, benefit options are sometimes limited, as is the depth of knowledge of customer service.
More Than Just “Payroll” Data
Golden Handcuffs
We refer to this as building your own “Hotel California”. Service after service is added, which is great when everything works, but it makes exiting very difficult because so many things are now tied up with one vendor.
More Than Just “Payroll” Data
Singularity
Our role is to look at each of your vendor relationships and determine the best and most efficient way to move data to them.
More Than Just “Payroll” Data
No matter the circumstance, we’ll work with each client to determine how best to remove manual work. The result for our clients is time saved and, perhaps most importantly, a huge reduction in risk.
This is Singularity, and we’re proud to say it’s a huge part of why we’re different.
More Than Just “Payroll” Data
