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Cloud-based Payroll Outsourcing: Why The Shift?
This webinar discusses the advantages of outsourcing payroll to cloud-based providers. Technology changes like increased internet access and APIs have made cloud payroll services more viable. There are also economic reasons like low unemployment increasing costs of errors, and social reasons like millennials expecting instant access. Outsourcing reduces costs and risks of maintaining an in-house system. The presenter discusses their company's full-featured cloud payroll and HCM solutions and takes questions at the end.
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Cloud-based Payroll Outsourcing: Why The Shift?
- 1. Start Time: 2:00pmEST Live Webinar: Webinar Audio: You can dial the telephone numbers located on your webinar panel. Or listen in using your microphone or computer speakers. Welcome! Employer Solutions
- 2. | Employer Solutions SomeHousekeeping Items • This presentation is about 45 minutes long • All phone lines are muted • Please use the GoToWebinar Question box to ask questions • Copies of the slides are available under Handouts • An on-demand video recording of this session will be available at www.netatwork.com
- 3. | Employer Solutions Today’sPresenter Mark Boutilier Senior Solutions Engineer Net@Work Employer Solutions Practice Email: mboutilier@netatwork.com Phone: 207.480.4805 (direct) LinkedIn: https://www.linkedin.com/in/mboutilier/
- 4. | Employer Solutions OutsourcingPayroll is not a new concept. Firms like ADP have been doing outsourced payroll for over 65 year.
- 5. | Employer Solutions Settingthe Stage Deloitte, 2016
- 6. | Employer Solutions ByCompany Size and Earnings Less than $25M $25M - $99M $100 - $499M $500M - $999M $1B – $4.9B $5B and over United States Canada 43% 39% 33% 36% 26% 33% 39% 37% Source Robert Half Study, 2014
- 7. | Employer Solutions WhyNow? Technology Economic & Social Payroll Processing Requirements
- 8. | Employer Solutions WhyNow? Technology Changes •Ubiquity of High Speed Internet •Proliferation of Devices •Growth of Cloud Payroll Service Provider Market •Development of API technology
- 9. | Employer Solutions Whatis an API?
- 10. | Employer Solutions Howdo APIs apply to Cloud Payroll Processing? API HCM Time & Attendance General Ledger Payroll
- 11. | Employer Solutions WhyNow? Economic & Social Changes •Low Unemployment •Payroll Errors and Employee Dissatisfaction •Millennial and Generation Z Expectations
- 12. | Employer Solutions HistoricUnemployment Lows
- 13. | Employer Solutions PayrollErrors: significant factor in employee dissatisfaction According to one study up to 34% of employees said a single error on their paycheck would cause them to consider leaving the company.
- 14. | Employer Solutions Costof Employee Replacement 16% to 216% of the replaced employee’s annual salary. Center for American Progress
- 15. | Employer Solutions Millennialsand Gen Z – Cloud Natives
- 16. | Employer Solutions InstantApp-like Access
- 17. | Employer Solutions PayrollSelf Service Transactions Deloitte, 2016
- 18. | Employer Solutions WhyNow? •Payroll Processing Trends •Geographically Dispersed Workforce •Increased Regulation •The ‘Gig Economy’
- 19. | Employer Solutions GeographicallyDispersed Workforce • Telecommuting Home Office • Traveling employees – sales andor service • On-site teams • Mergers and Acquisitions.
- 20. | Employer Solutions IncreasedRegulations Cost of maintaining expertise in payroll regulation
- 21. | Employer Solutions TheGig Economy
- 22. | Employer Solutions Changesin How Payroll is Processed •What is an ‘employee’? •Daily Payrolls •On-Demand Payrolls.
- 23. | Employer Solutions Advantagesof Outsourcing Payroll to the Cloud 1 in 3 • Businesses who pay a payroll penalty each year according to the US Chamber of Commerce 6.1 • Number of fines or penalties businesses in trouble pay on average according to an ADP study 3X • Number of penalties in-house payroll processors pay compared to outsourced according to an ADP study. 75% • Number of CPAs in a Paychex poll who said that their clients “lack the expertise to effectively run payroll”.
- 24. | Employer Solutions Advantagesof Outsourcing Payroll to the Cloud •Outside expertise •Constantly changing rules •Tax law changes.
- 25. | Employer Solutions On-premiseversus Cloud Technology Servers: $11,598 MS SQL: $ 2,650 $14,248* IT Time: $??,??? * Rough estimate based on Internet search. Reliable High-Speed Internet Access
- 26. | Employer Solutions IsMy Cloud Data Secure? 27.8 incidents 53% Hit with attacks Cloud-based Service Providers 61.4 incidents 44% hit with attacks On- Premise Source: Alert Logic's Fall 2012 State of Cloud Security Report
- 27. | Employer Solutions HowMuch Does My Payroll System Cost? Implementatio n & Customization 41% Software License 16% Hardware & Infrastructure 24% IT Staff 6% Maintenance 13% On-Premise Subscription 68% Implementatio n & Customization 32% Cloud-based
- 28. | Employer Solutions TotalCost of Ownership Source: https://www.softwareadvice.com/tco/ New Server
- 29. | Employer Solutions Advantagesof Outsourcing Payroll to the Cloud •Technology software issues •Predictable business expense •“fire and forget” - post-payroll tasks completed.
- 30. | Employer Solutions Focusthe organization onto transformative efforts rather than transactional activities. Advantages of Outsourcing Payroll to the Cloud
- 31. | Employer Solutions ProcessingOptions On- Premise Hosted Full Service
- 32. | Employer Solutions Net@WorkOfferings?
- 33. | Employer Solutions FullFeatured Payroll in the Cloud
- 34.
- 35. | Employer Solutions FullCloud HCM Solution
- 36. | Employer Solutions Conclusions Thereare new economic, technical and social reasons to consider outsourcing payroll now. There are good reasons to consider outsourcing, including increased security and total cost of ownership. Net@Work can help you find the right outsourced payroll solution that meets your needs.
- 37. Other webinars youmight be interested in . . . . . | Employer Solutions When Employees Leave: Managing the Risks October 11 11:00 AM EST HR Strategic Planning – Charting the Course of HR October 12 1:00 PM EST
- 38. Thank You ForAttending! | Employer Solutions 800-719-3307 www.netatwork.com netatwork.com/blog Net@Work YouTube Follow us on Twitter: @netatwork_corp Follow Net@Work on LinkedIn Follow Net@Work on Google+ Follow Net@Work on Facebook Connect with