Whether your business is already running Dynamics 365 Business Central, or you are considering a Dynamics 365 Business Central implementation, you might be wondering about payroll. What should be considered when evaluating payroll solutions? Is it better to outsource payroll or manage it in-house, and what are the pros and cons of each option? What is best for my business?
The Dynamics payroll experts at Integrity Data are here to help you sort through your options.
6 Payroll Questions to Consider for Your Dynamics 365 Business Central Implementation:
Do you want your payroll to have the same look and feel as Dynamics 365 Business Central?
The simplicity and ease of having all your business applications, including payroll, accessible and navigable in a seamless way within Dynamics 365 BC can be a true productivity boost. This also increases user adoption, reduces training time, and cuts down on duplicate entry.
Do you need to easily connect your ERP data with payroll and HR data for reporting?
Use your favorite Dynamics 365 reporting tools across your entire operation including payroll and HR. Consolidated and up-to-date business data across all applications provides access to business insights quickly, which helps decision makers make more proactive, confident decisions.
Do you want to be able to manage everything in one place?
Businesses today need to adapt quickly to changing requirements for their industry, customers, and for their employees. The ability to manage and adjust information within one environment can save substantial time and prevent delays.
How are you going to manage HR, ACA, and tax filing?
In addition to processing payroll, ask your payroll solution provider about Affordable Care Act compliance and reporting, local, state, and federal tax filings, and human resource capabilities such as employee self-service, benefits management, deductions, and W-2 filings.
Do you need strong controls, and optimum security?
Does your business have internal controls in place to protect you and your payroll data? From un-intended errors to outright fraud, companies need a payroll solution that helps them establish strong controls to ensure maximum security and accuracy of payroll.
How quickly do you need your payroll solution implemented?
Do you have the in-house staff to dedicate to a new payroll solution? Is it quicker to outsource payroll? Make sure your payroll solution provider can meet your timeline for implementation.
The answers to these questions are unique to your business. The level of integration with Dynamics 365 Business Central and ERP software, the amount of control over your payroll management, the staffing you have available to implement, run, and continue to manage payroll in the future, should all be carefully considered.
The following chart highlights where in-house payroll solutions, such as Payroll NOW by Integrity Data, may be the right path versus outsourcing payroll.
Payroll NOW by Integrity Data vs. Outsourcing
Payroll NOW has the ability to address all of these questions and more.
Integrity Data has been the leader in providing Microsoft payroll and HR software and services for over 20 years. Payroll NOW was designed by payroll experts for maximum efficiency, accuracy, and flexibility, and is the only fully integrated payroll solution for Dynamics 365 Business Central. It provides the best solution to integrate, sync, share, and extract data from Dynamics 365 Business Central in real time.
Wizards in Payroll NOW make it easy to onboard new employees.
Manage HR, Payroll, ACA compliance, and tax filing within your tightly integrated Dynamics 365 Business Central solution (synchronized with your ERP software, too!).
Control and secure sensitive company data pertaining to payroll in-house, not externally.
Make payroll changes and create your own reports on your timeline and without additional costs.
Download a complete summary of Payroll NOW features here.
What about Cost?
There are many costs to consider in selecting a payroll solution and deciding between in-house and outsourced. There are the obvious costs of the software and systems (in-house) or service (outsourced), and then the less obvious costs and/or risks associated with your choice.
In-house solutions, such as Payroll NOW, usually offer a subscription-based model, where your monthly fee includes access to the most up-to-date version of the payroll software, without downtime for upgrades or software fixes.
Similarly, outsourced solutions are usually priced with a monthly fee which varies based on the types of capabilities your business requires.
Both scenarios will require employee involvement to manage payroll overall, to ensure data is accurate, updated, and compliant on a regular basis. Even if you outsource your payroll, ultimately you own the outcome.
The less obvious costs should also be assessed carefully. What about the cost of not having payroll tightly integrated with your Dynamics Business Central and ERP software? Will your reporting include all insights if your payroll is not integrated? What are the costs of additional add-on services?
Hopefully this information has armed you with important considerations to think about when shopping for the best payroll solution for your Dynamics 365 Business Central implementation. We welcome your questions and the Integrity Data team of payroll professionals are ready to assist. Give us a call to get started today at 1.888.786.6162.
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