The Payroll Strategy Tool
The best payroll solution for your firm depends on your goals, your staffing levels, and the how quickly you need to implement a solution. We’ve created the questionnaire below to help you get started.
1. Goals
What is your main reason for considering a payroll offering?
- Generating profit directly from payroll is my primary goal
- Increasing client loyalty and driving creating new business opportunities in my core areas are my primary goals. Generating profit directly from payroll is a secondary goal
- I need to accomodate an existing client or clients who need payroll services
2. Staffing
How would you describe your current level of payroll staffing resources?
- I have (or plan to hire) one or more payroll specialists who could dedicate all of their time to my payroll business
- I have one or more staff members who have some payroll knowledge and can dedicate a few hours a day to payroll
- I don’t plan to dedicate any staff capacity to dedicate to payroll
3. Timeframe
When would you like to launch your payroll offering?
- In the next 6-12 months
- In the next 3-6 months
- In the next 3 months or less
Scoring
Assign 3 points to every A, 2 points to every B, and 0 points to every C.
- 7-9: In-house approach
- 4-6: Hybrid approach
- 3 or less: Outsourced approach
7-9: All-in Approach
Based on your score, your firm may benefit from a higher level of involvement in the payroll process. This may involve processing payrolls in-house using tools like Accounting CS Payroll, or giving your clients the resources to process their own payroll with your guidance, using tools like Accounting CS Client Access.
Keep in mind that even if you have the resources to process payroll in-house, there may be a subset of clients that don’t fit your business model. In these cases, it may make sense to use a service like myPay Solutions.
4-6: Hybrid Approach
Based on your score, your firm may benefit from a combination of hands-on and hands-off payroll tools. It’s likely that you’ll gain the most by processing some payrolls in-house and referring others to an outside service like myPay Solutions. We can help you determine the precise mix that best suits your needs, and you’ll want to consult with your clients on a case-by-case basis to further tailor the mix for each client.
3 or less: Outsourced Approach
Based on your limited staffing availability and short timeframe, you may benefit most by referring your payroll clients to myPay Solutions. myPay Solutions offers you the benefits of a comprehensive payroll offering with very little start-up time, no additional staffing requirements, and an ongoing revenue share from every payroll processed.
What's your score?
Once you have your score, our payroll experts can help you use it to find the mix of payroll products that best fit your firm. Call us at 800.968.8900 to get started.