PrismHR Payroll Solution for PEOs

by Craig Babigian HR software for PEO

Considering the ever-increasing number of PEOs operating in the United States—between 780 and 980, employing between 21,000 and 27,000 workers internally—the professional employment model is a success and is here to stay.

With an estimated benefit to 2.7 to 3.4 million employees, PEOs have a full plate when it comes to payroll responsibilities. It simply makes good practical sense to invest in a dependable and thorough payroll solution designed specifically for PEOs.

PEOs, along with related administrative service organizations (ASOs), take on all the core tasks in a client’s payroll department. Since these specialized professional firms manage several companies’ payroll needs, it makes sense for PEOs to search for a solid payroll solution to help ensure client satisfaction.

The 5 best qualities and features to look for in a payroll solution for PEOs

Here are 5 of the best qualities and features that can help PEOs streamline payroll processing for valued clients:

Fast and Efficient. Providing clients with solid payroll solutions produces desired results. PEOs who consistently deliver error-free payroll on time, maintain existing clients and are more likely to attract new clients. This efficiency comes from a platform that features high-speed processing, as well as one that allows for processing multiple payrolls simultaneously without errors.
Flexible. Not every client will have the same number of employees, pay period goals, or other characteristics, such reporting requirements, pricing and billing structure, and time off policies. So it is important that a PEO payroll solution is flexible to accommodate any of these client needs.
Full and Updated Payroll Tax Support. Payroll taxes are complex, featuring frequently changing rules, laws, and codes. A payroll software solution with automated geographic coding makes it easier for PEOs to keep up with the IRS and keep clients compliant.
Security Is Assured. Clients may worry over the idea of outsourcing their employees’ sensitive information, but with a reliable platform, there is no need for concern. Finding a payroll service provider that features role-based security is ideal, only allowing access to authorized users, per the client’s discretion.
The Client’s Personalized Experience and Brand Are the Primary Focus. Clients appreciate PEOs that strive to personalize the client’s employee and management experience. Top payroll solution providers ensure the inclusion of client logos on company checks and branded employee self-service portals. Each report and piece of correspondence features the client’s name and logo.

The best payroll solutions for the top PEOs are comprehensive and client-focused

PEOs, ASOs, and other HR service providers offer invaluable services to clients on an ever-increasing scale, allowing for company growth and increased profits. Successful HR service providers deliver impressive results by investing in a payroll platform that focuses on comprehensive and client-focused services and also continually aims to provide frequent improvements, updates, and upgrades.