Payroll & Accounting Services
Processing Payroll is believed as an administrative function but there are other aspects to payroll that are greatly beneficial and frequently unnoticed. When payroll is performed for the temporary contingent workforce, the company processing the payroll acts as the Employee of Record for the temporary consultant. By utilizing a 3rd party payroll services company such as Vegatron Systems, the client is able to protect their company from various liabilities and responsibilities such as collection of payroll taxes and payment of employer taxes like workers compensation. Additionally, the employer of record must provide benefits to consultants as well, such as Medical, Dental, and 401k plans, and also, they must be able to provide general liability insurance, worker’s compensation, Auto, Property, EPL, Crime, Cyber and Errors & Omissions. Some companies may be utilizing multiple agencies, so every month they are collecting time sheets from dozens of contingent workers and agencies, having to invoice them all separately. To further complicate things, each state has its own labor & employment laws. We are a company that provides Payroll Services will handle all of this work for you, and eliminate the risks associated with it.
Our Client’s Concern
Vegatron Systems prides ourselves on being an IT Solutions and Staffing company, however we are also a trusted partner of our clients, which means that we heed to their problems and find ways to develop the best business solutions. As Vegatron’s client was going through vendor change management, which is not uncommon in the Technology and Staffing industry, a problem was realized – what would be done with active temporary contingent consultants currently working for vendors that will be eliminated? Absorbing all of the contractors would leave the Client open to various risks and costs related to temporary employee payroll, and considerably stress their workforce with an influx of invoice and payment related work.
The Chosen Solution
Vegatron’s Payroll Services was chosen as the best solution to The Client’s problem. Thus, Vegatron became the employee of record for the temporary contingent consultants of eliminated vendors. This included capturing and documenting all needed candidate personal information, redoing due-diligence, collection of invoice documents, payment remission and all major processes needed to comply with both the Client’s, and legal requirements. Vegatron Systems took care of activities such as taxes, benefits, administrative work and staying on top of employment policy changes. As an added benefit of the payroll solution, we frequently checked in with consultants to ensure their job satisfaction, and made sure all was done to facilitate a healthy engagement.
Benefits Gained by our Client
Overall, Vegatron Systems’ Payroll Solution has accomplished significant success for the Client, as their business objectives were not disturbed and projects continued to progress as anticipated in a smooth & healthy manner. The Client was able to retain the same existing staff as before the transition. Vegatron Systems also safeguarded the Client from various risks and responsibilities serving as the employer of record for these consultants. With Vegatron’s Payroll Services, our client was able to absorb cost savings as Vegatron’s solution was able to compete the competition in terms of pricing, and ensured a sound workforce by continuously remaining in contact with the consultants.
We have decades of combined industry experience in providing Payroll and Accounting Services for organizations in the field of Information Technology & Mechatronics, Esports & Gaming, Embedded Engineering, Electrical Engineering, Energy & Utilities, Financial, and Healthcare & Pharma industries.
Flexible Staffing Options: By leveraging our recruiting team, you gain access to an extensive network of professionals with whom you can engage for:
- Contingent Workforce options
- Direct Hire Permanent Placement, Full-Time, Part-Time
- Contract Staffing: Corp-to-Corp, Temporary, Temp-to-Perm
Our Engagements & Services:
- Recruitment Process Outsourcing Services (RPO) Engagements
- Managed Services Program (MSP) Engagement:
- Statement of Work (SOW) Engagements
- Payroll & Accounting Services
Industries we deal with:
- Information Technology, Robotics and Mechatronics
- Embedded Engineering
- Electrical Engineering
- Healthcare and Pharmaceuticals
- Accounting and Finance
- Energy and Environment