What are the benefits of outsourcing your payroll?
Outsourcing your Payroll
We can offer, to small and medium sized businesses, total payroll packages to meet all your payroll requirements. With outsourced solutions, these packages can be flexible to meet your specific business model so you don’t end up paying for something that includes services you don’t need, or misses key features that you do need.
Big businesses can afford to maintain big payroll departments. For small businesses however, an in-house payroll service is a money burner.
If you calculate the hours your employees spend on payroll-related activities, payroll software costs, training costs, printers, printing and distribution of payslips, creating tax documents etc, you could be surprised by the result when compared to the cost a payroll service provider can offer.
The payroll function can consume a large proportion of your staff resources, especially if the staff in charge of the payroll are not trained specifically to deal with it, or have the payroll function as a smaller part of their overall responsibilities.
The benefits of outsourcing the payroll includes freeing up these resources allowing your staff to concentrate on more essential tasks. You may even be able to reduce your staff size. Outsourced functions also give you better scope for expansion of your company with scalable services suited to your business.
It can often be expensive to employ staff with the necessary training to operate a payroll system. For smaller companies where the payroll activity is not enough to warrant a full-time employee, you may have to train current staff in payroll as an additional responsibility to their core role. In addition, they will need to keep up to date with the latest tax procedures and legislation.
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