As chartered accountants, with over 90 years’ experience in the finance industry, outsourcing the payroll, to us, is something all businesses should consider. Running a payroll is very time consuming so let someone else take the burden from you, here are the top 5 great reasons for outsourcing your payroll:
Time is quite literally money when running a business, save time and let someone else do all the work. The cost savings associated with payroll outsourcing reflects time a company can win back by not doing these duties in-house.
Some payrolls can be very complicated. Outsourcing provides a wealth of experience at your disposal, something you are unlikely to have with a small in-house payroll. We know all the ins and outs of payroll related tax laws and latest government legislation.
As a payroll service provider specialist, we can process even the most complex payroll at great speed, providing a quick turnaround time on your payroll when required.
In-house payroll activities function as reliably as the people doing the work. With a payroll service, output, speed and quality won’t vary in accordance with holidays and sickness. There is always a risk that you may lose one of the key members of staff that deal with your payroll and all their knowledge walks away with them. If this happens you could find it extremely difficult to replace them, causing a logistical nightmare come payday. You also won’t have to spend time training new staff or helping them to understand your business’s payroll system.
There’s a lot to be said for the peace of mind that outsourcing payroll services can bring to a business owner or manager. Less headaches, hassles, stress, worries: You’re left to focus on running your business knowing your payroll obligations are dealt with.
Please get in touch with us if you would like more information.