Outsourcing Payroll

Five Things to Consider When Outsourcing Your Payroll

August 21, 2012 by Giddi Roteo

Payroll-

Your business has grown, and now the task of managing your weekly payroll has become unmanageable. Or maybe you – or your staff – simply don’t have the knowledge and expertise to take on the payroll every period while also trying to manage all of the tax and benefit issues that come along with the process. Whatever your reason for deciding to outsource your payroll functions, there are some important things to consider when you choose a service. It might be tempting to go with a local company or the least expensive payroll service, but when it comes to handling this vital procedure, there is more to think about than just proximity and cost.

Is the payroll system user-friendly?

Even when you hand off payroll tasks to an outside source, you still need to be involved with the process. You need to provide personal employee information, details about hours worked, benefits and deduction information, and of course, banking information. In some cases, this information is static, but inevitably there will be changes. When comparing service providers, request a trial run of the software that they use for information gathering to see how user-friendly it is and how efficiently you can add and change information. If the system is too complicated, try something else. Outsourcing is supposed to [Read more…] about Five Things to Consider When Outsourcing Your Payroll

4 Ways Outsourcing Payroll Could Benefit Your Business

July 20, 2012 by John Hughes

Outsourcing Payroll

If people are the heart of every business then it could be said that payroll is the blood. Everyone likes getting paid and in this economic climate, it is more important than ever that payroll is carried out on time and with the utmost accuracy.

It’s natural for business owners to want to be in control of their payroll but as an operational task, it can be extremely time-consuming. Nevertheless hiring a payroll manager can also be a costly affair as you will want to ensure that the person you take on is fully qualified for the role. Here are 4 reasons your business could benefit from outsourcing your payroll to the experts:

1. Outsourcing Payroll could help your business save money.

Payroll software systems can be costly and you will need to factor in the cost of employing someone to take care of payroll responsibilities. Labour costs of in-house payroll are not the only factor to consider; the price of postage, office space, stationery, printing and other costs may not seem like great expenses but can add up rapidly.

Running a cost/benefit analysis to estimate the overall costs incurred by your payroll each period compared to the fees charged by an outsourced payroll firm for a full payroll management service will help determine whether this is cost effective for your business. [Read more…] about 4 Ways Outsourcing Payroll Could Benefit Your Business