4 Reasons Why Outsourced Payroll Makes Sense
May 15, 2015
While some business opt to handle the payroll function internally – through manual bookkeeping, in-house bookkeeping or payroll software – increasingly, small to medium business owners have come to prefer the expertise of professional payroll providers. Outsourcing payroll, they've found, enables them to focus on processes and strategies that directly affect the future of their business.
Here are just some of the reasons many small to medium business owners find benefits in outsourcing payroll.
Outsourced Payroll is Cost Saving
Clients who move to an outsourced payroll service invariably gain significant costs savings compared with an in-house payroll staff. Costs such as salaries of employees involved in payroll, licences, office accommodation, and training.
Outsourced Payroll Adds Stability
What happenings with your payroll staff resign or take holidays? Payroll can be such a technical function with lots of complex requirements that training a replacement of back-up payroll staff can be extremely time consuming and costly.
Outsourced Payroll Ensures Expertise
It’s our business to remain current with all laws, regulations and best practice associated with payroll, outsourcing enables clients to tap into our specialist expertise. One of the most important duties for any business that processes its own payroll is the job of keeping up with the latest payroll legislation to ensure they remain safe and compliant.
Outsourced Payroll Enhanced Security
Payroll processing a complex potentially risky business operation. Even with trusted employees, there is always a risk of identity theft, embezzlement of funds, or tampering with company records for personal gain.
So regardless of the number of people employed by your business, attending to payroll demands a great deal of time and attention to detail, either by the business owner or a staff member. If you are ready to get back to your core business and release the pressures of payroll within your business please give us a call on 08 8922 0000 or shoot us an email.
Tropical Business Solutions
Director at Tropical Business Solutions.