When it comes to running a business, whether big or small, payroll processing can sometimes feel like a war. Payroll processing is a lot more than what it looks like. In addition to getting your employees paid on time, payroll involves the calculation of tax deductions, paid and unpaid leaves, employee benefits, bonuses, and much more. It requires attention to detail and scrutiny if you want to avoid fines and complaints. This makes it quite clear why payroll managers are highly-trained individuals with years of experience because the job isn’t that easy!
Instead of learning the art of payroll yourself or hiring internally, outsourcing payroll is a great option for start-ups, small businesses, and medium-sized businesses alike. Outsourcing isn’t a new concept and has already proven to be beneficial for organizations. It is both a time and money-saving exercise. Why not spare yourself the pain of spending sleepless nights with spreadsheets staring into gridlines and numbers by outsourcing it.
Even though it might sometimes seem hard to make changes to the ongoing business processes, there has never been a better time to outsource your payroll. Payroll systems these days are generally cloud-based, and hence extremely agile. It can easily scale up or down as the business needs to change. For repetitive tasks, these can be automated, leaving your resources to focus on being the best in your business space that you can be.
If you’re still skeptical about outsourcing your payroll, here are a few reasons why you should.
- Outsource payroll – It’s always quicker.
Whether you have 10 employees or 100 employees, payroll processing demands significant time and attention. When you consider the time spent processing and managing payroll, outsourcing to a trusted service provider may seem attractive. Time is money, after all.
- Outsource payroll – It’s always secure.
Using email for sensitive documents is inherently unsafe and opens the door to hackers easier than many might think. Similarly, the use of spreadsheets and out-of-date technologies, combined with a lack of proper security across all areas of the company, creates the risk of a data breach and violation. A secure portal protects your employees’ sensitive information.
- It ensures payroll tax compliance.
This is a big one. One of the most daunting tasks for small to mid-sized businesses is complying with laws, regulations, and mandatory rules, especially when various government agencies are involved. An effective and experienced payroll provider will ensure that your payroll process complies with the current rules and regulations.
- It’s automated and remote.
Cloud-based payroll software can be run anywhere with internet access. Now with people working remotely, there’s no need to be onsite, no need for a person to manually type in hours or print checks, and no need for anyone to be involved with paying employees. Employees input their time, the system tracks it, and they get paid automatically with necessary approvals in place.
- It’s customizable.
Whether we’re experiencing a pandemic or other critical business issues, there’s no reason to pay for things you don’t need. With unpredictable times and changing business needs, it is always flexible to add or subtract services.
Outsourcing payroll can be successful as both a short- and long-term solution for organizations.
Procloz would be more than happy to assist you with payroll outsourcing. We will be happy to provide you with a customized solution that meets all of your business’s requirements. We’ll help you remain compliant and efficient, with outsourced payroll services that help your business thrive.