Why Should I Outsource Payroll?
There are many reasons why the payroll should be outsourced. Here I shall enumerate five reasons why you should consider outsourcing the payroll processing task to a third party.
- Time. No matter how many employees a business has, processing payroll demands a lot of time and attention to detail. Pay period follows pay period, each time requiring the business owner or their payroll person to type in large amounts of data and double-check for any keying errors. That’s time taken away from critical tasks like building revenue and serving valued customers. Outsourcing payroll gives owners more time to focus on what matters most to them. In many cases, they’ll only need to contact their payroll company representative once each pay period.
- Money. The cost to outsource to us will always be cheaper than the salary costs and benefits of an employee. Plus we will never call in sick or take any type of leave.
- Accuracy and Enhanced Security. Payroll processing is a complex and potentially risky business operation. Even with trusted employees, there is always the risk of identity theft, embezzlement, or tampering with company records for personal gain. How safe and secure is payroll data on the company’s server or network? This nagging question can consume a business owner’s energy and attention as well.
- Compliance with government regulations. Government rules and regulations are always changing, and small business owners can’t be expected to stay on top of these changes. Generally speaking, small business owners aren’t experts in the complicated world of government tax regulations. At the same time, they’re legally responsible for any cases of misrepresentation or a failure to accurately report employment taxes to government agencies. These mistakes can lead to audits and penalties — situations no small business wants or needs.
- Peace Of Mind. A professional payroll company employs individuals who know payroll processing inside and out. These individuals specialize in the complexities of payroll taxes, as well as compliance with government regulations. It’s what they’re trained to do and part of the guaranteed service they provide. Savings in time and money, greater data security, and the comfort of knowing experts are handling your payroll functions — these are all compelling reasons for you to pick up your telephone and speak to us about outsourcing your payroll processing task to us.