Topics: Payroll outsourcing

7 benefits of outsourcing payroll

2 MIN READ | Posted on March 17, 2017
Written By VISHAL KURANI

7 benefits of outsourcing payroll

One of the most powerful allies of a modern accounting practice is an outsourcing partner. Increasingly, accountants are exploiting services available through outsourcing companies to diversify their business with minimum investment.

Outsourcing, with the flexible workforce to look after the maze of legislation, can significantly streamline the payroll process and help accountants gain a competitive advantage. These are some of the benefits of outsourcing payroll:

1. Cost savings

You will save a lot of money, which means you will make a lot of money. Think long-term. It is common to reduce in-house payroll processing costs by up to 50%.

2. Save on hiring

You don’t need to hire payroll experts in-house. Hiring is expensive, so you can cut the associated overheads (like training) that come with it by outsourcing. With outsourcing you may not even need any expertise in-house. Plus, outsourcing removes the worry about back-ups to cover holidays, sickness, and maternity, together with the time and cost it involves.

3. Faster turnaround time

Dedicated outsourcing companies can turn around the jobs faster as processing compliance jobs is what they do – often faster than you can. Again, that due to the economies of scale leading to greater productivity.

4. Scale your practice as fast as you like

You don’t need to increase headcount or move into bigger premises to offer a payroll service. In fact, depending on work volumes, it is possible to scale

5. Reduce risk

If you are running a complex payroll in-house, you will spend hours processing it and increase the risk of making mistakes. By outsourcing you will reduce your risk and also avoid fines.

6. Free up your time

You can focus billable time on delivering higher fee earning work, building and maintaining client relationships and growing the practice. Plus, it frees up your own managers from time-intensive recruitment, training and compliance duties, leaving time for truly strategic initiatives.

7. Peace of mind

When you outsource, you can put your mind at rest knowing a profession company that specialises in supporting accountants is handling the bulk of the work and taking care of legislation.

Our payroll outsourcing service is tailored to the needs of your accountancy practice, giving you the solution you need to make payroll a truly profitable service.  If you’d like to find out more, drop us an email on [email protected], call 0870 803 1033 or fill in our enquiry form. 

Continue reading about payroll:

  • How to profit from payroll services
  • How accountants can make the quiet period more productive

MAKING TAX DIGITAL OUTSOURCING
vishalkurani

Bringing forth rich marketing experience in the accounting industry, Vishal blends his wealth of knowledge and creativity to educate accountants about the pressing industry issues. He is passionate about marketing and helps accountants scale their practice through his detailed write-ups.

VISHAL KURANI

Bringing forth rich marketing experience in the accounting industry, Vishal blends his wealth of knowledge and creativity to educate accountants about the pressing industry issues. He is passionate about marketing and helps accountants scale their practice through his detailed write-ups.

Unauthorized copying or plagiarism of our content is a violation of intellectual property rights. We take such matters seriously and will pursue legal action to protect our original work. Anyone found engaging in such activities will be held accountable under applicable laws.

Originally published Mar 17, 2017 03:03:18, updated Apr 27 2021

Topics: Payroll outsourcing


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