7 Benefits of Outsourcing Payroll for Accountancy Firms

17 September 2024

One of the most powerful allies of a modern accountancy practice is an outsourcing partner. Increasingly, accountants are exploiting services available through outsourced payroll providers 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. Here 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 payroll services. 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 with payroll services outsourcing.

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

This is one of the most underrated payroll outsourcing benefits. When you outsource payroll, you can put your mind at rest knowing a professional company that specialises in supporting accountants is handling the bulk of the work and taking care of legislation.

Must Read: Making Payroll Profitable | Payroll Outsourcing for Accountants

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, book a free consultation with our experts here.

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How Can QXAS Support Your Firm with Payroll Work?

Payroll is tedious and prone to error. As a market leader in outsourcing, we at QX understand the challenges of payroll and offer tailored payroll outsourcing solutions to support your firm. Our team of 1,000+ accountants and payroll professionals are well-versed in UK payroll legislation and stay up to date with the latest technology. We work on all leading payroll software tools, so you don’t need to switch your existing systems.

If you are planning to migrate to a cloud-based payroll software, we offer implementation and training support to ensure a smooth transition. Here’s why 350+ accounting firms trust us for outsourcing:

• Two decades of industry experience in supporting accountancy firms through outsourcing
• Multiple engagement models and tailored solutions
• 99.9% accuracy; efficient and error-free payroll processing
• Quick turnaround times
• All income types covered: weekly, monthly, bi-monthly, quarterly, and annual
• Admin assistance: We help with Outlook management, query resolution, HMRC communications, and more
• 100% secure solutions: GDPR and ISO 27701 compliant

Ready to learn how we can support your firm with your payroll needs? Call us at +44 208 146 0808 or email us at [email protected] to talk to our experts.

Continue reading about payroll:

• Building a Profitable Payroll Firm Without Adding New Staff
• 300% Profit with Payroll Outsourcing: Read Case Study

Priya Pathak

Priya is a seasoned payroll professional with over 13 years of extensive experience in UK and Ireland payroll. She specialises in delivering accurate, compliant, and efficient payroll solutions that support business growth while ensuring employee satisfaction.

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