Why should you consider payroll outsourcing?
A number of companies already know the benefits of payroll outsourcing and reap full benefit of it. Still some businesses feel an in-house payroll administrator is a must have staff. But that is surely not the case in this technological world anymore. Let us give you a quick overview on how could you benefit by outsourcing payroll.
Massive cost savings with payroll outsourcing
Once you are with a payroll company for payroll services you immediately drop fixed expense that you need to incur to keep an in-house payroll administrator. Not only that your cost is completely dependent on the payroll requirements of the company but also there would be massive cost benefit, like at CBM Accounting, the payroll fee starts from just £1.50/payslip. Now you must have started thinking about savings already. Let's move on to mitigate your risks now.
Payroll outsourcing reduces staff dependency
By having a payroll company running payroll for you, you don’t need to worry about recruiting a right person, then giving them training and when they are trained well to serve the business they are already good to proceed in their career and look for better opportunity. We all know how difficult it is to find and retain the right person. Once you are with a payroll company, you are confident that you service level would remain the same and you don’t need to train or retain any staff, all that hassle is passed over to the outsourced payroll administrator. Interesting, right?
No Software/Hardware maintenance
To run payroll in-house, you would need a computer and a software that could be used to run payroll and submit RTI’s. A desktop based Payroll software subscription would need to be renewed annually which could be an expensive option and you also get stuck with it for the whole year. If you outsource payroll, you don’t need to maintain any software or hardware at all, a specialised team look after you payroll, keep everything up to date and accurate.
By looking above at just a few benefits of outsourcing, It’s definitely a better option to outsource your payroll and it makes it even more attractive with just £1.5/payslip.