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Why outsourcing your payroll is a great idea

By Sylwia Tunnicliffe

23 May 2022 : Industry News

The demand for payroll business solutions is on the rise and more businesses are making the decision to outsource their payroll and now consider this as an essential part of their business operation. 

Offloading your payroll may seem a daunting idea at first – the thought of trusting something as important as your company’s finances to people outside the company – but there are multiple benefits for those that do. 

The main reasons businesses make this move include the value of time and resource saved and the peace of mind it provides by having an expert in control. It gives business owners confidence that everything has been taken care of properly - resulting in a happy team, that are paid correctly, each and every time (with no nasty hiccups along the way!) After all, your team are your biggest asset. 

There are many benefits to offloading your payroll. Our Head of Payroll, Sylwia Tunnicliffe, shares 5 of the top reasons why we think it’s a great idea! 


1)     Helps you be more time-efficient

Offloading your payroll will feel like a weight lifted from your shoulders. Sometimes the smallest of payroll tasks, can end up taking the most amount of time. You will be able to focus your valuable time and energy on the bigger picture instead of worrying about whether you’ve calculated the correct NI contributions or student loan deductions for your team.

It will also reduce the need to train in-house finance or HR teams, and will allow them to focus on key day-to-day tasks, that will help drive the business forward. 

2)    Saves you money in the long-term

We’re not saying that offloading your payroll won’t come with fees, but seeking professional support will save you a lot more money in the long run, such as having to pay fines when mistakes happen.
 
With ever-changing government regulations, it’s important that you’re always ahead of the game. Failing to do so could mean a lot of time and stress having to put things right. It’s often your company that’s held liable if any irregularities in the payroll are detected. Putting your payroll into the hands of a specialist team means it’s their job to keep ahead of these changes and ensure they’re implemented correctly. 


3)    Beefs up your security 

Even if your software is secure, there are other factors to consider, including the safety of the server the data is held on. Luckily, our payroll providers have state of the art, secure, cloud-based technology, and procedures in place to help detect any fraudulent activity to ensure your employees’ data always remains safe. 

Secure cloud-based servers, also seamlessly allow employees to access relevant data at all times, making it easy to check payslips, or amend personal details.


4)    Provides a flexible solution for a changing world

As we all know, every business has different needs. When offloading your payroll to our expert team, you can choose a tailored package that suits your individual requirements. This way, you won’t be paying out for any unnecessary costs for services that you don’t need, and it makes sure you have access to the key features that you do need. 


5)    Keeps you on the right side of the law 

Legal and compliance requirements relating to payroll are often complex. By outsourcing payroll to a team that is knowledgeable about all the latest laws, you will be one step ahead of ever-changing legislation and mandatory rules. 

It’s crucial that you put your trust in a provider that’s the right fit for your business. Making this decision will have a positive impact on your company as it allows you and your team to focus on building a successful business. 

If you’d like to talk through your payroll needs or just get some initial advice, please give us a call on 01782 279615. 

We’d love to talk through how we can deliver great things, together.  

 

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