If you are finding your payroll unnecessarily stressful and frustrating it does not need to be, you should consider payroll outsourcing. If you are finding deadlines around pay day difficult to meet, and chaos and raised voices, then payroll outsourcing could provide an excellent solution for your business.
By doing a good job, we at Payroll Options like to think we are improving more than just your payroll.
Free-up and Focus Your Resources
If you are processing your payroll in-house you may find you are spending a surprising amount of time, money and resources on putting your payroll through every payday. If you could divert that time back to your business core activities, you could achieve surprising results.
The trick then is to find the best fit with your business, to maximise the efficiency gained.
Gain access to payroll Expertise
You do not need to employ a full time payroll team if you outsource. Many companies do not have complex payroll all of the time, but it is reassuring to know there is knowledge and experience available when required.
Payroll outsourcing to Payroll Options provides access to a full time payroll team at our bureau. We do not expect you to have any knowledge of payroll and can accept instruction in plain English.
Your payroll hangs on a single member of staff
If absence of a critical team member could result in disgruntled employees not getting paid, and fines from HMRC, then payroll outsourcing is a good solution to look at. Your payroll is now under the care of a whole team of people, where one absence would have little or no impact.
Providing the information to HMRC for every pay day
This does not need to be difficult, and RTI submissions are part of what successful payroll outsourcing will do well. Payroll Options have multiple data validation and audits in place to ensure RTI compliance with every payroll.
Paying your staff the correct amount
If you have more than 10 staff you should be considering BACS payments, and even with less staff this can be more convenient. The disaster of switching around staff payments can have larger repercussions, and so accurately paying the staff based upon an accurate payroll is paramount.
Payroll outsourcing to Payroll Options brings the opportunity for automatic payments via the BACS system. This is more reliable than using .csv files with banking portals, and far safer than keying in individual amounts.
Reducing your Overheads
If you are processing your payroll in house then you need to consider more than just the cost of the payroll software:
- Time cost of putting the payroll through the software
- Time cost of double checking everything and submitting RTI
- Time cost to pay the employees
- Cost of holiday and sickness cover
- Training Costs
- Cost of secure IT equipment
- Cost of secure back-up
Payroll outsourcing, as well as all the other benefits, can often save a company money.
SaaS or Bureau?
We sometimes have people compare a bureau with a cloud based SaaS solution, which is not really accurate. SaaS can be an excellent solution for some companies, but would be more usefully compared to a local software solution.
A bureau can do a lot more, and be more responsive to an individual company’s needs, although sometimes it can be difficult to spot the difference from a company’s website.
Of course payroll outsourcing is worthwhile, and of course you should contact Payroll Options.
We should add that we are a payroll bureau offering a payroll outsourcing solution, and so our opinion may be biased.