London, UK -- (SBWIRE) -- 01/31/2013 -- With Real Time Information (RTI) PAYE reform set to change the landscape of the way employees get paid, head of Bond Payroll Services, Neil Lagden, , reveals the ten top reasons to outsource your payroll.
Lagden said, “Payroll outsourcing is so much more than finding someone to process your pay slips each month. A number of benefits of payroll outsourcing lie herein.”
So here are the top ten reasons to go down the outsourcing path as given by Lagden.
1. Reduce cost – By outsourcing your payroll department, the requirement to invest in up to date software, headcount and all the other costs associated with running a payroll team is removed.
2. Reduce headcount – Organisations are always looking to run an operation with the leanest headcount possible.
3. Improved efficiency – Streamlining the organisation’s processes internally allows payroll providers to pick up the time consuming duties surrounding payroll, which helps to increase efficiency within the business provided by the payroll outsourcing advantages.
4. Business continuity – Having the payroll function outsourced means that the reliance for disaster recovery and business continuity lies with the provider and not with the business.
5. Mitigate risk – Through outsourcing, organisations push the responsibility for compliance to the provider, as well as leaving the responsibility of payroll to an organisation whose core business it is, therefore, minimising the risk of errors which may occur on the payroll.
6. Increased knowledge pool – Rather than having one or two payroll staff who supports the business with limited industry knowledge, through outsourcing, organisations have access to many staff within the outsourced payroll business, offering a wealth of industry knowledge and experience.
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Payroll Report is designed to engage and inform on the payroll questions and challenges faced by small to medium sized enterprises to achieve payroll management throughout the United Kingdom as well as offering sector specific payroll information.
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