In business, time is money.
Consequently, saving time means saving money, which is why your business should seriously consider outsourcing its payroll services.
But is it right for your company?
Regardless of the size of the firm, it’s important that employees are paid promptly and accurately – and that’s before you consider constantly changing government legislation.
As a result, millions of businesses around the globe rely on the expertise of a payroll service provider to relieve the pressure and deal with regulatory aspects, which leaves business owners free to focus on other core business undertakings.
Before choosing your provider, though, it’s prudent to explore the options available to ensure they offer the facilities your business requires for proficient payroll processing.
Read on to discover the options available for companies looking to outsource all, or part, of their payroll …
Standard bureau service
With this option, your payroll services provider will take full control of your payroll – calculation of the payroll and the delivery of wage slips – and all you need to do is supply them with the correct employee information.
Enhanced bureau service
An enhanced bureau service offers the flexibility of having access to the payroll software in-house, but your provider takes care of the actual processing and payslip production. Most providers offer to install the software within your business, with some offering the ability to access it through Cloud.
Fully managed payroll service
A fully managed payroll service means that the provider you choose becomes your payroll department. They manage every aspect of the payroll process and communicate with HMRC on your behalf. Additionally, they offer a helpline for employees to ring if they have any questions regarding payroll.
Bureau with integrated HR
Choosing a payroll service provider who offers the option to access their software means your business can benefit from an integrated HR and payroll solution. Most importantly, it allows your employees to gain access to payslips, P60s and P11Ds with the minimum of fuss.