The benefits of a specialist payroll service provider

Adam Anstey, Managing Partner in Hertford for Azets,

on why outsourcing

Payroll May Be A Way To Give Your Business A Boost

As a business owner, it’s likely your focus is often split between the various areas in your organisation that require regular attention. One of these areas, which is of high importance, is payroll. It’s an ever increasingly complex process, influenced by a substantial amount of regularly changing legislation that needs to be taken into account when calculating and processing.

Managing the complexity of payroll

Ensuring your payroll process is timely, compliant and efficient is an essential task but it can often eat into the limited time you have available. This can ultimately divert your focus from other core business areas and impede your progress towards achieving your long-term goals.

Exploring payroll outsourcing

Here are a few reasons why you should consider outsourcing your payroll process:

1. Increased expertise and compliance assurance

By outsourcing your company’s payroll processes, you are instantly tapping into a wealth of expertise, experience and knowledge in payroll services and, depending on the set up of the provider, possibly other similar fields such as tax and key business advice.

2. Optimise your time and resources

Handling your payroll process internally and on your own can sometimes inadvertently hold your business back from unlocking its full potential. By outsourcing your payroll activity you regain the freedom, time and resources to fully focus on other areas that are key to your business’s success.

3. Enhanced data security

Payroll data is extremely sensitive and requires robust protection against potential data breaches. However, effective, high-quality security may not be cost-effective for many businesses.

Most modern payroll service providers will use the latest high-end cloud payroll software, ensuring end-to-end encryption of all payroll data for clients.

4. Streamlined payments

Having timely and accurate payments every time is critical for employee satisfaction and trust.

Payroll service providers make use of bespoke automated systems, minimising the risk of errors and ensuring seamless, accurate and timely payslips for employees

5. Cost savings

Depending on your provider, they are likely to make use of economies of scale when it comes to data security systems, payroll management systems and training, meaning these costs are less likely to be reflected in your individual bill.