Making your business payroll cost effective
Cost effectiveness
Big business and corporations can afford to maintain payroll departments or integrate them with HR or other office departments. For small SME’s businesses however, an in-house payroll service is just not cost effective. If you calculate the hours you or your employees spend on payroll-related issues and accounts, plus computer and software costs, training costs, printer sundries, printing and distributing payslips, creating tax documents and employee queries, questions and complaints chances are you will be eating into your profits.
Saving valuable resources
Having your own payroll department will consume a large proportion of your staff resources and their time, If the staff in charge of the payroll are not trained specifically to deal with payroll or its only one of the many functions, they have in the day today running of the office, it can become a nightmare if things don’t run smoothly, and things become complicated. The benefits of outsourcing the payroll include freeing up these floating office staff so they can concentrate on the profit generating aspects of the business and other essential tasks. You may even be able to reduce your staff’s size, plus if the economy changes or the order book slows up it allows you to pivot and cut costs quickly. On the positive side it also enables you to shift up a gear when times are good and quickly implement everything that comes with employing more staff so you can expand quickly.
Save money training cost for staff.
Training staff in new software systems can be very expensive. For smaller companies this is a massive problem. It can also be very expensive to employ highly trained staff with the skills to overcome problems and software issues that come with a state-of-the-art payroll system. For smaller businesses where the payroll role is not enough to warrant a full-time employee who spends 90% of their time on payroll, you will more than likely have to get in a qualified trainer to teach them, and if they leave you have to train someone new all over again incurring further costs. Not only will your staff have to be competent at payroll and the software systems, they will also need to have a good knowledge of legislation regarding tax and employment law.
Getting the benefit of experience
Payroll structures can be very complicated. It pays to have someone with a wealth of experience at your disposal which is something you are unlikely to have with a small in-house payroll department or staff who are functioning as jack of all trades to keep the office in order. A good payroll service provider will know all the ins and outs of payroll-related tax laws and latest government legislation and be efficient at implementing it.
Save time and adapt quickly to changes in the business cycle.
In today’s business environment things can change fast and as a business you will need to be able to adapt as quickly as possible. As payroll service providers we are specialists, we can process even the most complex payrolls at a great speed, providing a quick turnaround time on your payroll when required.
Accuracy
Payroll mistakes are annoying stressful and can cause all types of problems ranging from the Inland Revenue discrepancies to angry staff who haven’t been paid correctly. An independent specialist payroll service provider is far less likely to make a serious error than untrained or inexperienced staff. You are paying them for their expertise, knowledge, and first-class checking procedures that they have in place.
Reliability & peace of mind
Your In-house payroll are only as reliable as your staff who run it, if the person who does your payroll is suddenly taken ill or calls in sick on the day before imputing all the data for wages that month, what’s going to happen? With a payroll service, output, speed, and quality won’t vary in accordance with holidays and staff sickness.
There is always a chance that you may lose one of the key members of staff that deal with your payroll and all their knowledge goes with them. When this happens, you could find it extremely difficult to replace them, causing a logistical nightmare come payday. You also won’t have to spend time training new staff or helping them to understand your business’s payroll system.
Flexible packages to suit your business needs.
By using an outsourced payroll provider, we can offer a variety packages that are flexible to meet your specific business needs, so you don’t end up paying for something that includes services you don’t need or misses key features that you do need.
Worry Free
By using a professional payroll accountancy service, you are hassle and worry free and can concentrate on running your business and doing what you do best.
Local and personal service
Angel bookkeeping and accountancy service, can take care of all your payroll needs. We are based in Worthing Sussex but are happy to provide our first-class payroll services to all businesses throughout the UK.