Many companies, particularly in the HR department, are increasingly looking to outsource certain functions, and one of the first administrative tasks up for consideration when it comes to outsourcing is payroll. Whatever the size of the company, it seems that payroll outsourcing is becoming a popular decision although there are still many companies who feel reluctant to consider this.
Your company may be concerned about outsourcing functions such as payroll as they feel that there will be a lack of control over data, costs and the quality of service. Your company may also be concerned at handing over sensitive employee information to another company, that information that you require might not be accessible at your fingertips, or that you may lose control of costs as services are handled by an outside company.
Here at NorthgateArinso, we work with businesses to help them feel confident in handing over the management of their payroll and show them that payroll outsourcing can bring substantial benefits to their company. Far from costs spiralling out of control, there can be considerable cost savings when outsourcing payroll, costs which can be quantified in terms of investment in software, wage bills and also the time it allows HR staff to concentrate on more strategic business tasks.
Even in large companies, the payroll function is a relatively small area of business, and so outsourcing payroll is more efficient and gives more flexibility. A company specialising in payroll outsourcing will invest time in your processes and training which means that, if your company grows, you can handle the increased workload, or if payroll technology changes, your company will benefit from the latest best practice without having to directly invest in the software.