From more resources for core functions to taking a major worry off your plate, here are five answers to the question, “What are some advantages of a Payroll BPO (Business Process Outsourcer)?”
- More Resources for Core Functions
- Puts Time Back in Your Day
- Saves Money on Labor Costs
- Secures Employee Data and Privacy
- Takes a Major Concern Off Your Plate
More Resources for Core Functions
Outsourcing is a solution that offers us a way to maximize our business resources, and outsourcing something as mundane and repetitive, yet complicated and crucial as payroll management, certainly provides us with the opportunity to gain more mileage out of our limited resources.
Payroll outsourcing helps employees save time and effort, resources they can divert to their core responsibilities. In a business environment where every employee delivers their share of expertise, these benefits go a long way in improving in-house productivity and efficiency
A Payroll BPO Puts Time Back in Your Day
One advantage of a Payroll BPO is that it can help you avoid time-consuming and difficult tasks like payroll tax filing and paying out employee benefits.
We often see these things as a burden for small businesses and can be difficult if you have numerous employees. Doing it in-house can be a lot of work, and you are prone to errors, which costs time and money both for the company and employees.
When you outsource your payroll, it’s handled by experts who know the ins and outs of the system.
This means they can help you avoid mistakes and ensure everything is done correctly. They also have an in-depth knowledge of the laws that affect payroll taxes, so they can ensure that your company complies with any regulations.
Save Money on Labor Costs
One of the best advantages of a payroll BPO is that it can help you save on labor costs. Payroll BPOs are highly skilled and experienced operatives that can handle large volumes of data incredibly quickly and efficiently.
This means that payroll processing can be done much faster and more accurately than if it were being handled internally. Additionally, payroll BPOs are more cost-effective than hiring in-house staff to handle payroll processing.
By outsourcing this part of your business, you can save money on labor costs and still get the same high level of service and accuracy that you would get if you kept it in-house.
Secures Employee Data and Privacy
Data security and privacy are of utmost importance for payroll. With all the conversation surrounding pay equality and wage transparency, businesses have to take extra steps to ensure employee data is secure.
Outsourcing payroll allows you to keep employee data confidential and away from the prying eyes of the competition. In addition, employee data is kept secure with the use of encryption, advanced analytics, and other industry-standard protocols. This level of data security will give you peace of mind, knowing your payroll data is protected.
A Payroll BPO Takes a Major Concern Off Your Plate
As the CEO of a fully remote branding agency with staff located across three states, I enlisted a Payroll BPO to ensure that we comply with all state payroll and tax laws.
My Payroll BPO takes on not only the work but the responsibility of getting it right. With that burden and worry off my plate, my leaders and I can focus on what we do best. And we can confidently grow our team with the right people in the right roles, regardless of geography.
Click here to learn more about Corban OneSource’s payroll services and all that it entails. Questions? Contact us! We would be happy to show you how we can take Payroll off your plate. We Specialize in companies with 75 to 6,000 employees.