Easing Your Business into a Post-COVID World with Outsourced Payroll Services
As a response to COVID-19, many businesses, both big and small, have had to cut costs and retrench employees. Our world is changing and as we slowly head towards remote working, many entrepreneurs find that outsourcing payroll provides significant value to their bottom line. Besides saving time, money, and compliance headaches, here are four ways that outsourced payroll services can ease your business into a post-COVID world…
- A Worry-Free Payroll
Running any business means time is money, but by outsourcing payroll processing, which can include everything from VAT to enquiries to UIF, your business will save money on salaries and costly mistakes. As a result, this reduces your overhead costs, making life simpler for you and your HR department.
- Enhanced Data Security
In an environment where the stakes of a security breach grow with each passing day, watertight security is vital. In-house salary payments come with risks, such as identity theft and embezzlement, and as hackers continue to develop smart new ways to compromise systems, we now also have network compromises. Outsourced payroll services increase not only productivity and efficiency, but also the security of your organisation.
- Access to Expertise of Professionals and New Technology
The enterprise cloud revolution is finally here with new software leading the way in Accounting, Payroll and HR. Outsourcing payroll services provides expert advice on rules and regulations, thereby keeping businesses compliant. It also ensures the use of the latest software. As a result, you avoid irregular technology advancement costs and costly compliance fines, and you gain expert advice and a seamless payment service.
- You Get to Focus More on Your Core Business
By outsourcing your payroll, not only do you keep your company on the right side of the law, but you also free up important resources to focus on more business-critical work. HR employers can work more on strategic tasks that could further increase your bottom line.
As we progress into a post-COVID world, there’s little debate that the right payroll service provider can give your business a competitive edge. Outsourcing provides your business with capabilities, expertise, tools, and technology that are less attainable with an in-house manual human resource management system. Providing faster processing of information, this critical service frees up time in your company, saves your organisation money, reduces your compliance risks, and delivers the monthly payment experience your employees so rightly deserve.
Contact us today if you need help from a professional payroll service advisor to help you during this time where time is of the essence.