Payroll Service Providers – What You Need to Know

An accurate payroll is an oft-overlooked cog in a business’s machinery – and although it a thankless task, employees in any organisation expect to be paid the right amount and at the right time.

Dare to get it wrong, though, and employee dissatisfaction is likely to go through the roof – which is why payroll service providers are worth their weight in gold.

Designed to take over payroll and other employee related functions, a payroll service provider should offer various flexible payroll services and solutions, which will leave you free to focus attention on other important business tasks.

An outsourced payroll service avoids the expense of staffing and processing your own in-house payroll, instead offering a team of payroll specialists to deal with the complexities of seemingly endless changes to government legislation.

As a business owner, all you have to do is supply your payroll service provider with employee information and they’ll do the rest. Most use innovative and secure payroll software, which will be fully recognised by HM Revenue & Customs (HMRC).

Is a payroll provider the right move for your business?

The benefits to your business by using outsourced payroll services are clear.

Not only will utilising the service free up valuable staff members to focus on other tasks, but, in times of fiscal turbulence, the opportunity to streamline your business and reduce numbers on the payroll is a very real management decision.

However, the service you receive depends on the unique needs of your business, and whether you decide to outsource the whole of your payroll or just the final processing. Choosing a provider who can offer you tailored solutions is advisable, and the following options should be commonplace:

• ·         Advice on tax and National Insurance issues
• ·         Helpdesk support
• ·         Security-sealed payslips or secure e-payslips
• ·         Management reports

Finally, by trusting a payroll service provider with processing of employee salaries, it frees up time to allow your organisation to concentrate on business growth, reduce overheads and benefits from a proliferation in profits – and that means an external payroll service will, very quickly, begin to pay for itself.