Outsourcing Payroll vs. In-House Software: Which Saves More Time and Money?

Hi Forum,

I just wanted to know what the advantages are of outsourcing the payroll system to a 3rd-party consultancy. Also, please let me know what is more beneficial in terms of cost and time: using in-house payroll software or outsourcing payroll to a consultancy?

Thanks to all in advance.

Hi,

We are also outsourcing some positions to a 3rd-party consultancy. The advantages that we have experienced are:

1. Time can be saved for their salary process.
2. Documentation is handled by the consultancy.
3. There is no direct liability on the organization.
4. It is not mandatory to provide a certain percentage of increment which we have to give to payroll employees.
5. We are saved from all statutory audits and records - PF, ESIC, etc.

Benefits of outsourcing the payroll accounting services of your company:

• Relieves you from the tedious administrative and routine overheads.
• Reduces the manpower cost.
• Allows the customer to focus on their core business.
• Single point of contact for all payroll-related queries.
• Allows greater flexibility to the company when there is an increase in workload due to seasonal staffing.
• Benefit to the overseas customers because of the time difference between India and the customer country.

Is there anyone who can provide me with the required information related to the advantages of payroll outsourcing?

Considerations When Choosing a Payroll Provider

Try to find a reference in the same industry as your business and a business that also uses that particular payroll service. Are the services suitable for your business requirements? How flexible is the provider with adjustments? Does it have a satisfactory level of customer service? Is there any resistance in paying your payroll procedures? Is your data secure? Do they have any backup? Does the payroll service provider have sustainable clients? If any payroll issues are taken to court, who will be liable? What is the procedure for reporting? And most importantly, are they providing cost-effective payroll services?

Benefits of Outsourcing Payroll Services

Here, I am listing some key benefits of outsourcing payroll services.

1. Cost-Effective

The direct costs of payroll processing can be greatly reduced by working with an efficient payroll provider. Moreover, cost savings for the company on outsourcing payroll processing are extremely significant and can go up to 500% at times.

2. Hassle-Free

Outsourcing saves plenty of time. Free yourself from updating tax tables, submitting reports, and making payments. By outsourcing payroll, you can avoid these tasks and save your time.

3. Convenience

Management can now focus more on dealing with pivotal business issues instead of the nitty-gritty details. This, in turn, helps in saving time and energy that can be utilized more effectively.

4. Smart Dashboard

Our smart dashboard guides you through every single step. Just like your virtual personal assistant, it remembers important dates for you and ensures that your monthly payroll is well taken care of.

If you are looking for a third-party payroll company, we will be happy to help you.

www.payrollservicesindia.com

Email: [Email Removed For Privacy Reasons]

Direct Number: [Phone Number Removed For Privacy Reasons]

Regards, Brooks Consulting Private Limited

Advantages of Payroll Outsourcing

The main advantages of using payroll outsourcing are:

- Smooth Onboarding
- Timely Salary Payments
- Attendance Management
- Leave Management
- Labour Law Compliance - ESIC & PF
- Tax Deductions
- Addressing Tax Saving Queries of Staff
- Employee Reimbursement

www.payrollmanage.in

HR and Payroll Management Services

HR and payroll management services are an umbrella term under which a variety of HR outsourcing services are offered. Some of them are listed below:

- Online payroll services
- Rolling out offer and appointment letters
- Staff details on our payroll software
- Attendance management

For more information, you can visit: https://manpoweroutsource.com/hr-services/