Outsourcing your payroll can bring many benefits to your business. Not only will it free up in-house staff to focus on core business activities and strategic tasks, but it can provide added peace of mind that the process is streamlined and compliant with ever-changing payroll legislation.
6 benefits of outsourcing payroll
1. Cost savings: Outsourcing payroll can significantly reduce costs associated with hiring, training, and maintaining an in-house payroll team. It eliminates the need for expensive payroll software and reduces the risk of costly errors.
2. Time efficiency: Whether you operate a weekly, monthly or annual payroll, by outsourcing this process you can save valuable time that can be redirected towards core business activities. This allows in-house staff to focus on strategic tasks, leveraging data provided to support business decisions, future planning and growth. Staffing changes and absences will also not impact your payroll output.
3. Expertise and compliance: Outsourcing to a specialised provider ensures that payroll is handled by experts who stay updated on the latest regulations and compliance requirements. This reduces the risk of non-compliance and associated penalties.
4. Scalability: As your business grows, your payroll needs will evolve. Outsourcing provides the flexibility to scale services up or down based on your requirements, without the hassle of adjusting in-house resources.
5. Enhanced security: Payroll data is extremely sensitive, and outsourcing to a provider with robust security measures ensures that your data is protected against data breaches and cyber-attacks.
6. Access to advanced technology: Outsourcing partners often use the latest technology and software, providing you with access to advanced tools and systems without the need for significant investment.
Tailored payroll solutions
Different sectors and businesses have unique needs, and outsourced payroll services can be tailored to specific requirements and frequencies.
Even if you manage your payroll in-house, additional support around compliance checks on PAYE and employment tax advice, such as implementing electric car salary sacrifice schemes or reviewing pension offerings, are services you could benefit from.
Armstrong Watson has an experienced and dedicated team of more than 30 payroll professionals who understand the critical nature of payroll accuracy and can provide fast turnarounds, especially for weekly payrolls. Our robust payroll systems maintain full audit trails and detailed contingency procedures, ensuring reliability even during system outages.
For more information about outsourcing your payroll, please contact Karen Thomson, Partner, Head of Payroll, at karenthomson@armstrongwatson.co.uk or Matthew Nicholls, Payroll Business Development Manager, at Matthew.Nicholls@armstrongwatson.co.uk. Alternatively call 0808 144 54575.
