16 May 2023

What are the top five reasons businesses choose to outsource their payroll?

There are many reasons why businesses choose to outsource their payroll, but here are five of the top reasons:

  1. Time-saving: Payroll processing can be a time-consuming task, especially for small businesses with limited resources. Outsourcing payroll frees up time for business owners and staff to focus on other core activities, such as sales, marketing, and customer service.
  2. Cost-saving: By outsourcing payroll, businesses can save on the costs of hiring and training dedicated payroll staff, as well as the costs of payroll software and infrastructure. Additionally, outsourcing payroll reduces the risks of errors, late payments, and non-compliance penalties, which can also save businesses money.
  3. Compliance: Payroll processing is subject to many regulations and legal requirements, including tax withholding, benefits administration, and record-keeping. Outsourcing payroll to a specialist provider can ensure compliance with these regulations, reducing the risks of fines and legal action.
  4. Expertise: Payroll processing requires specialised knowledge and skills, which may not be available in-house. Outsourcing payroll to a provider with expertise in payroll processing can provide businesses with access to this specialised knowledge and skills, improving the accuracy and efficiency of payroll processing.
  5. Scalability: As businesses grow and expand, their payroll needs may also grow and become more complex. Outsourcing payroll provides businesses with the flexibility to scale up or down their payroll operations as needed, without having to worry about managing additional staff or investing in new infrastructure.

If you’re looking for payroll management solutions, here’s how BM Connect can help:

Compliance and expertise: Payroll management can be complex, with various regulations and requirements to adhere to. BM Connect offers specialist knowledge and technology to ensure that your payroll processes remain compliant with the latest regulations. This includes staying up-to-date with recent developments such as auto-enrolment, apprenticeship levy, and Covid-19-related schemes. By relying on us, you can have peace of mind knowing that your payroll is being handled by experts in the field.

Save time: Outsourcing your payroll to BM Connect can save you valuable time. Instead of spending hours on payroll-related tasks, you can focus on other core aspects of your business. We take care of payroll processing, including tasks such as bacs processing and workplace pension schemes.

Access to payroll reports and statistics: BM Connect provides industry-leading payroll software and delivery systems. This means that you can easily access your payroll reports, payslips, and statistics whenever you need them. The software streamlines the process, making it more efficient and convenient for you to manage your payroll-related data.

Integrated services: BM Connect offers a suite of outsourced bookkeeping, management accounting, and payroll solutions. This integrated approach allows you to consolidate your financial management processes, making it easier to track and analyse your business’s financial performance.

To find out more about BM Connect’s payroll services and choose a package that suits your specific needs and budget, you can request a free, no-obligation quote. Simply contact us to discuss how we can assist you with your payroll management requirements.

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