- Home |
- Blog |
- 2017 |
- 2 |
- Outsourcing payroll: a new, more cost effective solution on the Block
Blog posts written on Thursday February 2017
Posted Thursday Thursday, February 9, 2017 by Administrator
Outsourcing payroll: a new, more cost effective solution on the Block.
Running a staffing agency can be hard and without the right tools it’s getting harder. Historically there were good reasons of outsourcing some of the workload such as the pay and invoicing processes.
The argument was that a specialist Payroll or Umbrella Company can free up time and allow you to focus on the core areas of your business. They would also argue that they could be tax efficient and no net cost (to you). HMRC have successfully argued for changes in regulations that eliminate these tax avoidance savings in many many cases.
Payroll is a specific challenge and often a least liked job that simply just has to be done. It is also absolutely essential to get payroll right! Paying workers incorrectly or not paying them is a short route to disaffected, unhappy employees and leads ultimately to them going elsewhere.
Here are the top 10 benefits of using our solution:
- 1. Saves money: any umbrella company will charge you what appears to be a small fee (insert your actual costs here): say in round terms £10 per paid employee per payment run. So twenty employees paid weekly cost around ten thousand pounds or £500 per year per employee. The Umbrella or Payroll Company may say the employee pays, but offer one of you employees a £500 pay rise and see how long it takes for them to accept it. A pure payroll company will charge significantly less but only processes your payroll.
- 2. Increased control and gives higher customer and worker satisfaction. Timesheets represent work done and profit, keeping a close eye on them identifies trends or errors before they threaten your business.
- 3. Improves accuracy: payroll mistakes are be painful, payroll mistakes anger employees and invoice mistakes anger customers: both can cause problems legally.
- 4. More reliability: humans make mistakes, copying data can lead to mistakes, keeping the data for your payroll within one integrated package means the absolute minimum of external sources for errors.
- 5. It’s quicker than outsourcing. You don’t have to access to specialists in payroll. It is much quicker to click one button: calculating each shift pay or invoice amount takes about a tenth of a second.
- 6. Gives you great insight: Reports on margins, employee performance and profitability instantly available the second the pay and invoices runs are complete.
- 7. We are accountable to HMRC, if anything ever does go wrong then it is our responsibility to fix it with HMRC the same day.
- 8. Increased security: No additional 3rd party: details only leave your secure business database by direct secure point to point to communication (https) to HMRC or your Bank. This effectively prevents your employees and customer details falling into the wrong hands.
- 9. Peace of mind: you know it’s done because you clicked on the button to do it and the system reported back directly to you that HMRC was notified, detailed payslips calculated and emailed, detailed invoices sent.
- 10. Finally our software ensures legal compliance providing workers, automatically notifies customers and employees of fills, allows your customers to directly sign timesheets, monitors and checks right to work and training requirements, calculates pay and invoices, notifies HMRC and gives you valuable management information reports. This usually costs a similar figure to that you would be paying for just payroll processing and is a tenth of the cost of some Umbrella companies rates.
Cal us now on 01491 845 400 to make your savings and streamline your agency or staff bank.
If you found this information useful, please share it!
0 comments for "Top 10 benefits". Leave one here: