Payroll Outsourcing: 7 Reasons to Choose

Every company in any industry needs to provide payroll on a regular basis. Many businesses, especially experienced ones, prefer to outsource this process. They do this for a reason. First, payroll is associated with great responsibility and risk. Mistakes in this area are punishable by serious fines. And making everything without mistakes is quite a long and time-consuming process.

However, not everyone understands the importance of payroll outsourcing. There are so many questions about whether they need it at all. And how to find a good specialist, and what qualities should he/she have. In the following article, all of these details are considered, as well as seven points denoting the advantages of payroll outsourcing for your business.

It is a very rare case where it is preferable for a company to do the calculation in-house. This is the case when it is critical for the business to maintain confidential employee payroll data. It is also those companies where the same employees have been working for a long time. If there is a low turnover of employees, the amounts of salaries will be almost unchanged, and their calculation will be simpler and quicker.

However, quite a small number of companies fit these criteria. This means that most companies still benefit from outsourcing in this matter for both economic and other reasons. This exposes companies to great risk. For instance, a trivial error can cost a great deal of money, nerves, and litigation. To avoid this, you can use the services of third-party specialists.


Advantages of payroll outsourcing

Today, many companies trust payment calculation and accrual to another party. Usually, in this case, the process is greatly mechanized, making it more accurate, faster, and easier. No wonder, because we live in the age of digital technologies, which are penetrating all areas of life and production. But what can be said reliably is that companies who have entrusted outsourcing in this matter, most often remain satisfied and benefit from their decision.

The benefits that businesses get from outsourcing:

  1. They spend a lot less time. Payroll calculation, as mentioned above, is a very time-consuming and labor-intensive process. It involves many small operations that require extreme focus, as well as a lot of paperwork, compiling reports, and filling out documents. Often employees spend a lot of time on these operations, which they could have spent on strategically important tasks.
  2. They save money. Outsourcing is one of the key tools for achieving financial efficiency for any organization. The biggest money saver, of course, is the lack of penalties for errors in salary calculation and payroll. Collaborating with outsourcing companies helps to minimize the risk of these penalties. Moreover, optimizing the process of calculating the employees' salaries saves a lot of money.
  3. They improve the quality of service. Absolutely all employees of any company want wages to be accrued quickly, correctly, and without delays. The streamlined process of salary calculation becomes easier, clearer, and faster. Employees' confidence in their bosses increases, and their attitude becomes better. After all, most people work for a salary, so the right calculation is crucial to them.
  4. They minimize the risk of error. Payroll calculation and payment is a very tedious and monotonous process. During such monotonous tasks, anyone loses focus, and in almost 90% of the cases, they make a mistake. To avoid such mistakes the process should be optimized.
  5. They increase the integration of salary data. First, it’s worth noting that with outsourcing, the accuracy, as well as correctness of payroll are increased. This applies to both the number of wages itself and deductions to pension and insurance funds. In addition, it becomes possible to collect large amounts of payroll data. The latter can be very useful for the company.
  6. They get to work with experienced specialists. Although most operations today are done by machines, and almost all processes are very mechanized and optimized, the human factor has not gone. Working with a qualified person is very pleasant and productive. When you outsource, there’s a high chance that you’ll start working with a competent specialist who will give you invaluable assistance in your work. He/she will be able to tell you how to deal with certain issues and advise you on the nuances of legislation and legal documents. Cooperation with an experienced professional will help the company to reach a new level of work.
  7. They ensure the security of settlements. This is a distinctive feature of a qualified specialist. Such professionals can always guarantee the safety of data, so it is safe to cooperate.

Choosing a supplier

Outsourcing is a profitable and correct decision with a competent specialist. When choosing a company to cooperate with, first of all, you should pay attention to its competencies, work experience, work schemes, and security provisions.
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Our advantages

Ranking of companies by HR records management in Russia 2021
top
25
Ranking of companies by payroll in Russia 2021
top
30
Ranking of outsourcing service providers in Russia 2021
top
50
Ranking of the largest consulting companies in Russia 2021
top
150

Rankings

Ranking of companies by HR records management in Russia 2021
Ranking of companies by payroll in Russia 2021
Top-30
Ranking of outsourcing service providers in Russia 2021
Top-50
Ranking of the largest consulting companies in Russia 2021
Top-150
*According to
Top-25

Our team

  • Tatiana Shkarupeta
    CEO, founder
  • Elena Smirnova
    CEO Deputy
  • Zhanna Shushmanova
    Head of HR-administration services division
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    Head of Corporate Legal Services
  • Marina Milenkova
    Chief accountant-expert
  • Anna Volkova
    Chief accountant-expert
  • Elena Isaeva
    Head of payroll division
  • Olga Zalkina
    Chief Payroll Accountant-expert
  • Irina Bogreeva
    Chief Payroll Accountant-expert
  • Elena Merts
    Chief payrol accountant-expert
  • Elena Pavlova
    Senior Accountant-expert
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