Doing payroll in-house is a headache most businesses don’t need or want. And it opens companies up to unnecessary risks as well.
That’s why a lot of companies choose to outsource their payroll. And getting payroll done on time, and done right, are not the only advantages.
When you realize all of the benefits an expert payroll provider brings to your business, the more sense it makes to outsource as soon as possible. This article examines the top 7 advantages of outsourcing payroll and how these advantages can impact your business.
7 Advantages of Outsourcing Payroll Services
If you’re a small business looking to outsource your payroll, you’re in the right place. We’re a payroll service provider that specializes in helping small businesses in particular. We know the hurdles and difficulties small businesses face with payroll, and we have the experience and expertise to take most of them away. If you want to talk to a small business payroll expert about your payroll needs, schedule a chat with us here.
Advantage #1: Get Time Back
You may think that time is something money can’t buy, but that’s not always the case. In fact, you can buy more time by letting someone else manage your payroll.
There has never been a business owner that opened a new business because they were passionate about payroll and taxes - except for maybe payroll service owners. Handing over payroll duties allows you and your employees to focus on what you love to do and the essential aspects of running a business.
Advantage #2: Stay Compliant
State and Federal employment and tax laws are always changing, often dramatically and quickly. Staying up to date with all the details to maintain payroll compliance is more than a full-time job.
Outsourcing to a payroll service ensures your payroll will be managed and processed according to the latest regulatory requirements.
Advantage #3: Expertise and Experience
Payroll seems easy until an issue or problem arises. Then, people are always surprised at how complex and confusing it can be.
For example, managing and applying for PPP loan forgiveness requires a great deal of knowledge and information. Many businesses found themselves entirely unprepared for the requirements of qualifying for loan forgiveness through this program. And, it’s changed quite a bit from the first round of loans until now.
Outsourcing payroll, at least with ConnectPay, means you have an expert you can reach out to any time things get confusing or complicated.
Advantage #4: Maximize Business Efficiency
Companies that try to manage payroll themselves can easily waste a lot of energy getting paperwork completed accurately and on-time. Companies come to us often, feeling like they have to ‘reinvent the wheel’ every time they face a payroll issue.
We solve that problem.
A payroll expert can help tighten your payroll processes and systematize everything so that you maximize your business efficiency. This is a huge benefit that can save time and a lot of unnecessary expenses.
Advantage #5: Simplified Tax Reporting & Peace of Mind
Payroll services like ConnectPay provide a close-knit relationship between your business and a payroll expert. They will help manage your payroll taxes and provide you with simplified, easy-to-understand reporting. This brings peace of mind, knowing you don’t have to fear consequences with the IRS.
Advantage #6: Modernized Payroll
Our clients get the advantage of digital pay stubs, which help the environment by replacing wasteful paper statements. It also removes the pain of lost pay stubs, thanks to secure online pay stubs your employees can access at any time.
Advantage #7: Connections to Industry Experts
One of the things we do for our clients is to connect them to trustworthy industry experts that are knowledgeable in all areas, such as workers’ compensation, employee benefits, human resources, accountants, bookkeepers, and more.
When hurdles outside of traditional payroll arise, our clients enjoy our industry connections that help solve all the complex problems of being a first-class employer.
Ready to Get Started?
Every company is different, each possessing a wide array of concerns, fears, and needs. Before outsourcing to a payroll service, it’s important to get a feel for them, to know that they are knowledgeable, reliable, and reachable.
We would love to talk to you about your company and your payroll needs. And we stand ready to answer any questions you may have. Schedule a consultation with us here, and we look forward to talking with you.