How does outsourcing payroll work?

It is a very simple process. You just need to sign up with us for a free trial or contact us directly. We will then ask you to provide us with the information for your payroll online. That’s all you need to do. Payslips and reports are sent to your online secure system.

Should I outsource my payroll?

Yes, you definitely should. Business consultants have made it clear that outsourcing some of the non-core functions to professionals can be good for your business. It helps you save time and money, get expertise, ensure compliance with government regulations and make payroll processing safe and secure. Most importantly, you employ your resources on your central functions which allow you to generate more income as well as saving costs.

How much does it cost to outsource payroll?

With 1 employee in your company, dhPayroll is less than £15 per month. We work on a sliding scale so that you only pay for the work we do, and that helps you keep your costs to a minimum. Costs can be as little at £3 per payslip for larger companies with 50 or more employees. We can further reduce by tailoring costs if your payroll is weekly or you have more than 100 employees, so please contact us in any case for further information on the costs. We would be pleased to discuss your requirements and provide you with a quote.

Is outsourcing payroll cost-effective?

Yes, payroll outsourcing is a very cost-effective solution for your business. Think of all the time and money that is spent in calculating payroll in each period, printing, signing and distributing payslips and making payments, software maintenance, keeping up with changes in tax rates and other training issues, recruiting and training payroll staff, along with premises and other IT costs associated with internal payroll staff. Outsourcing is definitely going to cost you less.

When should you outsource payroll?

You should outsource your payroll when you feel that the cost of getting it done in-house is more than outsourcing it to professionals, but also you would like the added benefits of security and simple effective software and secure online access to payslips and P60s for your team. It is best to focus on the core functions of your organisation because that is what drives your business and makes your company successful.

How A Payroll Outsourcing Service Can Help Your Business To Flourish

In simple words, ‘payroll’ is defined by the process of making payments to the employees of a company. However employers will confirm that payroll can be one of the topmost expenses each month.

The monthly payroll process involves collecting data about every employee, knowing their working hours, their tax deductions, their monthly salaries, their benefits and so on. Hence, the process of payroll is a very time-consuming & complicated procedure, and errors may lead to significant consequences.

So, how can you make the payroll process error-free and simple? Well, that’s where payroll outsourcing services come in and make their mark. Therefore, in this comprehensive guide, we’ll be discussing the various ways how a payroll outsourcing service can assist your business to flourish.

Various Ways How A Payroll Outsourcing Service Can Enhance Your Business Operations

Helping In Time Management
Keeping the payroll process management internally can prove to be very complex for any company. This is because the process needs a robust human resource management system so that it can smoothly function. The payroll providers also need to keep themselves updated with the latest government rules & regulations.
With the help of a payroll outsourcing service, the entire burden of the payroll process is lifted off the employer and then handed over to the efficient & trusted third-party service provider. Such payroll services in Richmond have a team of experts who are specialised in properly managing payroll, with the help of the latest technologies & software.

Since the payroll outsourcing service provider’s core responsibility is to manage payroll, there will be no room for errors. The process will be carried out meticulously thereby providing your company with a competitive edge. And since payroll is executed every month – meaning time is an important factor – payroll outsourcing service providers will complete the process within the stipulated period.

Helping In Tax Compliance
For a business or company to function smoothly, tax compliance is necessary. Every year, hundreds & thousands of companies end up paying penalties for non-tax compliances. This is because government laws, rules & regulations change all the time and some businesses struggle to keep track of the changes. As a result, companies end up paying penalties which can be an additional unexpected liability for the company.

With the assistance of payroll outsourcing companies in the UK, you can expect your business to be in perfect compliance with the current government rules & regulations, leading to no fines or penalties.

Helping In Offering Expertisation
Most companies out there don’t have the time or the resources to study & research all regulatory updates. However, with payroll outsourcing services, your company or business will get access to consult with a team of experts, thereby helping your business to stay compliant with the various government rules & regulations.
As a result, your company will get access to the best possible talent pool required to run the payroll process in your business, ultimately streamlining the overall business structure and helping your business to flourish.

Helping In Providing Access To The Latest Technologies
Generally, small and medium-sized businesses utilize a manual payroll system. However, manual payroll systems are prone to errors, highly time-consuming and are less secure. That’s why payroll outsourcing services have opted for payroll automation systems because automation is the future. With the help of automation, there will be less room for errors and employee paychecks will be produced seamlessly.
Furthermore, automation helps in reducing the overall cost of the payroll process, and reduces the time required to process your payroll.

Helping In Bolstering Security Measures
There’s no denying that the payroll processing system involves a lot of monitoring since financial risks are involved for the company/business. With the help of payroll records, one can get access to the personal & confidential information of every employee working in a company. Hence, any theft of such sensitive personal information can lead to significant legal consequences for the company/business.
Thus, a high-level of monitoring & security is always demanded for the payroll system and such level of competency can only be provided by a trusted payroll outsourcing service provider. This is because payroll outsourcing firms utilise the latest technologies which helps in alerting the security & monitoring system in case of any payroll thefts or frauds. Such automation will inherently decrease the requirement for manual intervention.
Additionally payroll outsourcing service providers use multiple server locations for storing & backing-up personal & confidential information of a company’s employees. Hence, in case any of the storage servers fail, they’ll have the alternative servers to piggyback & secure the data.
Thus, if you want your company or business to be highly efficient in managing the payroll process, then obtaining the services of a payroll outsourcing service provider should be your utmost priority.