Outsourcing Payroll Services
Our outsourced payroll services are designed to optimize your payroll operations for enhanced efficiency and effectiveness, saving your business both time and financial resources. Benefit from high-quality, comprehensive back-office support that provides more accurate, timely, and customized reporting and processing of your payroll functions.
- Payroll processing
- Employee records
- Direct deposit administration
- 401(k) processing and administration
- Tip reporting
- Workers’ compensation
- Leaves of absence
- Benefits administration
- Loss prevention
Outsourced Payroll Processing
- Full-service payroll provider
- Paychecks will be printed and sent directly to client
- Payroll taxes filed and paid to the state and federal agencies
- Quarterly payroll tax returns completed (940/941/EDD returns)
- Year-end processing of W-2 and 1095-C forms
Benefit Administration
- ACA compliance
- 401K administration
Employee Records
- Paperless employee records storage
- All employee payroll records are kept in HRIS payroll software
- Employee self-service for payroll records
- Employee electronic delivery option for pay records
Workers' Comp Claim Administration
- Administer workers’ compensation claims
- Handle workers’ compensation renewal process upon your request to ensure the best plans and rates are obtained
What Are the Benefits of Outsourced Payroll Functions?
Outsourcing payroll functions allows businesses to focus on their core competencies with benefits that contribute to operational efficiency, regulatory compliance, and overall success. Companies can leverage standardized processes and expert guidance to help reduce errors, prevent fraud, and develop a consistent, satisfactory employee experience.
Employee Benefits and Salary Packages
Efficiently manage employee packages to attract and retain top talent, stay competitive, and enhance employee satisfaction.
Accurate Reporting
Ensure precise and transparent reporting of payroll expenses, benefits, and deductions to minimize errors and ensure compliance.
Operational Efficiency
Outsourced payroll services streamline processes, standardize workflows, and reduce operational redundancies.
Fraud Prevention
Robust security measures and regular audits safeguard against fraudulent activities to mitigate risk and protect a business’s finances.
Compliance
Our expert team helps ensure compliance with various legal, regulatory, tax, and wage laws and requirements to avoid penalties and other risks.
Integrated Approach
We seamlessly partner with key departments, including human resources, to ensure a comprehensive approach to workforce management. From onboarding to benefits, our services help streamline communication, employee data, and collaboration. This alignment ensures efficiency and accuracy across the organization.
When Should You Outsource Payroll?
There are several reasons you may consider outsourcing payroll functions, such as:
- You want to focus on your core functions but have limited resources
- You’re growing and need help managing expansion efforts
- You have complex payroll requirements
- You want to be more efficient and accurate while reducing your risks
What to Consider When Outsourcing Payroll
There are several factors to consider when outsourcing payroll, such as:
- The provider’s expertise, reputation, and industry specialties
- Which comprehensive services and client support are provided, and how they align with your business goals and needs
- Technology, compatibility with existing systems, and security measures that safeguard data and finances
- Cost transparency
What Are the Risks of Outsourcing Payroll?
Learn how we address common concerns of outsourcing payroll functions.
Data Security
Protecting sensitive information and safeguarding against privacy breaches are paramount. A reputable provider can help enhance your security protocols, stay compliant, and reduce risks to sensitive employee data.
Compliance Risks
Providers must stay updated on evolving regulatory requirements and laws. With our expertise and dedicated teams, we stay updated on all changes to help you reduce the risk of penalties or legal issues.
Loss of Visibility
A reputable provider should provide custom solutions and maintain transparent communication over critical processes, giving you more peace of mind to focus on your core functions, with the added benefit of expert guidance and support.
Is Outsourcing Payroll Cost-Effective?
There are several reasons why outsourcing payroll is cost-effective for your business.
Operational Efficiencies
Automating tasks, minimizing errors, and streamlining processes can lead to significant cost savings over time and enhanced operational efficiency.
Bolstering Data Security
A reputable provider helps you mitigate security and legal risks associated with sensitive employee and financial records, ultimately protecting your bottom line.
Strategic Decision-Making
Valuable insights and analytics help businesses identify gaps, seize growth opportunities, or maximize profitability, enabling informed, strategic decision-making.
How Much Does Outsourcing Payroll Cost?
The cost of outsourced payroll functions can vary depending on a business’s needs and requirements and the additional outsourced services it secures.
While costs may vary, there is significant value in the potential cost savings over the long term, the comprehensive support provided, and mitigating potential risks. Contact us to learn more.
Contact us to help you with your Accounting, HR Payroll and Business Consulting needs today.
