Business consultants have long advocated outsourcing non-core functions.
In most businesses, administrative and back-office activities such as payroll are non-core functions. As such, they are potential candidates for outsourcing.
But the question business owners and managers want answered is: what do you actually gain from outsourcing payroll? Is it worth all the time and effort just to investigate and identify appropriate outsourced service providers? Then there’s the work involved to transition the function outside to the third party service. Do the benefits of outsourcing outweigh that effort?
Ideally, outsourcing achieves three main goals:
· It frees up time and resources to focus more on your core business.
· It gives you access to more technology and expertise to perform payroll well.
· It reduces costs and risks.
Not all business will gain value from outsourcing payroll. To check if your business might qualify as a potential candidate for payroll outsourcing, Contact Us and our consultants will be happy to guide you through it.