10 points to consider when looking to outsource your payroll

Paul Hollinshead, Partner at Mark J Rees LLP looks at key factors when choosing to outsource your business' payroll.

The time you have available to spend working on your business is such a precious commodity that you may well have come to the conclusion that outsourcing the payroll function is likely to be an efficient use of your resources. In doing so you will be engaging professionals who are up to date with the latest legislation and can provide you with a service tailored to your needs.

Understandably, payroll is a sensitive topic involving highly confidential information so it is essential that you do your homework to find a suitable outsourcing partner.

It isn't wise to chose the cheapest so here are some questions to consider:

  1. Is the service provider a one-man band and if so are back up resources in place?
  2. Is the service provider a recognised payroll provider and do they belong to a professional body?
  3. Does the service provider undertake professional training?
  4. How does the service provider keep up to date with legislation and do they regularly update their software to reflect this?
  5. Is the payroll data secure and can the provider accommodate historic data?
  6. Is there a data backup recovery plan in place in the event of a disaster?
  7. Can the provider process the payroll hourly, weekly, fortnightly or monthly?
  8. Does the provider have the capability to accommodate your needs as your business grows?
  9. Are there processes in place to ensure that your payroll will be processed on time?
  10. Does the service provider offer any added value services?

If you are reviewing your situation and need any other compelling reasons to consider going down the outsource route you might also consider some additional benefits such as:

  • Reducing your operating costs
  • Increased flexibility and responsiveness
  • Access to the latest technology and dedicated payroll resources
  • A confidential payroll environment
  • Consistent delivery service.

For more information about how your business could benefit from outsourcing payroll please email Paul at pgh@markjrees.co.uk

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