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Why It Pays to Hire a Payroll Service Provider

“If you have one employee, get a payroll service.” That’s the advice of Rhonda Abrams, author and one of the nation’s leading experts on entrepreneurship, small business, and business planning, to business owners.

It’s a smart advice. If you run a small business, for example, it wouldn’t be fiscally wise to spend a considerable bulk of your budget on a fully staffed in-house HR or finance department. This means you work with a lean team, most likely just one or two people multitasking—a situation that’s ripe for oversight as well as errors induced by time constraints (e.g., missed payroll tax deadlines and delayed payroll runs).

Outsourcing to a payroll service provider offers the following benefits:

  • You avoid bookkeeping errors.
    Because payroll service providers invest in the best technology to attract and retain clients, you can be assured of accurate and timely automated payroll processing. Your payroll service provider’s expertise on tax codes and payroll regulations steers you clear of any mistakes and inaccurate reporting.
  • You avoid the steep cost of penalties.
    Payroll processing delays can be costly, but by engaging a payroll service, you have payroll specialists who make sure both the IRS and your employees get what’s due to them, on time.
  • You save on hiring costs.
    Payroll software systems will cost you significantly less than hiring a full-time bookkeeper, which can mean savings that can go toward building your brand or hiring someone who is far more needed elsewhere in your business.
  • You save time.
    Automation takes a significant amount of workload off your and your HR/finance team’s shoulders. The integrated features of automated services take over tasks that you and your payroll manager would otherwise have to do. Among these features are the employee self-service, which lets employees get involved in most of the onboarding and upkeep, freeing you up to focus on growing your business.
  • Your payroll process is made easier by accurate recordkeeping and data entry.
    A payroll software offers additional time-saving benefits in the form of precise recordkeeping and data entry that eliminates the need for corrections and the threat of government penalties.
  • You are spared the hassle of accessibility issues.
    A cloud-based payroll system offers you and your employees unprecedented convenience and flexibility in getting any payroll information you need.

Handing your payroll tasks over to a team who specialize in payroll and HR management takes a load off your team while allowing you to save on the cost of hiring additional personnel should the workload prove unmanageable, or, heaven forbid, in the wake of costly errors. So, find a great payroll service provider who can work seamlessly with you.

Payroll Systems offers a payroll service that guarantees automation and accuracy backed by a dedicated specialist who is available should you need additional support. Learn more about how we can help make your business thrive.

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This article provides general information and shouldn’t be construed as legal or HR advice. Since employment laws may change over time and can vary by location and industry, please consult a lawyer or HR expert for advice specific to your business. You can also contact Payroll Systems to inquire about our HR support services.