After working with companies and business owners for years as they implement offshoring their payroll duties into their business model, we have compiled this list of key benefits afforded through the offshoring process.
Increased Productivity and Reduced Costs
Payroll processing is a time-consuming process. Keeping track of salaries, deductions, new hires and terminations, PTOs, federal & state regulation changes, and much more requires a considerable amount of time, energy and therefore costs. Offshoring these duties saves time and staff commitments, increasing the level of productivity your company is capable of while reducing the associated costs. Our research shows that a small to medium-sized business with 10+ employees typically spends $2,500 per year on payroll associated duties. With offshoring, these costs can be reduced by 30%.
Payroll processing is a complex process which involves a lot of potential risks. Even with an experienced employee, there is always the risk of miscalculations or tampering with company’s confidential files for personal gain. How can you tell if your data is safe and secure over your server or network? Do you have the time to closely monitor and supervise your payroll activities for manipulations or genuine mistakes? Reliable offshoring providers ensure your business not only has an experienced, reliable offshore payroll team, but one with state of the art technologies and security systems to detect and alert any payroll abnormalities. Your data is stored, backed-up and protected so you never need to worry.
Offshoring your payroll duties with a reputable offshoring provider ensures your company’s payroll is being handled by an experienced, dedicated payroll team using only the latest software. You and your local team can focus on running the other sides of your business while resting assured that your payroll is functioning smoothly and effectively. This offshoring model increases the level of efficiency with which your business operates by freeing up staff and resources without sacrificing quality of work.