Outsourcing Payroll

Instead of hiring a dozen employees, small businesses are hiring a few workers and outsourcing the rest of the functions of the company. Services like payroll are being outsourced to professional service companies that can perform the same functions as a payroll clerk. There are some surprising advantages to using the services of a payroll company versus hiring a single employee to handle the task. http://money.cnn.com/2013/06/12/smallbusiness/hire/

Saves Time and Money

There are times in many small businesses where it makes more sense to outsource a task than have to do it yourself. When it comes to payroll, the work could end up taking hours and hours of the owner's time. If they give it to an employee, that employee will be taken away

This might not leave time for other duties like serving customers. Outsourcing payroll will save many hours per week. Employees turn in their time sheets to the owner and the owner sends it to the payroll company.

Along with time saved, money can be saved too. When you take the task of payroll from the business owner, he or she has time to focus on money making opportunities. Taking the task from an employee frees them up to focus on other tasks too. It's cheaper to hire a company to perform payroll than have one employee dedicated to it each week.

Increased Business Security

While you might have the best employees in the world, there's always a risk of embezzlement or tampering when the business owner doesn't do the books. Giving an employee access to the bank accounts plus the software involved with bookkeeping and payroll can create a situation the owner might regret.

The software won't have the security that your payroll service does. They understand the need for securing your data, so they'll have the latest technology to keep your information safe. They'll store it on multiple servers and have secure protection in place, so that your information can't be hacked by exterior forces.

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