There’s no denying the importance of professional payroll software when it comes to managing your company’s payroll. The benefits involve an immense saving in effort while providing you with a great deal of transparency across the whole payroll workflow. It’s all perfectly logical and simple, so far. But what about the reality of selecting the right solution for your company? That’s where it gets a lot less simple.
Because there’s no shortage of options to pick from. There is a glut of competing solutions on the market, all claiming to offer you the best return on investment ROI. You can pick up a solution from one of the top 5 service software providers on the logic that you are paying a premium that will justify itself amply. Or you can shop around for a boutique offering that offers greater customisability. The options can seem endless, and in the case of a small or medium enterprise (SME), you simply may not have a skilled resource in-house who can wade through the veritable flood of offerings to find the holy grail of a solution that is the perfect fit for your business.
Even if you find a great solution, there’s the functional aftermath to consider. You need someone who is skilled enough to extract the optimal utility from the software. This means hiring a full-time, highly-skilled resource for a very specialised job. You also need to ensure that you are installing all the updates and patches you need. If something goes wrong, you have to interface with the software provider for servicing, supposing there is an after-sale support option at all.
That’s a lot of time, effort and money to tie up in one process, however vital. And in an SME environment the accent is on smart, agile solutions. Solutions like outsourcing your payroll process to a skilled partner. This immediately takes the burden of finding, operating and maintaining the right solution off you, saving on time and effort. You also save on costs because a specialised partner has already invested in the requisite infrastructure and resources and does not need to charge you the entire cost of their operations. All compelling reasons why you should seriously add a process outsourcing partner like Alp Consulting to the head of your consideration set!
The small and medium enterprise (SME) space is highly competitive, so every rupee and every man-hour spent is crucial. Focusing on core competencies is vital in running a lean, effective organization and it makes sound business sense for an SME to outsource a process like outsourcing. Let’s look at a few of the major reasons SMEs are choosing to turn to payroll services:
- Focus on building your business: Payroll management is a complex and time-consuming affair. You want your staff to focus on activities that generate value and drive profitability; outsourcing the process frees them to do this.
- Save money: A payroll service provider with a well-established business can afford to charge you a rate that works out to less than it would cost to hire skilled personnel in-house or part-time to do the same work.
- Avoid penalties: There are many legal requirements and nuances pertaining to payrolls; an outsourced payroll service takes on the burden of ensuring that you comply with all these requirements, potentially saving you a lot of time and worry.
- Reduce stress: Manually managing your own payroll may work with a workforce of less than 5 people, but for any organization larger than that, all the details involved in maintaining a payroll, making payments, filing returns and so on month after month can add up to a hefty serving of stress. Stress that a payroll service can take off your plate.
- Simplify your IT infrastructure: If you’re handling your payroll in-house, you face the recurring question of whether you have the latest payroll software and tax sheets installed. Outsourcing to a dedicated payroll partner ensures that these technical issues are addressed automatically without your direct involvement.
- Rely on the experts: A company that offers payroll services brings to the table a great deal of experience and knowledge in this domain. Previously, only large enterprises could afford to hire personnel with this kind of expertise; an outsourced partner gives you access to this level of expertise without the expense of hiring a highly skilled resource.
- Expertise you can depend on: Even if you do hire a skilled bookkeeper, the chances are that he or she will move on at some point, taking all that skill, knowledge and experience. Outsourcing eliminates your dependence on individual skills and knowledge.
Alp Consulting enables SMEs to focus on their own business, secure in the knowledge that their payroll process is in the hand of a skilled, dependable partner. To find out how we can power your business with our services just drop us a line!