Small and Medium Enterprises (SMEs) are always in a challenging state where they have to focus all their energies on generating revenues and looking for new avenues for profit making. But in a real scenario, they have to devote their precious time to other non-core activities including payroll management which is also important for the business operation.   Payroll Service Providers   Thinking ahead of the time it is important to understand the long-term benefits of Payroll Outsourcing for SMEs. Let us dive into the top reasons why Payroll outsourcing is really a boon for small and medium enterprises.

Efficient and Timely Disposal of Payroll Services

Accuracy and timely delivery of Payroll services in a small enterprise is a challenging task and is also a complicated process which needs a lot of efforts and expertise. An organization is expected to adhere to a number of norms and laws regarding payroll system in the company. In order to ensure the timely and accurate disposal of payroll services, it is important to outsource payroll to another cost-effective and best payroll outsourcing companies and follow all governmental rules and regulations regarding this.

Time Conservation

Managing the Payroll of employees is a time-consuming process. Keeping the track of new hires, deductions and benefits, paid time offs and other payroll issues are some time-consuming tasks which are hard to handle in less time frame. Outsourcing the payroll management process can help SME owners and individuals to concentrate on the core objectives of the company. Giving more time on strategic tasks can influence the company’s productivity and therefore more growth and income!

Access to Domain Experts with Advanced Technology in payroll and Accounting process

It is a common issue with the Small and medium enterprises that they are not completely aware of the latest payroll software being used in the industry and other tools for handling the task in an efficient and fast way. By outsourcing payroll, you as an SME owner can get rid of this problematic situation where payroll outsourcing company will take care of all the burdens. These companies always use the latest software for payroll processing and tax computation.

Cost Saving and Financial Risk Prevention

This is one of the biggest advantages of payroll outsourcing. If the payroll management is inaccurate and tax filing errors are there, it can result in tax penalties. SMEs generally do not have much experience in handling these issues on their own and payroll outsourcing can save you from these hassles. Also, the third party payroll management services guarantee tax benefits and they can also be held responsible if they file payments late. There are numerous risks involved in managing payrolls and a big cost has to be incurred by the organization if things go wrong. That is why a special expert team is needed which can be provided by an outsourcing company for payroll. The payroll companies are experts and work harder all the year for payroll management and thus reduce the risk of any errors made in your payroll management process.

Conclusion

Thus involving a third party payroll management can be a real game changer for your small business. Always make sure that you involve a payroll management company which is trustworthy as well as a well-experienced one. The best payroll outsourcing companies are excellent in taking the hassle out of payroll and payments from your business so that SMEs can focus on the success of their businesses.

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CA. Vipul Gandhi

Associate Director

Khandhar Mehta & Shah - Chartered Accountants

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on time! We

Parameshwer Matla

Human Resources

Columbus India

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on The most valuable service that we get from you is "peace of mind." I know that once I submit our payroll information, everything will happen on time, payroll, pay slips, statutory reports, full and final settlement, returns and I know that we are and will be always in compliance with statutory laws regarding payroll.

Ramakrishna Dabbara

Sr. Manager – Finance

Sumtotal Systems

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Abhijeet Shete

SENIOR MANAGER- HUMAN RESOURCE

Altra Industrial Motion India

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Sukesh Baban Dhage

Manager Accounts

Hi Tech BioSciences India Private Limited

On behalf of Hitech Bio Sciences India Pvt. Ltd., Hi Tech Bio Laboratories, Hi Tech Analytical Works & Hi Tech Biosynth Pvt. Ltd., we appreciate your dedication to provide Payroll services to our companies from the approximately last 4 years. We acknowledge the fact that due to COVID-19, situation has become really tough across the globe. We all are forced to stay at our homes and take extra care of ourselves along with family members. It is a privilege to acknowledge you and your consultancy’s efforts and recognize the valuable service that you have provided to us. 

It is always gratifying to work with such great people with extraordinary abilities to provide good and quality service. The kind of response from your side get is fabulous and most memorable with professional culture. Specifically we would like to mention that, your approach towards the client is fantastic, for e.g. response to email is very prompt, continuous touch with client, on time response to queries or questioners’, on time and accurate report sharing. Flexibility to client requirement, Client / customer centric approach etc. Timely payment of salary gives a lot of confidence to all employees and it is due to our partners like Paysquare that Hi tech has never defaulted on its commitment of timely payment of salaries.

Ratnakar Dhakad

Senior Operation Manager

Tecknack Technologies Private Limited

We are very impressed with Paysquare team due to their ability to process payroll very efficiently. We found the implementation team very knowledgeable, supportive and very systematic.

Paysquare is a very matured payroll processing solution and they have well paid down processes to manage first time as well as every month's processing.

Monica Shah

HR Business Partner India

Victaulic Piping Products India Private Limited

Honestly , It has been an amazing experience working with Payroll team as on date . Deepika and Uma has been a strong support to us. They have always been very helpful and co-operative. I congratulate them to run payroll with zero error every month. And I expect the same level of support in future. I am happy to be associated with Payroll team.

Seagate India

Manager

I have been a client of Paysquare for 7 years and their services are fantastic. Migration from the old consultant to Paysquare was seamless. Soon after the migration, Paysquare team was up the learning curve. They never missed the deadlines provided by us. The team is always reachable, and they keep us informed about changes in taxes or government policies which impact payroll. I have complete confidence and trust in their payroll solutions, and we will always recommend them. Any company looking to ease their payroll burden with friendly service and a flexible, secure system should partner with Paysquare.