Similar to Sales, Customer support, marketing and other crucial parts of your business, Payroll management is also an essential part of your business. Good Payroll management helps in rewarding and retaining your employees with correct compensation for the work they have done. If there are errors due to miscalculation and inexperience in Payroll management, it can lead to dissatisfied and under-motivated employees.           Payroll Company                                                

What is Payroll Outsourcing?

Businesses, whether small, medium or big can hire external firms to handle all the payroll functions without the need for any internal trained staff to do that. Outsourcing Payroll services to a knowledgeable and reputed payroll vendor can bring great results to your company by making employees more motivated and avoiding payroll process errors and penalties. Here are the 5 main benefits of payroll outsourcing which may change your perspective.

1. You can really Save a lot of Time

Handling payroll tasks internally requires a lot of working time and attention to many details. As your staff and responsibility grow, the time required in management grows. Pay period and deadlines become a series of checks and balances for ensuring no errors. When you outsource your payroll, the time taken away from handling payroll tasks can help you to manage and grow your business. You can improve sales, make better marketing strategies and improve workflow efficiencies.

2. Data Security is Improved

In-house payroll management may lead to data security risks and there is a lot of room for identity theft. Those who handle payroll in your company can tamper with records for personal gain if they are dishonest. With payroll outsourcing, you can house your data in a highly secure server of outsourced payroll software. They also allow redundant data backups and use cutting-edge encryption technology.

3. Meeting Government Compliance

Mistakes in payroll processing can lead you open to costly penalties and also audits. Government regulations change constantly and can be frequent in a financial year. If you are not aware of these changes, it can lead to payroll and tax calculation errors. Outsourcing to professional payroll firms will guarantee accuracy and compliance. Payroll accounting firms properly understand the law and are updated all the time. They handle all the liability of handling payroll without any errors.

4. For International Organizations, Outsourcing Payroll is a Plus Point

For the companies who have staff overseas, it is a real need to outsource payroll processes to a professional company. This is due to the fact that there are a lot of challenges brought by local government regulations, tax regimes and local currencies. There are a host of things an international organization needs to be aware of when managing payroll operations in different countries. An outsourced payroll company can take care of all these and manage payroll management well without any errors due to good expertise in payroll outsourcing business.

5. Professional Assistance with Payroll Processing Software

Payroll management companies have the most updated tools to handle the payroll and tax services which may not be available in your organization internally. By outsourcing payroll processes to other organizations, you can get access to the payroll processing software which can handle all your payroll and tax calculation services efficiently and on time.

Conclusion

Payroll management internally is a cumbersome task for your organization. A professional payroll management company has people who know payroll processing professionally and specialize in government regulations, taxes and human resources. They are trained to handle all these responsibilities and good service is guaranteed. By payroll outsourcing, to these professional companies, you can receive a number of payroll outsourcing benefits as explained above. You can save a lot of time, money and headaches and go back to manage the core functions of your business well.

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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.