July 27, 2023

HR BPO & Payroll Outsourcing Solutions

Through Deel, you can unify contractor payments, employer of record (EOR) services, and payroll management in one platform. Outsourcing payroll can help businesses scale their payroll operations up or down without having to hire or layoff employees who handle payroll. These days, just about any service of this level of importance comes with some kind of software platform.

Compliance across borders

If you can’t legally pay your crew, it’s not a solution — it’s a financial timebomb. Find out, in detail, what kinds of security measures they have in place, including official security certifications and protocols. If possible, consult with your own in-house security experts (or, if you’re unsure, ask an independent security expert). If your potential payroll provider is unwilling or unable to give you this information, it may be cause for concern.

In the early days of strategic outsourcing, companies were most comfortable hiring away low-skill tasks distant from sensitive business areas. Nowadays, many companies do the opposite and outsource critical functions such as customer service and money-management tasks. This has grown to include many activities normally performed by administrators or human resources departments—including payroll duties. Below are some common advantages of outsourcing payroll services, areas of your business where a provider may be able to help, and how this approach could make sense for your business.

Will the service pay state and federal taxes or simply provide you with the information you need to do your own tax filing? Don’t forget to ask about the costs for additional services such as human resources support, multiple state filings, or global payroll options, if you need them. Another benefit to outsourcing is that payroll functions can be assumed by providers specializing in effective payroll management. For most companies, performing payroll functions in-house amounts to nothing more than an important housekeeping duty; the company itself is expert in something entirely different. A payroll outsourcing provider or “payroll service bureau,” cash short and over definition and meaning on the other hand, may perform payroll functions and nothing else. If it does offer other services as well, these are likely to be in similar areas.

Reduce costs

Turning “all things payroll” over to a third-party provider may not be the most cost-effective solution. Some businesses choose to co-source payroll, keeping some of the payroll tasks in-house. That gives the business control over the process without taking on a heavy workload.

Take Your Time

1. It allows a third-party payroll services provider to handle the administrative aspects of payroll so you can focus on running and growing your business.
2. Some of these fees depend on how many people are employed by the business and the frequency of payroll periods.
3. HR teams with companies doing in-house payroll will be responsible for checking health insurance requirements and maximum retirement contribution rules in the countries where you have employees.
4. All the benefits of outsourcing payroll are also reasons to outsource payroll.
5. Set up a timeline, figure out who’s responsible for what, and highlight the key milestones in the process.

The complexities of payroll processing may require a considerable time commitment on a daily and weekly basis — time you can’t make up elsewhere. The growth in payroll outsourcing solutions and improvements in technology mean that business owners should be able to find a payroll service provider that works for their business needs. Many small businesses can benefit from outsourcing payroll, by using payroll software services or other solutions. This can help the business save both time and money as well as stay in compliance.

And with a single, straightforward pricing structure, you’ll always know how much you’ll be paying. So for businesses that just need a digital tool for their payroll, especially one with easy-to-anticipate costs, OnPay is a solid choice. TriNet leans hard on its talent acquisition solutions as a differentiating factor. It boasts many of the same offerings as the previous list entries (self-service software, outsourced HR solutions, etc.). And the brand brings significant value to the table in the form of risk mitigation and contractor management. Gain time, money, peace of mind, and expertise across HR, payroll, workplace safety, compliance, and benefits with ADP.

Helpful, reliable customer support can make all the difference when you’re dealing with payroll, especially when time is of the essence. One of the biggest issues for payroll clients is hidden fees and “sneaky” costs. As well as being dishonest, these costs can wreak havoc with your hiring budget.

That’s why the first thing you should consider when hiring a payroll outsourcing provider is establishing trust. Payroll providers can also handle payroll taxes and ensure you comply with local tax regulations, regardless of where employees are from. You may need to supply specific tax forms and other necessary information about workers, like their Social Security numbers or Tax Identification Numbers (TIN). All the benefits of outsourcing payroll are also reasons to outsource payroll.