Can Outsourcing Payroll Really Save Money For Your Business?

1
Can Outsourcing Payroll Really Save Money For
Your Business?
2

• Contrary to what some non-business minds may tell
  you, when put in place effectively, outsourcing
  payroll can be a fantastic way of cutting costs
  and giving a business an even better return on
  their investment. Read on to know more
• How can outsourcing payroll save money for your
  business?
• Getting paid as a professional payroll service,
  means receiving money for the number of checks
  that they produce. As a result, processing
  payroll becomes the type of cost that can vary
  greatly depending on the number of employees
  less staff, less checks to produce, less costs to
  pay to the payroll company. When you employ a
  staff member to work solely on processing
  payroll, they will be on a fixed rate that does
  not alter irrespective of how small your team of
  employees may be.

3

• Not only can outsourcing payroll benefit your
  company financially, but with an in-house team or
  single staff member assigned to payroll duties,
  they may find themselves falling behind with the
  workload due to their lack of up to date
  knowledge of rules and regulations, time
  restrictions placed upon them, and so forth. An
  outsourced payroll professional makes it their
  business to get everything processed in time and
  accurately, while remaining compliant with state
  and federal law. They also never take unpaid
  leave, dont receive sick pay and will usually be
  available around holiday times to ensure that
  payroll continues to be processed unhindered.

4

• In what other ways can outsourcing payroll be
  cost effective for your business?
• The benefits of outsourcing payroll from a
  financial perspective are many and varied, and
  here are just a few more of them
• Risk of penalties is greatly reduced
• Many businesses every year are subjected to
  costly penalties for failing to comply in all
  areas of payroll, but when you outsource payroll
  to a pro, the risk is not only dramatically
  reduced, but should you incur any penalties, they
  will take full responsibility.

5

• Risk of costly errors is eliminated
• Your payroll professional will have access to
  superior systems that totally eliminate the
  errors that can be made when calculating paid
  hours and taxes, and since these can be costly
  and time consuming if they have to be redone, it
  makes clear financial sense to outsource these
  duties.
• They will give you in-depth management reports
• These reports will give you, the business owner
  or manager, the ability to better define and
  control your labor costs and enable you to
  integrate the data with your accounting system.

6

• Automated timekeeping will be at your disposal
• Your outsourced payroll professional will supply
  you with a high quality and incredibly accurate
  timekeeping system, that wipes out almost all the
  costs associated with tracking employees time
  while theyre at work.
• Determining your pre-tax credits
• Many employers are unaware of pre-tax deductions,
  or simply dont bother to use them to their
  advantage. A payroll professional will help you
  work out these benefits and often create other
  tax savings that can end up totalling more than
  the cost of hiring them.

7

• Managing your employees, their benefits and many
  other HR issues can all be tackled by an
  outsourced payroll pro, and as these areas are
  extremely important and can be risky and costly
  if ignored, it gives you yet another incentive to
  handle payroll outside of your company.
• As youll see from reading through the
  information above, outsourcing payroll can have
  very real monetary benefits for a business, and
  if as a business owner, you believe that keeping
  payroll within your workforce is a smart, cost
  effective move, you might well want to think
  again.

8

• Apollo Payroll is one of the premier small
  business payroll services companies in Miami and
  Coral Gables. Apollo Payroll is dedicated to
  delivering expert advice, responsive service, and
  highly accurate payroll processing and reporting
  to ensure the success and growth of the business
  that we serve. Our services include comprehensive
  payroll services in Homestead and other cities in
  Miami-Dade County, employee background check and
  group health insurance in Miami Coral Gables