As a business owner, it was primordial for you your employees get paid on time and accurately. More and more companies are looking forward to outsourcing their payroll as it can be time-consuming, and they want to avoid at all cost any mistakes. However, outsourcing payroll for the first time can be worrying. It is very important to find a company which offers good outsourced payroll services. The main concerns’ people have when outsourcing for the first time are:
IS OUTSOURCING FLEXIBLE ENOUGH?
Usually when you work with your internal team, they don’t have the right expertise or time to answer any of your questions related to taxing and payroll. When you outsource this service, the company will be capable of an answer any of your concerns. They have the right expertise to understand what your needs are and will make sure they are fully filled.
DOES OUTSOURCING MEAN LESS CONTROL?
You might think by outsourcing to a third company you won’t have any control. This is wrong. You will always have full control. Usually you are the person who will have to sign off before any payrolls are processed. Outsourcing payroll will help you save some time and money as well as gaining expertise from professional accountants.
IS IT 100% RELIABLE?
Outsourcing Payroll Service companies handle thousands of payrolls every month. They are used to providing an accurate service. They are professional and know all their clients rely on a good-quality service. They have an accurate and controlled system to ensure they deliver payrolls on time.
IS MY DATA SECURELY STORED AND TRANSMITTED?
Security issue shouldn’t be an issue. It can be a concern at first, but you will rapidly realize that payroll data is sensitive information, which secured by payroll services company. They have heavily secured technology and use encryption to make sure no one can access your data. In some cases, data is more secured within outsourced payroll’s firms rather than in your company due to different security systems.
IS THERE ANY ALTERNATIVE?
OK, I have discussed all about outsourcing your payroll management! Are you still worried about security, efficiency and lot more stuff? You can automate your payroll management using any accounting software. There are several dozens of software available providing Accounting, Inventory and Payroll management solutions. Some of them are Quickbooks bu Intuit, Tally.ERP 9 by Tally Software and Opensource Accounting software like OpenERP or Gnukash. What you can do is to use any of the software and integrate with your official attendance system or input it manually from your business attendance! Now sit back and relax! The software will generate the payroll for you!
Outsourcing payroll shouldn’t be stressful. It should help you concentrate, and more important task related to running properly your business. If you still think, it’s really stressful for you, just use any of the software. You will be amazed to know; most of the software is now even available to Bangladesh market.
Do you have any more questions? Just let me know! I will be answering all of them. Don’t be a stranger!!
Al-Amin Kabir is a Serial Entrepreneur, Internet Marketer. He is now promoting Tally Accounting Software in Bangladesh (link: http://tallysoftware.com.bd). You can follow him twitter at twitter.com/iamalamin