It is undeniable that one of the most critical component in running a business is delegation. Certain roles and responsibilities must be passed to the right people to achieve an organisation’s maximum potential and vision. One essential part of the business that you can delegate to a third-party service provider is payroll.
Accounting firms offer customised payroll services, which have the potential to save business’ substantial costs as compared to an in-house payroll professional. They also provide comprehensive HR solutions for small and mid-sized businesses. HR, benefits, tax administration, and regulatory compliance assistance are some of the many services they provide.
By taking care of paperwork and providing regulatory compliance assistance, businesses improve productivity, increase profitability, and focus on the organisation’s core mission.
Why Outsource Payroll Services?
1. Time-saving and convenient
Payroll can be time-consuming and complicated. It requires a lot of attention to detail and can consume more time as staff numbers grow. By outsourcing payroll processing, key personnel (such as admin, human resource and accountant) who used to handle this can now focus on the core tasks of your business. The hassle of other payroll-related activities such as bank transfers, paycheck and pay slips distribution will also be eliminated because the outsourced payroll service provider can do all of these.
Instead of making major investments in personnel recruitment, training, and software, you can just pay for the payroll service needed. It can be a lot cheaper, and it can also help you control your costs. Efficiency of the business is also increased because you are getting expert help without the need to hire experts full-time.
3. Local Regulation Compliance
In payroll preparation, the existing labor laws of the country of business will be complied. This includes taxes, social insurance and other statutory contributions. Filing and payment of such, and even answering to employee inquiries, will also be handled by the payroll provider so you can be rest assured that you are up-to-date with changing regulations and ensure that filings are accurate and on time.
4. Expertise of Payroll Provider
You can avail the expertise offered by experienced payroll teams. These experts are required to be knowledgable and up to date with changing regulations and requirements and will maintain accurate records for improved and proficient documentation. There are the added benefits of advanced technology to manage important data and ensure better data integrity. All of these can help avoid mistakes and penalties so you can spend more time on building sales and marketing strategies.
CRESCO Accounting provides customised payroll services to different countries like the United Arab Emirates, Seychelles, Philippines and is soon to expand in the United Kingdom, United States of America, and Australia.
During on-boarding, our team conducts an analysis of the accounts and set it up in our comprehensive in-house system that can easily generate payroll, prepare bank transfers and distribute pay slips.
We are highly flexible and can give you 24/7 support via phone, email and thru our website. Trusted by clients in different countries, we maintain high confidentiality to promote good atmosphere within your organisation. All of these, at an affordable rate and customisable packages.
Contact CRESCO Accounting now to be assured of a payroll experience your employees and organisation deserves!