Businesses often expand geographically and by acquistion.  Frequently, operations are largely autonomous with largely decentralised operations.  However, as businesses expand more and more centralisation takes place to realise the benefits from economies of scale and the efficiencies of standardisation of organisational processes. Processing transactions is a commodity process and therefore, a prime activity to centralise and realise these benefits. 

The next step in creating value is to outsource your accounting services to lowest cost provider through a shared service organisation.  Shared services are now widely used and many major corporations have outsourced their accounting services for many years.   It makes good financial sense where commodity services can be provided at a standard that is 'fit for purpose' at a lower cost.

Payroll services have led the way for many businesses.  Outsourcing payroll services has been acceptable for many years. Some of the reasons why outsourcing your payroll can be beneficial are:

• reduced operating costs.  Economies of scale are realised and shared - provision of an in-house payroll service can be very expensive for a relatively small and/ multi-site business;
• reduced software costs;
• saving time. Legislation changes can make it a time-consuming process which requires a lot of training;
• more efficient.  Specialist payroll staff are familiar with and handle all the legislative requirements including changes in employee legislation, for example with maternity and paternity arrangements and student loans. This is especially beneficial given the recent increases in penalties for non-compliance of the regulations;
• increased data security - keeping files backed up off premises, and secure from unauthorised third parties; and
• freeing you management time.  It will allow you to focus on the core areas of running your business.

Outsourcing your accounting services will realise similar benefits.  Historically, the principle barrier to outsourcing accounting services was accessibility to the information but with the advancement in 24/7 telecommunications technology and imaging technology access to information is real time and information is accessible from any location at any time.   The barriers that remain are largely emotional.

Outsourced Payroll Services

Our specialist payroll services can process payrolls both quickly and accurately as a result of us having the relevant software and training.  We have vast experience in payroll services for complex pay, high volume, high staff turnover businesses and our specialists are familiar with all the related employment and payroll legislation. 

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