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It’s a headache and payroll outsourcing is affordable, so why not do it?’ asks David Schnitt, CEO of Ledgent Inc., a Torrance, Calif.-based company that handles payroll and human resources services for clients. Carlos Rodriguez, president of ADP TotalSource, a Miami outsourcing company for HR service and benefits for small and mid-sized businesses, estimates that between 40 and 50 percent of all small companies hire an outside firm to handle payroll." – Outsource your payroll problems, by Jenny C. McCue, Bankrate.com
You can save your company valuable time and money by simply outsourcing your payroll to ECCA.
- If running a payroll in-house, you must keep track of the numerous payroll and tax regulations. According to insurancejournal.com, four out of 10 businesses pay an average fine of $845 each year because of payroll errors. Outsourcing your payroll gives you access to experts whose job it is to keep track of the constant changes to the payroll and tax regulations. Any errors made to your payroll or taxes are assumed by ECCA.
- Businesses that run their payroll in-house must purchase the necessary software; hire and train individuals to run the payroll; and invest time in entering and processing the payroll on a regular basis. Outsourcing the payroll to ECCA allows you to focus on other aspects of your company. You save time from having to enter and process the payroll as well as not having to train employees. Outsourcing also eliminates the risk of your in-house payroll person quitting, thus leaving your company in a bind.
- By running your payroll in-house, you may not be able to offer your employees the range of options that you would have by turning to ECCA. Outsourcing your payroll gives your company more flexibility and conveniences, like direct deposit, retirement plans, W-2s, and much more.
- With an outsourced payroll, you are ensured of a consistent and easily accessible pay history for all employees. The reports that you receive with each payroll allows your company to keep more accurate records.
- According to a study done by PricewaterhouseCoopers (PwC), checks processed with an in-house system cost an average of $16 a check.
- Ten reasons companies outsource:
- Reduce and control operating costs
- Improve company focus
- Gain access to world-class capabilities
- Free internal resources for other purposes
- Resources are not available internally
- Accelerate reengineering benefits
- Function difficult to manage or it’s out of control
- Make capital funds available
- Share risks
- Cash infusion
Source: Survey of Current and Potential Outsourcing End-Users, The Outsourcing Institute Membership.
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