To Discover how our highly-trained team of payroll experts can help expand your payroll service provision make an enquiry or download our Payroll Services brochure from the link below.
Resource-intensive, time-consuming and complex, payroll services are often poorly regarded by most accountants. Where accountants do offer a payroll processing service many do so reluctantly. Consequently they offer payroll processing as part of a wider portfolio of accountancy services in order to provide clients with a ‘full service’ solution.
For most accountants outsourcing payroll services can alleviate the challenges associated with delivering payroll services in-house, increasing profit margins while enhancing the portfolio of services they can offer. Through payroll outsourcing accountants can benefit from an increase in the amount of time they have available for developing their core accountancy services and improving their client relationships, instead of managing an resource-intensive and costly in-house payroll service
Some of the world’s largest international accountancy firms and payroll providers choose Paycheck Plus to manage Irish and UK payrolls for their clients.
- Save Time and ResourceBy outsourcing your payroll service, you no longer need to staff and resource an inhouse team. Not only will this free up valuable office space for use by more profitable fee-earners but the administrative and management burden of overseeing the payroll function is eliminated. Furthermore, you will avoid the recruitment costs associated with hiring payroll staff.
- Increase ProfitPayroll is a low margin, resource-heavy service to provide, particularly when associated costs such as specialist software, payroll experts and general office overheads are accounted for. By outsourcing your payroll service, the need for specialist staff and software is eliminated, increasing your margins whilst still invoicing clients directly.
- Enhance your payroll serviceWhen you outsource your payroll service to Paycheck Plus, you will immediately have access to our full portfolio of payroll features, including e-payslips, highly automated payroll operations, a collaboration platform, and detailed reports. These enhancements (which would be challenging to implement inhouse without significant investment in specialist software) will allow you to improve the payroll service you offer to your clients (thereby giving you a competitive advantage), and potentially charge a little more, increasing your margin. What’s more, a dedicated payroll provider will often be able to offer a faster turnaround time for urgent projects, as they will have a much larger and more experienced team to call upon.
- Improve your payroll accuracyPayroll legislation is subject to regular change and requires frequent training and an inhouse expert who can stay abreast of the amendments whilst also understanding their implications. Without this, the risk of calculation errors is increased. By outsourcing your payroll service, you have access to a team of specialists, all of whom are experts in payroll legislation, and will ensure that the payroll completed for your clients in your name is accurate and in accordance with current legislation at all times.
- Reduce your riskPayroll is fraught with difficulty. From a reliance on data entry to regular changes in legislation, it is a challenging service to deliver effectively, and particularly when you consider clients’ expectation of complete accuracy. The only way to mitigate this risk inhouse is to employ payroll experts and invest in specialist software, but to do so is likely to reduce margins to an unsustainable level. By outsourcing your payroll service, your risk is immediately reduced, whilst allowing you to maintain and potentially increase your profits.
- Avoid conflicts of interestBy outsourcing your payroll service, you can avoid any conflicts of interest that may arise with other services offered to clients (particularly audit). Furthermore, it allows you to concentrate on your core business – offering accountancy services – whilst continuing to provide your clients with a full-service solution. Your time is better spent growing client relationships, scaling your business, and developing new and added value services. Outsourcing your payroll service gives you the scope to do this.