Benefits of Outsourcing Payroll

If you’ve been managing payroll for any length of time, you know just how time-intensive it can be. That’s one reason it’s so important for companies to make sure their payroll system is both efficient and accurate. If it’s not, you could end up logging extra hours on redundant tasks and error correction. This is the reality most small businesses face. By partnering with a Professional Employment Organization (PEO) like OneSource, most of the payroll responsibilities – wage calculations, tax withholdings and deposits, reporting, and more – are handled by the PEO.  Payroll outsourcing is the use of a third-party service provider to handle the administrative and compliance tasks associated with employee pay.

Top reasons to outsource payroll

• Save time - When employers take payroll off their plate, they often have more time to focus on other initiatives important to growing their business, such as product development, customer service, and sales.
• Minimize payroll errors - Payroll providers automate many of the labor-intensive aspects of payroll, thereby reducing the mistakes that commonly result from manual calculations and data entry.
• Maintain compliance - Payroll providers stay on top of changing government regulations so employers don’t have to. 
• Employee self-service - Full-service payroll typically allows employees to view their pay information, log their hours, and manage their withholdings – all from a mobile device.
• Reduce costs - Payroll providers charge fees, but when compared to the cost of the fines and penalties that can result from mistakes, outsourcing payroll may actually save businesses money.

If you’re ready to take a step toward partnering with a PEO and outsourcing your payroll, OneSource Business Solutions can help.  Reach out to us and we’ll answer any questions.