Benefits of Outsourcing Payroll to an Australian Payroll Services Company
Outsourcing payroll allows businesses and business owners more time to focus on other productive and value-adding business functions. With regular legislative and regulation changes, doing your payroll ‘in-house’ can be a complicated function of your business. Australia has one of the most complex payroll environments in the world and as a result, requires more than just push-of-a-button-software. Outsourcing your business’ payroll to professionals who are up-to-date with forever changing Government regulations can quickly and effectively save you time, money and a whole lot of heartache. PaysOnline’s Best Practice Solution provides all you need (and more) to efficiently run your payroll.
Benefits of outsourcing your payroll to an Australian company.
- Spend critical time focusing on your business, rather than on a function of it.
- Reduce the risks and associated costs of in-house payroll processing.
- Improve security and increase transparency of the payroll process.
- Access support and assistance with regulatory and legislative compliance.
- Access value adding features that offer solutions to your workforce problems.
Time is a Critical Resource
Payroll is critical to business, and as your business grows, “in-house” payroll processing can quickly drain valuable employee resources. It’s easy to understand how time can be saved by outsourcing the payroll function when you consider time spent on compliance issues, Government regulations, staff training and ensuring integrated systems perform correctly. PaysOnline utilises custom-built cloud-based technology and integrated hardware to help your business across key areas such as Talent Management, Rostering, Time and Attendance, Payroll and Business Intelligence. Outsourcing payroll to PaysOnline gives your employees more control through a self-service portal, which allows you to focus your energy on the business rather than on managing data entry.
Reduce Risk and Associated Costs
Hiring a full-time staff member to deal only with the company payroll is a large company expense. Research conducted by PwC has shown that for large organisations, operating payroll internally typically costs $1400 per employee, per year, and nearly $2000 per employee, per year for medium organisations. Costs are affected by factors such as employing an accountant or accounts team, training costs, investing in payroll software and making sure your network and systems are secure.
Payroll is a highly regulated area of business and relying solely on the knowledge of someone who is not experienced in payroll legislation puts your business at risk of severe penalties. Rather than having to pay an “in-house” annual salary, outsourcing payroll to PaysOnline will mean you only pay a low ‘cost per employee’ and receive the knowledge and expertise of an entire Australian-based team.
Improved Security and Increased Transparency
Containing extremely lucrative and sensitive data, payroll has become the target of criminal activity in recent years. The threats to your data are internal and external and include things such as employees accessing personal data to engage in identity theft, tampering with information for personal gain and hackers gaining access through security flaws. Ensuring your data is kept securely is paramount and this kind of environment can prove costly.
PaysOnline’s client data is encrypted both in-transit and while at rest. We utilise top-tier Australian web and data hosting provider Amazon Web Services; the same provider used by the Australian Government. Our system is built to withstand and detect both internal and external attacks. You can trust that your information will be safe with PaysOnline and our payroll specialists.
Access to Compliance Support
Payroll and compliance go hand in hand. Completing your payroll internally requires those in charge to remain up-to-date with ever changing government regulations and legislation. Accidental or not, errors or misjudgements made by payroll staff are subject to substantial Government penalties where the business owner can be personally responsible both legally and financially. Regardless of how many years your pay staff have been running payroll, unless they’re trained professionals you run the risk breaching your compliance obligations. Outsourcing payroll to PaysOnline means a particular focus is payroll management – we understand the ins-and-outs of payroll and all that comes with it. Our team of payroll specialists can assist you and your business in remaining compliant.
Value Adding Products and Functionality
Outsourcing doesn’t only mean payroll. PaysOnline offers much more than just payroll services. We’ve been refining our Best Practice Solution for more than two decades and have developed a solution for your business across areas such as Talent Management, Time and Attendance, Rostering, Payroll, and Business Intelligence. By outsourcing your business’ payroll to PaysOnline, you can also take advantage of our total workforce management options.
PaysOnline’s Best Practice Solution provides you peace of mind and guarantees to make payroll stresses a thing of the past.
Request a meeting with us today to discuss a solution tailored to your business.
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