Payroll Services: Should You Do It Yourself Or Outsource Your Payroll? What Are Payroll Services?
Put simply, payroll services are offered by an external company who has chosen to specialise in the processing of
payroll for businesses. There are many different payroll services available to businesses like yours. They all aim to simplify, streamline, expedite or reduce the cost of payroll processing. However, with so many options available, how can you be sure that you’re getting the best deal? Some of the available payroll services are aimed at smaller start up businesses and some specialise in assisting multi nationals. Some payroll services are specifically designed to make running payroll as simple as possible. This allows any business to run their payroll themselves, once they’ve mastered the software.
The one thing all payroll services have in common is their aim to save time and money for your business. After all, hiring a fully qualified accountant or payroll specialist can be expensive and many businesses can’t afford one. It’s might not always be practical or efficient to just run it yourself either. So what are the options if you can’t process your own payroll in house?
What Payroll Software Is Available To My Business?
As well as the vast number of UK payroll companies out the there who offer outsourced payroll services, their are a range of payroll software solutions that will enable you to run your own payroll. However, these payroll software systems can involve a steep learning curve for the uninitiated and are usually prove to not be as user friendly as they first appear to be. Accounting or payroll software solutions like
Quickbooks or Xero appear to offer easy to use and affordable solutions but the software can be difficult to use and many users find the low initial cost can quickly add up if they need any kind of help or assistance. In fact, it’s not uncommon for users to have to attend full day courses on how to properly use these payroll software solutions which further reduces the time and financial savings they offer.
So, whilst that initial ’30 day free trial’ offer may seem enticing, the costs after month one may not be. These costs can also become very prohibitive for new businesses. In fact, the rising associated costs can at times cripple small businesses while they are still in their infancy. Surely there is a proven, cost effective, efficient and reliable payroll service out there for UK businesses!
Running Payroll For Your Business
The most obvious option is for businesses to run their own payroll. However, there are a number of issues that can arise as a result you taking this decision. As mentioned, for a start up business, it may not be financially viable to hire a payroll specialist. It may also not be possible for them to quickly adapt to one of the many payroll software solutions available to UK businesses. So what does a business who’s decided they will run their own payroll do if these options are neither practical or affordable?
Making the wrong choice while your business is still in its infancy can saddle you with an expensive or unreliable service that isn’t fit for purpose and proves to be a huge drain on your resources. So before you decide to run your own payroll, you should analyse every option available to your business. So if hiring someone isn’t affordable, you can’t adapt to using payroll software and you don’t have the time to learn how to process your own payroll, what other options are left for your business?
Why Should You Outsource Payroll?
If none of the above solutions work for your business, you need to consider outsourcing your payroll to one of the many UK payroll companies, like us. By outsourcing your payroll, you get the benefit of a highly trained, experienced team payroll experts at a fraction of the cost. You also won’t need a degree in IT or a basic understanding of accounting because everything is done for you. That’s why more and more UK businesses are relying on businesses like ours when they choose to outsource their payroll. That’s because we deliver a truly reliable, streamlined, simple and affordable alternative to the other payroll services available on the market.
So, How Does It Work?
It couldn’t be simpler! You upload your payroll data onto our secure, GDPR compliant payroll portal as shown on screen. Once you’ve uploaded your data, our team upload it onto our systems and run a secondary failsafe check to ensure all of your data has been successfully, and correctly, uploaded. Then you can sit back, relax and wait for your payroll to processed on the date you’ve stipulated. We’ll even send you a preview report so you can ensure that everything’s perfect before it gets processed and if you need any changes, we’ll get them made before the processing date for you. The payslips are then emailled to your staff. However they can also be accessed at any time via the online portal. Sounds simple right? It has to be too good to be true!
How Much Does All This Cost?
Our payroll service starts from just £25 per month with a small cost applicable per additional payslip. That means that it would cost just
£225 per month to process the payroll for 100 members of your staff. That’s just £2.25 per payslip, per month! At that cost, can you afford to run your own payroll? How Payroll Fits Into Our Wider HR Services?
That’s not the only way that ELAS can help your business. Payroll is just a small portion of the HR functions found in every business. And we can save you time and money on HR as a whole. Whether you need payroll support,
employment law advice, tribunal representation, an absence management system or any other HR services, we can help. Why not call one of our HR consultants today on 08450 50 40 60 to discuss your requirement sand how we could help your business!