The New Year brings about the perfect opportunity to re think your payroll processes. Are you currently outsourcing this to a payroll provider? Here’s just a few of the reasons to bring payroll in-house in 2015:
1. Cost Control
Cost is the most important factor when evaluating the benefits of in-house payroll. Although the up-front cost of running payroll in-house is larger initially because you need to purchase and implement payroll software, processing payroll in-house is much cheaper than outsourcing in the medium to long term.
2. Better control of information
In-house payroll offers far better control over the entire payroll process. Instead of exposing sensitive information about salaries, benefits and work status to an outsourced payroll provider, you’re able to keep all that private information in your own secure in-house database. In-house payroll software also provides easy access to built-in reports that allow you to analyse every aspect of your payroll. This enables you to make more effective business decisions.
In-house payroll software gives you maximum flexibility over last-minute changes. Payroll will still be processed on-time and on your schedule without also having to work around your payroll providers schedule. Any deductions or salary increases can be implemented quickly.
4. Empower Employees
Another benefit of running payroll in-house is offering payroll self-service to your employees. Make your HR processes more efficient by giving your employees remote access to personal data, holiday entitlement, payslips and p60s.
5. Hidden Fees
A payroll provider may charge for additional requirements such as changes such as adding overtime or adjusting shifts. It may also take longer to implement these changes or receive the required information. Payroll providers can also increase their costs at their own discretion.
The award-winning Opera 3 gives you the integrated tools and information for complete control of your business and processes, in the areas of financials, supply chain management, payroll and business intelligence. Ideal for the SME business market, award-winning Opera 3 Payroll & HR is a fully integrated solution designed to eliminate complicated payroll procedures by simplifying and automating tasks.
For more information about Opera 3 Payroll & HR, contact Synergy on 0845 456 0050.