Challenges managing your own payroll? Outsourcing your payroll can be a game-changer for your business, but it's essential to do it right. After all, if it's not done correctly, it could be moving the problem from one place to another.
At BDO, we focus on three key areas to ensure that outsourcing payroll is right for you and your business.
First, let's talk about people. You need to have an operating model in place to support your business tasks and objectives. This means having an internal touchpoint either in HR or working alongside HR to co-ordinate activities such as payroll inputs and outputs, manage internal stakeholders and be responsible for the payroll partner service. With the right people, you can rest assured that your outsourcing experience will be seamless.
Your processes must be well defined, and agreed ways of working need to be reviewed and agreed across data transfers, inputs, processing, reporting and outputs. This will drive consistency in approach and support quality data going between both parties and reduce the risk of error. With well-defined processes in place, you'll have peace of mind that everything is running smoothly.
Finally, let's talk about technology. Most payroll providers have a selected software they work with but can also work outside this. Working with payroll providers to leverage available technology will help drive return on investment. This can be done a phased basis, but automation in inputs and outputs is often overlooked, and manual processes remain. By leveraging the latest technology, you can streamline your payroll processes and save time and money.
At BDO, we encourage all organisations to look at these areas when outsourcing to maximise the return on their investment. With the right people, processes, and technology in place, outsourcing your payroll can make a significant impact to drive your business forward.
Contact us today to learn how we can help you streamline your payroll processes and take your business to the next level.
Peter Carroll, Partner, Outsourcing and Payroll, firstname.lastname@example.org
Colette Kenny, Senior Manager, Outsourcing and Payroll, email@example.com
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