Top 3 reasons to bring
payroll inhouse
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#1 – CONTROL
An issue that can arise with outsourcing is the loss of control over the payroll process. Service providers mandate that you meet their deadline and work on their schedule, not your own. If there is a problem with submitted payroll information, the company must alert the outsourcer of the error and wait for them to correct it – potentially delaying your payroll.
Utilizing Optimum’s software, all of the information required to manage your employees is maintained within the system. Thus, all of the control remains in your organization to process payroll, run a report or access any employee information in real-time.
#2 – COST
The true cost behind outsourcing is often difficult to predict. Over time, a company will be faced with numerous costs such as tax filing and printing of checks, fees for every report needed and price increases solely at the discretion of the outsourcing provider. By bringing payroll in-house, many companies will see a return on their investment in as little as one year, as the purchase price of an in-house system is often equivalent to the company’s fee for only one year of outsourcing.
Companies will often falsely believe that they will need to hire additional employees if they bring payroll in-house. The truth is that the same staff responsible for outsourced payroll information and/or IT support can easily manage the duties needed for an in-house payroll system.
#3 – TAXES
With Optimum Solutions, there is no need for your staff to become tax experts as Optimum keeps the system compliant with the necessary taxing authorities. The full-featured in-house application will maintain and update federal and state tax tables and calculates the necessary taxes, thereby automating the tasks of tax filing. In fact, with Optimum Payroll the process is simplified –electronic tax filing is available at the click of a button.
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