Increase accuracy with payroll outsourcing services
Your staff expect to be paid accurately and on time. Unfortunately, mistakes can happen, leading to unhappy employees, fines, and extra work.
If you’re encountering these kinds of challenges, a payroll outsourcing service (or managed payroll services) can help ensure:
- Your employees always receive their correct pay on time
- Your business complies with legislation in different states and countries
- Your staff have more time to focus on growing the business
- You avoid penalties and save money on fixing costly mistakes
Realize your global potential with a managed payroll service
Many organizations underestimate the complexity of managing payroll, which can sometimes lead to business growth taking a back seat.
Outsourced payroll services can boost your business development by:
- Automating tasks such as manual calculations, freeing up your staff
- Ensuring accuracy to help you avoid fines that can affect your bottom line
- Adhering to complex payroll regulations so you can hire from a cross-state or global talent pool
Signs your business could benefit from payroll outsourcing services
Do you notice any of these challenges within your business? If you do, managed payroll services could be the way forward.
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Compliance is a minefield
When you outsource your payroll to third-party experts, they stay ahead of the latest regulations to protect your business and employees.
Your business may need help staying compliant with federal, local, and state payroll variations such as minimum wage. For example, California has a high-income tax, while Florida has none, so determining the correct tax can take time and effort.
Unless your team has up-to-date knowledge about every country and state, they could miscalculate taxes and incur fines from the IRS; an outsourced payroll service could help you avoid costly mistakes.
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Payment errors and delays
Payroll outsourcing companies have significant experience running payroll for diverse businesses, from start-ups to global organizations. This means you can trust them to handle your payments effectively.
Employees rely on timely paychecks to cover their living expenses, so any errors can cause employees to seek more reliable employment. This can result in extra recruitment costs and negatively impact on your bottom line.
By outsourcing to a managed payroll service, your payroll will run smoothly, improving your workforce’s overall satisfaction.
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Outdated software
When you partner with a payroll outsourcing service, you benefit from state-of-the-art software that helps you adhere to the latest regulations.
Many businesses ‘get by’ using outdated software because they don’t know any different. They could also be reluctant to invest in new systems because they are unsure which system suits them – but this can lead to errors and hefty fines from the IRS.
Another benefit of outsourcing is greater data protection for your business. Outsourced payroll services use the latest security measures in their software to prevent cyber-attacks, whereas older systems are often vulnerable to data breaches.
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Missed tax deadlines
A managed service can be a lifesaver when meeting your tax deadlines. By working with third-party specialists who know everything about the latest tax regulations, you can benefit from their shared expertise and avoid costly mistakes.
These experts will accurately calculate and withhold taxes from employee paychecks, reducing the risk of errors. Plus, they handle timely tax filings and payments, which saves you admin time and helps you avoid late penalties.
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Lack of payroll expertise
Many businesses turn to an outsourced payroll service to access specialist support.
Let’s say an employee starts at your business and has to pay court-ordered child support. As their employer, you are responsible for withholding the money from their paycheck and sending it to the receiver.
If you miscalculate, your business could risk fines and legal issues. Rather than managing garnishments yourself, your payroll outsourcing service handles everything, giving you and your employees peace of mind.
Featured Guide
Outsourced payroll services: are they right for your organization?
Do you want more time to grow your business?
Download our free guide to managed payroll services and find out how to:
- Streamline operations
- Save time and money
- Reduce payroll errors
- Stay on top of legislation
- Outsource your payroll
- Switch your payroll outsourcing company
IRIS Fully Managed Payroll: outsourced payroll services
IRIS Fully Managed Payroll (FMP) is used in 139 countries, including the US, Canada, and Mexico.
We deliver simplified, comprehensive, and compliant globally managed payroll services to help your business achieve its potential.
Our services reduce your organization’s workload, save money, ensure compliance, and give you more time to grow your business.
Choosing the right payroll outsourcing services for your business
A good payroll outsourcing company can become a trusted member of your team. When you meet with potential providers, make sure they:
- Clearly explain their pricing structure
- Give you complete confidence in their experience
- Have a smooth implementation process with clear timelines
- Provide a dedicated payroll manager for quality customer service
- Offer additional services that streamline your business
“By having IRIS Payroll Solutions doing so much, my staff is able to do other things which are more important. This includes running PLS, evaluating, bookkeeping, and teaching, which allows us to service more people. We’re able to grow and retain staff because we don’t have to do extra payroll work.”
Hartmann Professional Services
Remove payroll complexity with outsourced payroll services by IRIS
IRIS Fully Managed Payroll (FMP) offers managed payroll services that help your business grow. Ensure accurate and timely payments, reduce stress, hire confidently, and avoid penalties.
Streamline your payroll today.
Outsourced payroll services: further reading
Webinar
Webinar: Navigating Payroll Compliance
Blog Article
4 key advantages of outsourced payroll services
Blog Article
