How Outsourcing Payroll Services Saves Time and Money

What do small businesses and large corporations have in common? They both benefit from outsourcing payroll services! Whether your company is comprised of ten people or ten thousand, there are benefits to trusting the experts with your payroll services. Not only will your company avoid legal trouble with the IRS, but employees gain valuable time to work on projects and focus on customers. This service-centric perspective on business is sure to gain notoriety for your brand and, in time, improve revenue streams that reflect increased productivity. These business concepts are not new; Padgett Payroll Services® has simply streamlined the process to allow your company to function at maximum efficiency.

How much is your time worth? For some, an hour is worth minimum wage, but to others an hour is the difference between landing a crucial account and making annual budgets. Payroll services done by a trained payroll professional are completed more quickly and accurately than those completed by untrained staff. Outsourcing those activities not only saves  valuable work hours, but prevent time wasted in the future on lawsuits or paying interest fees to local, state or federal governments. Imagine what you could do with an extra eight hours in your work day. With an external company handling payroll services, it really is like being in two places at once!

Cost is the biggest driving motivator for businesses to adopt payroll management services outside their company. While large corporations find this allows employees more time to focus on customer service and reduce staff expenses, small business payroll services really offer the biggest financial benefit. On average, one third of small businesses in the United States incur $800 in annual penalties attributed to incorrect payroll management. Businesses with 20 or fewer employees find themselves most at risk for penalty payments. For a business that small, even the slightest error could lead to ruinous charges.

Risk reduction is another benefit companies discover when using Padgett payroll specialists. Businesses assume a great deal of risk by doing their own payroll management, and many soon find the crushing burden of paychecks, withholdings, W2s, and 1099s is simply too much for their teams to handle alone. Constantly changing payroll regulations and rules make it even more difficult to keep up with the legal ramifications of financial errors.

Give your company the peace of mind it deserves. Outsourced payroll management services are proven to help your employees focus on the company vision uninhibited by the threat of financial ramifications. Don’t waste company time paying unnecessary fines and interest charges to the government – take charge of your payroll management choices with Padgett Payroll Services’® expert payroll specialists and their years of experience. Contact us today to learn more about how your business could benefit from payroll management services.

Do you have the support you need to manage your small business bookkeeping? Contact us to schedule an appointment to speak with a local small business advisor.