5 advantages of outsourcing your payroll services

Benefit 1: Save cost to grow your business

Outsourcing payroll means increased cost savings in the long run as compared to in-house payroll. Processing payroll in-house means investing in payroll/accounting software and computer infrastructure that is often costly to maintain and upkeep. You’ll likely also need a dedicated payroll personnel to manage and run all these. The cost of upscaling your payroll team skyrockets as you scale up your operations. Many businesses often underestimate the investment required to run payroll in the long run.

Besides, payroll and tax regulations are often complex and subject to change – you and your team will need training to gain the expertise required to calculate these. 

Outsourcing payroll services means you avoid all the costs of subscribing to expensive payroll software, infrastructure, training and not to mention hefty fines in the event of incorrect payments. These cost savings can then be transferred to growing your business – while keeping your staff happy when they’re paid accurately and on time.

Benefit 3: Payroll that’s efficient and accurate

Payroll processing is highly time-consuming. Every year, significant hours are spent tallying taxes, mandatory deductions and ensuring local and overseas regulation changes are reflected accurately and on time in your payroll. These are often menial tasks that are often frustrating as well.

An advantage of working with a payroll provider means you get access to specialized expertise and the latest payroll technology. More importantly, you get payroll that’s done faster, smarter and easier. With ADP as your payroll provider, you’ll get a peace of mind as you:

• Pay, track, manage, and analyse all employee activity in a single solution
• Access the latest multi-country payroll data in a single view
• Have local statutory reports such as IR8A done for you
• Get CPF and other compulsory contributions deducted on your behalf
• Save time with our IRAS-integrated payroll solution

Benefit 5: Your employees get the experience they deserve

Our recent People at Work 2021: A Global Workforce View research found that 20% of employees say they are always or often underpaid, 16% are always or often overpaid and 41% say they are always, often or sometimes paid late.

With payroll outsourcing, your payroll provider should not only make sure your employees are always paid accurately on time, but also have access to cloud-based payroll software that’s simple and easy to use. Save time and empower your team with easy-to-use digital tools and meaningful perks. Your employees can apply for leave and view their payslips from any device 24/7. Most importantly, don’t risk data security with an unreliable provider! Your provider should be using a payroll system that meets proper security standards that ensures your employees’ data confidentiality.