In today’s competitive business environment and to provide viable business solution it is important to keep your product/resource cost controlled hence it is beneficial to outsource non-core functions.
Most of the support or back-office activities such as payroll are non-core functions, hence they can be easily outsourced.
Key advantage of payroll outsourcing:
· It frees up time and resources to focus more on your core business.
· It gives you access to more technology and expertise to perform payroll well.
· It reduces costs and risks.
Outsource Payroll helps Enhanced Data Security
In-house payroll is exposed to numerous risks, including identity theft and embezzlement, safety of the server. As a Professional outsourced payroll services provider Elevate maintains high level of data protection and data storage on highly secured servers that is in the cloud and Elevate use data encryption technology to ensure client’s employee & payroll information is safe. We use electronic payment methods so that if an error occurs, it can be easily traced, helping to protect you against potential losses. This is all included in the outsourced service provided, while attempting to do the same in-house would be very expensive.
Access the Latest Payroll Technology
We have used advance global payroll cloud-based systems to manage important data, ensuring better data integrity as well as visibility and audit-tracking of payroll processing. Cause of having a centralized system to keep data and information client can access the data anytime anywhere . That makes Elevate’s client more comfortable cause of easy and quick access to the system.
We also offer cross-functional collaborations with related systems, which can be key to the success of an organization. Integration of HR and payroll systems can offer many benefits over separate functions, including time savings, increased efficiency, and reduced IT and administrative costs. Human resources and payroll systems integration facilitates seamless sharing of employee data and removes the need for teams to manually transfer data before and after processing, making things faster and more secure. For example, updates made by HR such as promotions, redundancies, or terminations are automatically made available to payroll, saving time in both departments and dramatically reducing the opportunity for errors to occur. Organizations are better protected in this way, as the information used for running payroll, tax filing, and benefits calculations is free from discrepancies.
The technology used by our team in Elevate for Payroll Solutions that makes us enable to deliver significant observations into your payroll and man management through innovative analytics tools. Other than general reporting proficiencies , performance analytics can identify if there is any mistakes and how often it occur and the cost bearing of those issues and the how to have a proper control over it .
Avoid WPS Penalties by Outsourcing Payroll
Organizations of all sizes are outsourcing global payroll to avail of the expertise offered by experienced, fully managed payroll teams. Employment regulations, data and compliance requirements, and WPS legislations can be complex for the inexperienced and updates are incorporated periodically.
The professionals managing a company’s outsource payroll are required to keep up-to-date on changing regulations and country requirements and will maintain accurate records and prepare payroll data and statutory filings accurately and on time. Our people are well trained to do this . For Business Owners now a days are highly trusting to Elevate as their Payroll Management partner. Outsourcing Payroll to Elevate transfers the risk of any penalty, tax issues , in accuracy to Elevate . Same time Business Leaders can focus more on the Business Development, client meetings and improving workflow productivities .
An outsourced solution will deliver peace of mind and free up time in your company, ultimately saving you money and reducing compliance risk—and helping you deliver the payroll experience your employees deserve.
Elevate as an Payrolls Service Provider is managing Payroll for companies in the field of Construction, Petroleum, Educational Institutes, F& B industry where the employee numbers are high as 500 to 1000. To have a proper control over a huge Payroll Management process for multiple clients Elevate Auditing has their experienced team in place.
Written by :
Shafkat Sayed
Head Outsource HR and Payroll Management Services
Elevate Business Solutions DMCC