Outsourcing payroll has been proven a boon for many a small businesses. It is an efficient and valuable alternative to managing payroll in-house. By outsourcing, the company can reduce time its employees spend on processing payroll, determining tax obligations, preparing checks and providing management reports. In addition, the payroll service provider can offer other services such as automated signatures as well as direct deposit of checks.
It is highly recommended that smaller companies outsource non-core processes such as payroll if they want to take on larger companies. Payroll services are one of the primary aspects of conducting business that new entrepreneurs outsource, and the benefits can add up. Instead of spending a significant amount of time “determining tax obligations,” “providing management reports,” “calculating payroll,” and “preparing checks,” owners and their employees can focus on the rest of their work pile.
Tax compliances keep changing from time to time. Inevitably, some companies are bound to make an error in their calculations. Thus payroll service providers are constantly updated with the ever changing norms so that provide accurate services to their clients on a consistent basis. This can help to save time spent on calculating taxes and potentially refiling them later.
Outsourcing payroll services saves small businesses a lot of time than they would by conducting the process in-house with their limited number of employees. There are many cases where employees waste a lot of their time which prevents them from pursuing other much more important value-added and revenue-generating activities. Not just that but they also save time spent on going to and from their bank to make deposits.
Creating financial reports of small business is a necessary yet extremely time-consuming process. Some payroll service providers also offer a variety of report services that include summaries on earning statements, payroll by departments, timesheets, expenses, etc. It certainly helps smaller businesses maintain a detailed records of their financial history.
In-house payroll processing takes up a lot of time of smaller company’s internal staff. It also diverts their focus from essential initiatives related to developing the business. Paysquare payroll service provider helps such companies save money and improve productivity by providing competitive services. A large number of companies have put their trust in Paysquare and by outsourcing their payroll needs and reaped the benefits of their decision.
Paysquare is a specialist in the area of end to end payroll outsourcing and provides its services across India. Headquartered in Pune, India, Paysquare was incorporated in 2000. Paysquare solves and streamlines its clients’ payroll processes. For over 14 years our team of experts is committed to providing Consistent, Accurate, and Timely processing of your companies payroll.
Paysquare currently processes over 1,20,000 payroll records every month across 300+ clients across India. Most of the clients have been with Paysquare for several years. Across our engagements, we have provided 100% accuracy in payroll processing.
Paysquare follows international standards in its operations and is ISO 27001 as well as ISAE 3402 – SSAE 16 certified. Paysquare also has Business Continuity plans (BCP) as well as Disaster Recovery plans (DRP) in place to ensure that any calamity does not affect business operations of clients.