Most reason why companies choose to outsource business functions such payroll is for the company to cut its cost and focus more on business core activities. Businesses are not yet fully recovered with the last year's financial crisis, are deciding for company's sake and just let go of their employees. Yes, outsourcing had its price too.
The following are various ways a company can outsource business functions:
Manual Labor - Most of manufacturing companies now are not too dependent to physical labor of the human resource. The advancement of technology enables big companies to rely of state of the art equipment and robot that only needs minor human intervention. What makes this equipment an essential to factories is their efficiency and almost perfect quality of work. With manufacturing companies that rely heavily now with equipment are the ones that lay off human force.
Bookkeeping- Bookkeeping aside from payroll are outsourced separately, though other outsourcing company combines both as part of the outsourcing package. Most accounting offices will do the job of a bookkeeper with a minimum cost of the company. One down side with this kind of set up though is that the company owner who wants to examine the books for reference purposes must always coordinate with the outsourcing company.
Payroll- Outsourcing the company's traditional in-house payroll can save a lot of money in the company's part. Payroll taxes are usually included in the package. It only costs a fraction a company will spend in traditional in- house payroll to the expenditure the company will incur in outsourced payroll.
Salary is a much awaited period for any working individual. That is why it is a must to have payroll computations free of errors and inconsistencies. Traditional in-house payroll will be impossible to have an error-free computation and correcting errors may take a while, this is primarily the downside of in-house payroll team, which can be totally eliminated through outsourced payroll.
We perform the same services as traditional payroll management services for roughly half the cost. Unlike other online payroll services and payroll software, our service goes beyond making calculations and simple reporting. Compared to doing payroll yourself, we reduce payroll time from a couple hours per pay period to 5 minutes or less.
Article Source: http://EzineArticles.com/?expert=Lindy_Schene
The following are various ways a company can outsource business functions:
Manual Labor - Most of manufacturing companies now are not too dependent to physical labor of the human resource. The advancement of technology enables big companies to rely of state of the art equipment and robot that only needs minor human intervention. What makes this equipment an essential to factories is their efficiency and almost perfect quality of work. With manufacturing companies that rely heavily now with equipment are the ones that lay off human force.
Bookkeeping- Bookkeeping aside from payroll are outsourced separately, though other outsourcing company combines both as part of the outsourcing package. Most accounting offices will do the job of a bookkeeper with a minimum cost of the company. One down side with this kind of set up though is that the company owner who wants to examine the books for reference purposes must always coordinate with the outsourcing company.
Payroll- Outsourcing the company's traditional in-house payroll can save a lot of money in the company's part. Payroll taxes are usually included in the package. It only costs a fraction a company will spend in traditional in- house payroll to the expenditure the company will incur in outsourced payroll.
Salary is a much awaited period for any working individual. That is why it is a must to have payroll computations free of errors and inconsistencies. Traditional in-house payroll will be impossible to have an error-free computation and correcting errors may take a while, this is primarily the downside of in-house payroll team, which can be totally eliminated through outsourced payroll.
We perform the same services as traditional payroll management services for roughly half the cost. Unlike other online payroll services and payroll software, our service goes beyond making calculations and simple reporting. Compared to doing payroll yourself, we reduce payroll time from a couple hours per pay period to 5 minutes or less.
Article Source: http://EzineArticles.com/?expert=Lindy_Schene
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