What to Consider When Outsourcing Payroll

Payroll services are becoming increasingly popular for Australian small, medium and large organisations. Business leaders are recognising that employing a dedicated payroll officer is inefficient and that they lack the in-depth expertise a payroll service can guarantee. For example, you’re likely to require a service that guarantees its turnaround times and accuracy.

Additionally, looking for local payroll services should be a number one priority – so ensure you’re only targeting companies who answer enquiries in Australia, with software that has been written in Australia specifically for Australian businesses.

Why Companies Are Turning to Outsourcing Payroll

Dedicated payroll services offer a number of benefits to your business. As businesses continue searching for innovative ways to establish a competitive advantage, they are realising how they can implement more efficient payroll systems.

Specifically, outsourcing payroll provides you with:

Additional resources – as outsourcing is more efficient, you can focus your cash and employees on tasks that more directly increase the profitability of your company. Payroll service providers save Australian businesses up to 70% of their internal payroll expenses.

Peace of mind about compliance – payroll service providers immerse themselves in the payroll regulations of every state and territory in Australia. As they have multiple experts, they specialise in niche areas to ensure that, as a team, they have every detail and all the latest changes covered. Your Payroll Tax and PAYG obligations will always be met in a timely manner. That level of expertise is beyond what an in-house payroll officer can provide.

An audit of your Payroll – it’s highly likely that at some time in the past, someone may have made a mistake regarding your payroll – but how do you know and how do you gain visibility of this? An audit can assist in revealing this information.

The ability to review your payroll – payroll service providers can offer 24/7 web access for both you and your employees. This allows you to track wages accurately at any point in time, without waiting for a payroll officer to complete and send you a report. You will also have a dedicated Australian payroll consultant, who you can ask questions and receive detailed and accurate answers from. They can help you structure your wages to optimise your payroll resources.

Eliminate manual systems and spreadsheets – you can drive process improvements by implementing Employee Self Service (ESS) overnight. You’d be surprised at how many companies are still using paper-based leave forms, spreadsheets and handing out payslips manually. Fortunately, the technology is now available that helps streamline these processes – for example, a cloud based solution that combines with ESS to replace the manual functions like project leave, payslip downloading and managing employee details. This helps by freeing up your staff to focus on  your core business objectives.

The 3 Requirements of Payroll Service Providers

The three benefits mentioned above are the most important requirements you must find in a payroll service provider. By looking for those qualities, you will ensure a smooth, compliant, and secure payroll system. To reiterate, they are:

They must be more efficient than your current payroll system;
They must have the expertise to ensure your compliance; and

3. They must provide visibility of your payroll for you and your employees.

A Payroll Service Provider You Can Rely On

Here at Nobel Thomas, we provide Australian businesses with innovative payroll tools and online payroll solutions. Not only does this improve your business operations, it gives employees more confidence in your organisation.

We don’t take one-size fits all approach like other payroll providers. At Nobel Thomas we tailor a system to fit your unique business. Our wide range of tools and expertise allow us to provide relevant tools to your business – this saves you up to 70% on your total payroll costs.

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