- Saves time
Irrespective of the number of employees in a business, payroll processing takes time to complete, as well as attention to detail to ensure accuracy. Pay periods are recurring events, meaning that the owner or payroll processor is required to dedicate time to payroll processing. This takes time away from business-critical tasks that would support the growth of the business. By outsourcing, the business owner can focus his/her time on activities that drive the business forward and would generally need to contact the outsourcing company once a month only, saving still more time.
- Saves money
Time saved translates to money saved, in any business. The payroll process requires data capture, uploads of EFT’s, report generation for the processing of salary journals as well as determination of payroll taxes and other liabilities due to the South African Revenue Service (“SARS”), along with the filing of EMP data. Evaluate this time spent on a cost per payslip generated basis – it is virtually impossible for an outsourcing company to cost more on a per payslip basis.
- Better security
Payroll processing is especially susceptible to fraud, identity theft or tampering for personal gain. The business also faces risk of in-house payroll software failure, faulty backups and more. The safety of employee data on a company’s IT networks is also at risk. In contrast, payroll outsourcing companies provide an immediate refuge for your confidential payroll information. Their protocols include regular backups and multiple server locations, as well as industry leading systems to store and protect data as a standard for their services.
- Assurance of compliance
As a small business owner, you simply do not have the time or the means to stay abreast of changes at SARS, requirements for employee filings, and the like. Administrative errors in your business SARS submissions or late payments of PAYE will cost your business in penalties levied by SARS. Outsourced payroll providers have teams dedicated to staying abreast of developments on the regulatory landscape to ensure that this never happens in your business.
- Expertise of a professional team
By leveraging the expertise of a team of individuals trained in payroll processing and regulatory compliance, your business enjoys a solution that is “best in profession” at a cost variable usually with the volume of employees in your business. This is a syndicated solution where you can leverage the expertise that your business needs, at an affordable (and variable) cost.
With such compelling arguments for outsourcing your business’ payroll needs, your only question should be who to approach as a service provider. The MMS Group offers outsourced payroll services, we utilize industry-leading software and our team is trained, skilled and well versed in all matters pertaining to payroll compliance. If you wish to discuss your outsourced payroll needs with us, reach us here now.
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