What is Payroll Outsourcing?

One of the most significant breakthroughs in the field of management, according to the Harvard Business School, is outsourcing. The strategy to outsourcing is to, firstly identify the core activities which are the essence of the company and turn the payroll management services focus on these, while concurrently transferring the other activities on a recurring basis, to a service provider who specializes in them.

Payroll outsourcing

Payroll Outsourcing which involves employing an outside agency to do the routine work of managing salary, its calculation and payment, along with any other related functions, has transformed into an extremely successful industry. India is today one of the major destinations for payroll outsourcing.

Some of the reasons for this are:

• Team is headed by group of Chartered Accountants which means all the statutory laws are taken care.
• Cost savings for the company on outsourcing payroll processing are extremely significant and can go upto 50% at times.
• Reductions and cost effectiveness can be achieved.
• Productivity is improved, as service quality provided is excellent and this frees the company from non-income generating tasks.
• Latest technology and software for payroll processing are used.
• Indian payroll processing service providers have a very highly specialized and expansive knowledge base in finance and accounting which would be of help to businesses globally.
• These service providers are fluent in English and extremely competent and efficient.
• Where India and the USA are concerned, the time difference is also favourable, thus work completion is faster.

Payroll outsourcing has been highly productive for companies and has been functioning since 1997. In the past five years this industry has recorded a CAGR of 15 per cent. In short, it is a win-win situation.

Process: WHAT IS THE PROCESS?
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Important link: ADVANTAGES OF PAYROLL OUTSOURCING

Payroll is more than just cutting Paychecks

One of the most significant breakthroughs in the field of management, according to the Harvard Business School, is outsourcing and Payroll outsourcing has been highly productive for companies and has been functioning since 1997. In the past five years this industry has recorded a CAGR of 15 per cent. In short, it is a win-win situation.

For any business, managing payroll is indeed a dreadful task as it consumes a lot of man hours and is not also income generating. Employees are the backbone of every business. And businesses need to pay their staff. Payroll can also be your company’s biggest headache if it isn’t done correctly. Payroll processing is more than entering hours and printing paychecks. Simple mistakes can cost penalties and interest. In addition to keeping up with dynamic business scenario and government regulations, payroll processing proves to be time-consuming and costly tasks for most businesses.

Whoever is doing your payroll whether a service provider or a member of your team must understand the relevant tax laws and regulations, all of which vary considerably from state to state. It can be an administrative headache, and mistakes could mean a phone call—or worse—from the taxation department.

Payroll Outsourcing India 

So, Brooks Consulting helps your business to run efficiently and smoothly, as we take on the tedious and time consuming task of payroll processing for you. Our approach to payroll is the standard you were waiting for. Not only do we prepare your payroll, we go beyond in providing you more than you expect. That’s why, we awarded as BEST PAYROLL MANAGEMENT FIRM OF THE YEAR IN INDIA 2017 by BBC Knowledge.

Process: WHAT IS THE PROCESS?

Read More: HOW WE HELP YOU?

Important link: ADVANTAGES OF PAYROLL OUTSOURCING