The moment you cease to introduce innovation to your business is when you’ll see a drop in team engagement and productive output. Your financial structure should strive for agile workflow and an optimised investment of time and money. If outsourcing payroll is a solution you hope to explore in 2019, here’s 5 reasons why many businesses are making the change.
Reclaim your time
There is a single resource that offers intrinsic value to any business, time. There is only a finite amount of time in your working day, which presents a number of problems for too many Australian businesses. If your team struggles to complete foundation work, not to mention additional work that can optimise future operations, it is time to explore outsourced payroll. You and your workforce were hired as leaders in your domain, and so it is critical that are have the time to be just that. Reclaim those lost hours and apply them to other facets of your financial vocation.
Reduce your costs
There are many advantages to having a larger workforce, not the least of which allow you to spread your services across several touch points. However, that’s not always the most effective way to run a business, and you will see it in your bottom line. Outsourcing your payroll will allow you to reduce your headcount and subsequent space and operating costs that support a heavier workforce. Understand what your ideal work structure looks like with the utilisation of an outsourced payroll solution to appreciate the financial savings that you stand to gain.
Access to expert technology
Some businesses are not afforded the luxury of acquiring the most modern programs that facilitate a suite of reports and streamlined capabilities. That’s where outsourced payroll can add untold value to your business. The industry experts employed by i3 Group receive regular training in processes and procedures, deploying state of the art technology on all client work. Reporting design and the time it consumes is a point of contention in most workplaces, a responsibility that is mastered by your outsourced payroll provider. This gives you access to a comprehensive set of reporting functions that can inform greater business decisions.
Private information is kept offsite
The handling of privacy and compliance falls solely on the financial department, a responsibility that can weigh on the workloads and minds of your chief financial controller. This doesn’t have to be the case. Outsourcing your payroll will eliminate the need to store unnecessary sensitive information, handing your data to an entirely secure third party resource.
Each business is unique. From the industry you operate in, to the working arrangements you have with your employees and contractors. The benefit of outsourcing payroll with i3 Group is that you can take advantage of tailored solutions that will add specific value to your business, rather than a blanket approach. With a collection of services designed for businesses of all varieties, get your payroll working for you.
Making the decision to outsource your payroll to a trusted expert provider is a long term solution which yields structural and technical advantages. To successfully work ‘on’ the business, it is critical that you spend less time working ‘in’ the business.
Talk to the leaders in payroll management services, by contacting i3 Group online or call (03) 8340 1600.