Introduction 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 management s focus on these. 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. Some of the reasons for this are: Cost savings for the company on outsourcing payroll processing are extremely significant and can go upto 50% at times. 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 specialised and expansive knowledge base in finance and accounting which would be of help to businesses nationally. These service providers are fluent in English and extremely competent and efficient. Payroll outsourcing to India 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. Advantage of Payroll Outsourcing Outsourcing payroll processing offers phenomenal advantages to the corporate sector, especially the small and medium sized businesses. Some of the advantages are : Cost Reduction Direct costs for payroll processing are much higher than costs of outsourcing payrolls. No Penalties It is believed that 40% of small businesses pay penalties for late or incorrect filings. Brings Fun back into Business When payrolls are outsourced the tedious and painful chore of doing payrolls is off your head makes your business enjoyable. Attention Focused on Core Issues Management can focus on dealing with core issues of the business instead of the nitty-gritty non-core issues. Lowers Risk Potential Doing payrolls on your own can be risky, as you need to look into confusing aspects of payroll making like, update tax tables, locate forms, submit reports and make payments. This increases the risk of mistakes in the payroll. Direct Deposit You can offer your employees a convenience-direct deposit. No more bothersome trips to the bank. Walkouts Don t Matter Losing an employee who does the payroll to a new job is no longer a worry if you outsource payrolls. Experts at your Service You no longer have to keep track of the constantly changing rules, forms, etc with payroll expertise of the payroll service. Service delivery We believe in providing excellent services to the clients with 100 % accuracy, sustained our self for more then a decade now, Clients trust us as we provide integrated high quality services within the agreed timelines. Technology We use latest technology software s and also keep our clients updated with the latest technologies. Local Expertise We are into business for more then 10 years now our distributed business allows us to facilitate access for you nationally. We employ Chartered accountants, Payroll Specialist and HR specialists. We regularly meet our clients and focus on customer care.
