If you want to save on costs or it is important for you to protect sensitive information relating to the pay scales of your employees, then payroll outsourcing is the right step for you. Payroll outsourcing also provides a solution to the substitution of a payroll accountant when they are out of office, and saves costs on software and professional training.
One undoubtedly great advantage of payroll outsourcing is the high flexibility of the companies providing this service. Additionally they provide technical and software equipment and interconnection between various departments. Most consultation companies have their own accountants and payroll and tax department under one roof, therefore being able to provide real comfort to their clients. If you come across a tax problem while processing your payroll, the easiest thing is for your tax consultant to deal with it immediately.
Medtronic Czechia s.r.o. is a wonderful example of how good payroll and financial outsourcing can work. Ing. Hana Rieselová, Human Resources Manager: “We have gradually moved to the outsourcing of our services. We began in 2009 with the payroll agenda, which resulted in a very positive experience and saved us significant costs. We then decided to extend our co-operation by outsourcing a part of our agenda. It is easy to co-operate with this service provider as they are very positive and react to their clients needs in a fast and efficient manner.”
These days it has become very popular to have salaries and obligatory payments outsourced too. This service has been mainly used by two groups of clients. The first group of clients usually have their management and financial departments abroad, therefore it is difficult for them to administer their bank account in the Czech Republic. The second group involves clients who need to avoid revealing the salaries of their employees and managers.
When is it worth opting for payroll outsourcing?
- If you do not want to process your payroll internally in order to avoid information leaks.
- If you are a small business and you do not want to employ an accountant and you believe that having your payroll processed by a financial accountant is not the right choice because of numerous amendments in the particular legal field.
- If you are a mid-size or big business and outsourcing means cost savings for you.