Recent studies indicate that 10 million US companies outsource their payroll, so it’s really not much of a mystery behind why payroll services exist. Payroll is one of the biggest expenses for most organizations, but it’s also fraught with complications.
There comes a time in the life cycle of most companies when they determine that they need an expert to take over those unique challenges. It’s not just about making their lives easier and more streamlined, though that’s part of it. Payroll services, like Atlantic Payroll Partners, offer a range of other essential benefits. Once you’re experienced them for yourself, you’ll probably wonder why you waited so long.
Payroll processing is time-consuming and convoluted. Even when you carefully review all the regulations, and will make mistakes. Payroll services remove the headache, take care of the compliance, and are s dedicated to delivering the 100% accurate and reliable payroll services you need. You probably won’t think of it like that though. Since you’re aware that you need help, and you’ve been looking into how payroll services work, you’ll just be relieved that the payroll services company makes your life easier.
It’s easy to miss something. You just don’t know what you don’t know. A payroll service is knowledgeable and in-the-loop on compliance issues. There’s just no way you could be tapped into that level of expertise unless you spent more time, money, and resources to dedicate yourself to the topic. At that point, you’re better off working with a knowledgeable partner who already knows compliance requirements and can help you avoid the pitfalls. They are accountable, they know the tax codes, tax tables, filing deadlines, appropriate forms, and more.
The most obvious way that you save money with payroll services is the staff time and company resources that you no longer have to invest in payroll processing. Since a Senior Executive at the company typically takes on those tasks (whether by design or because it has been piled on that person’s overflowing list of responsibilities), those costs are high. When you factor in the cost of mistakes, missed deadlines, penalties, and other fees, internal payroll processing quickly becomes cost prohibitive. (The IRS reported that 40% of businesses pay penalties due to missed deadlines and inaccurate filings.) Cost considerations are one of the main factors why companies turn to professional payroll services.
Long gone are the days when you’d lock your payroll files in your file cabinet and feel confident that your company records were secure. Cyber attacks have increased in frequency and intensity. You’re probably aware of the danger. You may even have cyber security measures in place. You just may not think it will happen to your company. With 43% of data breaches being targeted at small businesses, and a monumental 424% increase in breaches, there’s more reason than ever for you to outsource your payroll services. Payroll services are set up to protect your data, and they are able to focus more dedicated resources to that effort than you would probably think you’ve ever need to consider. Payroll services are the stable, reliable, and secure solution that you need.
Beyond offering the support you need to address even the most complicated payroll questions; a wide range of services are available:
- Monitor time sheets, PTO, etc.
- Calculate payroll taxes, deductions, and payment schedules
- Monitor and implement compliance requirements
- Offer online portal access to payroll records
- Integrate with existing apps and plans
- Manage direct deposit and other flexible payment options
With the range of flexible service options, you’re able to offer the level of care and reliability in payment processing that your employees respect and trust. It may seem like a small thing to a large corporation, but for small businesses and their employees, that paycheck is essential.
At Atlantic Payroll Partners, we know that it’s a big decision to select a payroll service. You’re aware that you need help, but it’s sometimes difficult to let go of those responsibilities and rely that we will put as much of our focus and attention on taking care of the needs of your employees as you do. We look forward to proving our dedication to you. We’ll show you what sets us apart, and why you’re important to us. The process of transitioning payroll services is not an easy one. We look forward to consulting with you about how it works. As well as starting discussions about how we can help you be even more successful in the days to come.