Comprehensive guide to outsourcing payroll services
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There is no single expert or guru in this ever-evolving and growing business industry with all the answers. While Outsource Accelerator is an aggregator marketplace for outsourcing, we continue to learn something new about the business and outsourcing industry every day.
Regardless of your company’s size, sector, or specialization, employee welfare and livelihood must always be among your top priorities.
No long-term success and sustainability will come to any business that does not pay its employees on time, equitably, and within the standards of the law.
The payroll system comprises everything—from keeping track of employee hours to calculating wages, withholding taxes and other deductions, to paying the government applicable employment taxes.
Up-and-coming small-to-medium enterprises (SMEs) proved to be interesting cases concerning problems in distributing income the conventional way.
How should these businesses address their payroll needs without big corporations’ resources, office space, and inter-department protocols? All without requiring additional staff, piling up on red tape, or putting their numbers in the red?
Among the most compelling financial solutions is the idea of outsourcing payroll services. Business process outsourcing (BPO) companies made payroll procedures for SMEs their bread and butter.
Filipino BPOs, in particular, employ young bright minds from the nation’s expanding pool of financially literate, technologically-adept professionals.
The good news that this spells out for SMEs looking to go global is that talented and trustworthy personnel offer their specialized services for a great value. They can match up to international standard delivery.
We set out to make outsourcing payroll services easy for you. In that same spirit, we put together this guide to reinforce the best practices in payroll services outsourcing and turn them into actionable steps.
This guide is divided into six parts. You can jump ahead to each section using the links below: