2. Reduce cost
Outsourcing payroll can assist with cutting costs. By outsourcing company can eliminate the all costs related to payroll accountant such as salary, visa expenses, air ticket, leave salary and gratuity. Also outsourcing reduces the administrative cost such as printing & stationary and equipment maintenance.
3. Reduce risk
On average, businesses are overpaying employees by about 4 percent because of serious errors and mistakes in payroll computation due to the heavy work loads of accounting staffs in their day to day operations. Outsourcing payroll can assist you reduce them.
4. Avoid delay
A business depends on its employees. Making employees happy is the key to productivity and profitability of a business. On time payments of salary is an important way to make them happy. Outsourcing payroll helps to avoid unnecessary delays in payroll computation and preparation.
5. Protect the confidentiality
Salary information is one of the most confidential data in a company. It is always required to protect that information from employees come to know of each other’s salary. Outsourcing payroll helps to protect that confidential information. Only top management will aware of employee’s salary and that salary data will transfer from top management to outsourcing company for the payroll process. Outputs again will be delivered top management from the outsourcing company. If any information has to be shared with others, then only aggregate amounts will be transferred, not the individual amounts. (E.g: Finance department will only receive the total or group wise information, not each employee’s separate information)
6. Get the expertise and comply with law
Most business owners and managers don’t have time to keep up with constantly changing rule and regulations of applicable laws which their company follows. Through outsourcing payroll you can get the expertise of payroll professionals who are well aware of the latest changes in the laws and could comply with those applicable laws.
Why Alya Almarzooqi Auditing and Chartered Accountants UAE?
At Alya UAE, we provide comprehensive Payroll Outsourcing Services at reasonable cost to ensure that your company’s payroll system moves smooth and adheres to Labour regulations, along with relieving you of the time and difficultly spent administering this non-core function.
Alya Almarzooqi Auditors also provide service Auditing,Accounting,Bookkeeping Services, VAT & TAX Consultation etc. For more details call us at : Tel: +971 4 876 9377, Mob: +971 52 975 0690, +971 52 475 4007