Payroll Information

PAYROLL OUTSOURCING
MAY ANN GIBAN

WHAT IS PAYROLL OUTSOURCING???

Payroll outsourcing would often refer to the process of purchasing the payroll of the company, by a company of labor or parts from a source outside the company's staff or plant. These includes the names of the employees as well as the total amount of salary or wages to be paid to them at a given time.

TO WHOM TO OUTSOURCE YOUR PAYROLLS WITH???

In every company, they do have the option of whether to outsource their payroll functions to an outsourcing service just like a payroll bureau or to a fully managed payroll service.

Payroll Outsourcing would normally reduce the costs involved in having payroll trained employees in-house as well as the costs of systems and software needed to process a payroll.

WHY OUTSOURCE OUR PAYROLLS???

Main reason why is it a lot of businesses outsource their payrolls,l is because of the ever increasingly complexity of payroll legislation. Annual changes in tax code, PAYE and National Insurance bands as well as a more statutory payments and deducions having to go through the payroll often mean there is a lot to keep abreast of in order to maintain compliance with the current legistation.

BENEFITS OF OUTSOURCING PAYROLLS:

Avoid IRS Penalties
Reduce Costs
Alleviate Pain
Offer Direct Deposit
Free Up Free Time
Avoid Technology Headaches
Leverage Outside Payroll Expertise
Avoid Payroll Knowledge Walking Out The Door

Philippines BPO = Voice Services at Your Door Step

2010 will be an exciting year with companies not only looking to cut costs but also looking at new revenue channels. The impetus will not only be generating top line revenue but generating that revenue at a low cost point. This creates opportunities for BPO and Offshore Front End companies. A country ripe for growth is the Philippines where increasing partnerships with the US, UK and India in areas such as Telemarketing or Customer Service can really see tremendous growth.

One such example is Texas based Hit Rate Solutions partnering with Bacolod, Philippines based Next Level IT Teleservices to not only create cost synergies but to grow their respective sales channels. Press Release.

These types of partnerships going forward should create greater opportunities for the Philippines especially when there are so many questions regarding the shakiness of the Philippines manufacturing sector.

Here are links to their corporate websites:

http://www.hitratesolutions.com

http://www.nextlevelitservices.com/