Did you know we also do payroll?

What are the potential benefits of reviewing how your business uses its payroll function?

Fully outsourcing payroll is the most common conclusion for many businesses but a careful review of other alternatives may well come up with a better solution for your business. Consider the other end of the spectrum to fully outsourcing ‘running your payroll in-house’, many businesses will be in this position and it could have worked well for you. 

There are risks for companies with in-house payroll such as disaster recovery, confidentiality and often with running payroll in-house there is the risk of a single point of failure. That said, if you have an individual or a team in place with payroll knowledge you may feel very uncomfortable with the possibility of making them redundant. That does not have to be the case and there are other options. Having someone else assist with your payroll processing does not mean having to go all the way to fully outsourcing. 

Businesses should consider the strengths and weaknesses with their current payroll set up:

• Where are the pressure points? 
• What are the peaks and troughs? 
• What catches you out
• Where else might your staff be better utilised? 
• How do you link to employee records and HR? 
• How do you liaise with other departments and outside bodies such as the HMRC? 

If you can come up with a shopping list of areas that you want to improve then this will go a long way to helping you make an informed decision about your next steps. If you should decide to change the way you run your payroll, you can then be very specific about what you want. 

Suppliers like Moorepay have the flexibility to help in a variety of different ways and fit in with you, rather than the other way around.