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4 Top Misconceptions of a Payroll Provider

09/13/2017

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When it comes to outsourcing HR-related tasks like payroll, many companies don’t consider the numerous benefits involved. However, a payroll provider like LBMC Employment Partners can help companies of all sizes give proper time and attention to employees—answering questions, offering solutions, and providing daily guidance for the urgent needs of a business. While payroll outsourcing has become a growing practice, there are also a few common misconceptions about the advantages involved with enlisting a payroll provider. Here are four misconceptions that warrant some clarity.

  1. Outsourcing payroll is a complicated process. False. Most payroll providers have simple, user-friendly onboarding systems in place to get you easily set up and in motion. A trusted payroll provider like LBMC EP will help you prepare, collecting all information they need in advance, leading to a smooth transition to your new payroll system.
  2. Outsourcing payroll is costly. Wrong. For many companies, handling payroll in-house can be more expensive than outsourcing. With the amount of time and people it can take to handle payroll tasks, many companies have found that outsourcing payroll has been a better way to steward company resources. Professional payroll providers can also save companies from costly penalties related to tax and compliance.
  3. Outsourcing payroll is not secure. Not the case. A professional payroll provider will have taken extra precautions to defend against potential data breaches. Knowing that a high level of sensitive data is within its care, payroll providers go the extra mile to keep client information safe and secure from cyberattacks.
  4. Outsourcing payroll relinquishes control. On the contrary. While a payroll provider will take the lead with payroll processes and record-keeping, employers can benefit from viewing a payroll provider relationship as more of a partnership rather than a service. Maintaining regular communications with your payroll provider will not only provide you with peace of mind, but also will allow you access to any information or reports you need.    

LBMC EP’s team of payroll specialists are equipped and ready to make your life easier with accurate and timely payroll processing, as well as payroll tax services. Our goal is to help your business be properly positioned for success and to keep your employees paid on time and error-free. Contact us today to discuss our payroll and payroll tax solutions that can help make your business even better!

4 Top Misconceptions of a Payroll Provider