Guides on Human Capital Management

The Benefits of In-House Payroll Processing

Here you'll find a variety of guides, whitepapers, and eBooks that cover a wide range of topics on HRIS, Canadian Payroll, People Management, and more.

Issue link: https://grow.avanti.ca/i/1407215

Contents of this Issue

Navigation

Page 3 of 4

T H E B E N E F I T S O F I N - H O U S E PAY R O L L P R O C E S S I N G 4 I Visible Costs, Hidden Costs, and Other Nuisances Beyond timing obstacles, outsourcing your payroll ultimately means extra charges too. Depending on your provider, you might have to deal with anything from year-end processing and late submission fees – with high flat rates – to fees for off-cycle pay runs, terminations, and ROEs. Many payroll providers charge per employee. If you're outsourcing payroll for your mid-size organization, you're likely paying a hefty amount in extra fees. And if you're being charged per payroll run – weekly or biweekly payrolls add up fast, affecting your bottom line. See what your extra Payroll charges are with our In-House Payroll Savings Calculator With an in-house system, making necessary adjustments is free and easy to do. With outsourced providers, fixing mistakes, can cost between $500-$2500. Internal payroll and finance teams already do the majority of calculations and reconciliations, so it doesn't make sense to pay extravagant fees for work that can be executed in-house with considerably greater speed and efficiency. Flexibility & Compatibility: Who's the Boss of Your Payroll? If your payroll process is complex, you deserve more than a one-size-fits-all outsourced solution. When you go in-house, you're choosing flexibility and control over your complex requirements. By taking the wheel, you can process what you want, when you want, and how you want, without the extra costs. Run payroll and T4s at your convenience, reconcile your remittances at zero cost, and make compensation adjustments as you go. Stop letting your payroll system manage you – manage your payroll instead. For a deeper dive into the pros and cons of In-House Vs. Outsourced Payroll, check out Avanti Office Hours for an in-depth discussion with Avanti Payroll experts Somi and Alex. TheProsandConsof In-House vs Outsourced Payroll Processing F E AT U R I N G : WATCH THE VIDEO You'relikelypaying between$500–$2500 towardsfixingmistakes using an outsourced payroll provider .

Articles in this issue

Links on this page

view archives of Guides on Human Capital Management - The Benefits of In-House Payroll Processing