TOP 3 REASONS TO BRING PAYROLL IN-HOUSE

#1 – REDUCE COST

The true cost behind outsourcing is often difficult to predict. Over time, a company will be faced with numerous costs such as tax filing and printing of checks, fees for every report needed and price increases solely at the discretion of the outsourcing provider. By bringing payroll in-house, many companies will see a return on their investment in as little as one year, as the purchase price of an in-house system is often equivalent to the company.s fee for only one year of outsourcing.

“By bringing payroll in-house, our cost savings with Optimum versus outsourcing will be at least 50% over the next three years,” said Keith Wyatt, Executive VP, Jasper Rubber Products.

#2 – GAIN CONTROL

An issue that can arise with outsourcing is the loss of control over the payroll process. Service providers mandate that you meet their deadline and work on their schedule, not yours. If there is a problem with submitted payroll information, the company must alert the outsourcer of the error and wait for them to correct it . potentially delaying your payroll.

“Since the implementation of these products, we have improved productivity, reduced errors, and eliminated downtime,” said Trish Grant, Senior Analyst, TUTCO INC.

Utilizing Optimum.s software, all of the information required to manage your employees is maintained within the system. Thus, all of the control remains in your organization to process payroll, run a report or access any employee information in real-time.

#3 – SIMPLIFY

With Optimum Solutions, there is no need for your staff to become tax experts as Optimum keeps the system compliant with the necessary taxing authorities. The full-featured in-house application will maintain and update federal and state tax tables and calculates the necessary taxes, thereby automating the tasks of tax filing. In fact, with Optimum Payroll the process is simplified .electronic tax filing is available at the click of a button.

“We use the provided tax summary reports to summarize the required tax payments which we process through EFTPS, which takes less than 15 minutes each payroll for all companies combined,. said Kris Benson, HR-Administrator, Reid Supply Company.