Payroll Bureau vs Fully Outsourced Payroll

If you still want to keep control over your payroll in Sheffield, but need support with specific payroll processes and functions, a payroll bureau service could be best for you. This allows organisations with payroll software or an integrated HR and payroll system to manage their own data, whilst outsourcing the specialist payroll processing to a dedicated payroll bureau.

An outsourced payroll service takes care of all your payroll needs, and is ideal for organisations without specialist internal payroll knowledge or those looking to free up internal resource to focus on other strategic initiatives.

What’s the difference between a payroll bureau and a fully outsourced payroll provider?

Payroll is an important part of any business in Sheffield, after all, if you don’t pay your employees they won’t come to work. It used to be the case that many companies would keep their payroll in-house, however, it has now become common that payroll is outsourced instead. That said, many businesses simply don’t know which is the right solution.

What is Payroll Bureau?

A payroll bureau is partly in-house and partly outsourced. Rather than having the entire process run in-house, you control part of it and outsource the remainder. This means that you employ the staff, you set the hours that they work and you oversee the processes.

This means that you have control over the process, whilst some elements are handled by your provider, such as printing payslips or processing expenses.

Some outsourced providers have started referring to themselves as payroll bureaus – in some cases they offer both aspects of the payroll service, others offer a full service package that closely resembles outsourced payroll. If you are choosing between a payroll bureau in Sheffield and outsourcing, it is important to review exactly what a supplier is offering before making a decision.

What is Outsourced Payroll?

Outsourced payroll involves engaging a payroll service provider to manage your entire payroll service. Sometimes it is called fully managed payroll or full service payroll.

The supplier handles your entire payroll process from beginning to end. This is particularly helpful for businesses without an internal finance, HR or financial admin teams available, or when those teams are needed to focus on business critical activities.

Outsourced providers are experts in all aspects of payroll, including current and future regulations, keeping everything running even when the entire industry changes, for example when RTI (real time information) regulations and pensions auto-enrolment came in. This helps businesses that aren’t able to keep up to date on the minute details of payroll regulations.

The Sheffield Payroll Network is a group of outsourced payroll providers based in Sheffield. Our members are on hand to provide a comprehensive, professional and accurate payroll service for your company.

Benefits of Payroll Bureaus

If keeping control is important to your business, payroll bureaus allow you to pick and choose which functions to retain in house and which to pass over. This flexibility enables you to hand over tasks that you don’t have the in-house skills for, or those that consume the most time and effort, for example.

By choosing to hand over such tasks, you save either time or cost. You might choose to refocus your in-house staff on alternative tasks due to freeing up their time, or you might find you don’t need a full-time team anymore.

As with outsourced payroll services in Sheffield, a bureau solution also provides you with access to expertise in legislation, regulations, and compliance.

Benefits of Outsourced Payroll

Focus on your core business
Save money and increase efficiency
Access expertise and technology
Reduce risk
Ensure business continuity
Prevent fraud

There are a number of benefits of outsourcing the whole payroll process. One of the biggest is that it saves you money as a company. Whilst you will have to pay the outsourced company for the service, it can be much cheaper than employing and training payroll staff – even if you have a bureau service provider. You will likely find that the entire process is faster and more efficient, too.

Not only this, but it can free up your resources and time too, allowing you to put effort into other parts of your business. You can also benefit from the expertise of a company that understands payroll. They will have knowledge in avoiding pitfalls and will use the latest techniques and software. The chances of mistakes are minimised by using a fully outsourced payroll service.

Choosing between Payroll Bureaus and Outsourcing your Payroll

Outsourcing part of all of your payroll can be a significant decision for businesses, however the benefits can be highly significant.

You should look carefully at your current processes, procedures, costs, and needs before making a change. If costs are a consideration, outsourced payroll is likely to be the most effective option for you.

If you are concerned about legislative changes, especially if you employ staff on variable or minimum wages, an outsourced service will provide peace of mind in keeping you fully compliant with all relevant regulations.

If you want to reduce your risk levels to the lowest possible levels, having an outsourced provider is the better option. If, however, you want to maintain more control over your payroll, a bureau in Sheffield would likely be a more comfortable option for you.

Ultimately, there is no single answer that is true for every business. The best path is to speak with a number of providers to see which offer a service that works for your needs.

Whether you are looking for a fully outsourced solution or wish to outsource only a part of your payroll in Sheffield the Sheffield Payroll Network are here to help. Contact us today for a free , no obligation consultation and quote for payroll services in Sheffield.