Top 10 Reasons Why Outsourcing Payroll Is Profitable

1. Stay confident about meeting guidelines:  When you outsource payroll processing to an experienced vendor, you can be assured that your filings and regulations will meet all the provincial guidelines.

2. Be worry-free:  Outsourcing payroll administration to a vendor can help you stay worry-free as you will not have to pay penalties for remitting government source remittances after the due date. You will also not have to keep a track of due dates as your vendor will take care of this.

3. Make huge savings on operating cost: No matter the size of your organization, outsourcing payroll can be profitable. If you conduct payroll processing in-house, you will require more resources. You will also have pay for several hidden costs such as software, printing costs and check costs to name a few.

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Outsourcing Checklist

1. Before you sign a contract with your outsourcing vendor, make sure that your organization owns the source code for the final product.

2. Check with your outsourcing vendor if he will provide you with the flexibility to renegotiate the terms and pricing of the contract once it is signed.

3. Ensure that your outsourcing provider signs non-disclosure agreements, so that you can be assured of the privacy and confidentiality of your data.

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