In recent years, the uptake in accountancy firms in the UK turning to outsourcing their payroll services to third-party providers has risen by approximately 73%. This trend has become increasingly popular for a variety of reasons, including cost-effectiveness, scalability, and expertise.
Outsourcing payroll services means that a company utilises the expertise of an external provider like Qualitas to handle its payroll processing, as well as additional tasks such as calculating employee salaries, managing deductions, and handling annual leave calculations and entitlement. By outsourcing these tasks, accountancy firms can reduce the amount of time and resources required to manage payroll in-house, while also benefiting from the expertise of dedicated payroll professionals.
One of the key benefits accountancy firms see in outsourcing payroll is cost-effectiveness. By outsourcing, accountancy firms can reduce the cost of hiring and training in-house payroll staff, eradicate the concerns over absences and annual leave cover, as well as the cost of maintaining the payroll software and infrastructure itself. In addition, outsourcing can provide a more predictable cost structure, with fixed fees for services rather than variable costs associated with in-house payroll. We offer all accountancy firm clients a fully bespoke package built around their specific needs and requirements, with two key options: a partnered payroll service and a white-label payroll service.
Another key advantage of outsourcing payroll services is scalability. As accountancy firms grow and their payroll needs become more complex, outsourcing allows them to easily expand their payroll processing capacity without the need for additional staffing or infrastructure. For those firms who don’t already offer a payroll service, an outsourced partner like Qualitas provides a platform to expand the customer offering and diversify into other markets, without the upfront time and cost commitment of hiring internal teams to manage it. This is also particularly important for smaller accountancy firms, which may not have the resources to build and maintain a dedicated payroll department in-house.
Working with an outsourced payroll provider can also bring a range of expertise to accountancy firms. Qualitas has a dedicated teams of professionals who are up-to-date with the latest changes in payroll legislation and best practices, ensuring that accountancy firms can stay compliant with legal requirements and provide their clients with accurate and reliable payroll services.
As we approach the end of the current tax year, there’s no better time than the present to review processes and create a more efficient and profitable client offering.
For a free, no obligation quote – get in touch with our specialist payroll team today.