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Payroll Outsourcing News

Payroll outsourcing 'may be best for smaller firms'

16 September 2011

Payroll outsourcing "may be best for smaller firms" Posted by Editorial team

Payroll outsourcing may be better for smaller organisations than attempting to keep this function in-house.

This is the opinion of Vickie Moss, associate director of marketing and business development at The Chartered Institute of Payroll Professionals, who added that both accountants and specialist firms could be hired to do this work.

However, she stressed that it is "fundamental" for those who are operating the payroll to be "experienced, qualified and - most importantly - up to date on the legislation to avoid the risk of government fines and penalties for getting it wrong".

Larger organisations may prefer to create their own payroll department rather than outsource the work, Ms Moss noted.

When this is the case, firms may need to ensure they have HR software installed, as the expert said payroll staff can be beneficial to both finance and HR operations.

Phillip Lieberman of Lieberman Software recently wrote in an article for Financial Director that companies that are farming out their IT function should make sure they communicate the decision properly with existing personnel, which may also be relevant to those thinking about payroll outsourcing.

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