In order to stay ahead in the race, companies across the world lay a lot of focus on their core operations, services and competencies. However, in the process of concentrating on their key operations, they often fail to give sufficient attention to their non-core departments like bookkeeping, HR and payroll.
According to recent figures released by Ernst and Young, 54 per cent of employers believe that there’s a scope of improvement in the payroll practices and policies followed in their organizations. The possibility of making improvements in the accounts and bookkeeping department, through the inclusion of better work modalities and professional expertise, also rings true.
Increased Cost-efficiency: Bookkeeping and Payroll Outsourcing Services
As per the existing trends in 2019, outsourcing services are catering to the needs of start-ups, SMEs, and large organizations in India in a big way. This, in turn, has resulted in an increase in the profitability and productivity figures of the businesses they support. The providers of payroll outsourcing services and booking services are fast eliminating the need for separate in-house departments in client organizations at cost-effective rates.
For instance, it is now possible for businesses to avail professional bookkeeping services at merely 40 per cent to 50 per cent of the cost that they would have to pay otherwise – merely by outsourcing their day-to-day, repetitive tasks to expert third-party professionals.
Growing Need for Payroll Consultants in India
There are several benefits of hiring payroll consulting services in India. For instance, it is quite cumbersome for organizations to remain updated with the changes in ESIC (Employees’ State Insurance Corporation) Act. Outsourced payroll services keep a watch on the changes in the regulations of all relevant employee acts and inform their clients accordingly. They take care of the administration of the financial records of the employees; thus, ensuring that the calculation of wages, bonuses, deductions, salaries, and net pay remains error-free and within the desired deadlines.
SBL Corp: Benefits of Outsourcing Bookkeeping and Payroll
From payroll taxes to employee benefits, wage policies, tax remittances and complicated calculations, the entire payroll process can be quite cumbersome and long drawn. At SBL Corp, our payroll consulting services are flexible and agile. By taking over the mundane, non-core activities, we enable our clients to remain focused on their core areas of expertise.
We also provide suitable alternatives to their in-house accounting and bookkeeping departments. The bookkeeping and accounting services at SBL integrate standard and modern accounting principles to manage different types of business operations.
Hire Payroll and Bookkeeping Services in India
Companies are no longer outsourcing only to cut costs. They look forward to accessing skilled expertise, flexible staffing, increased efficiency, faster turnaround time, reduced overheads, and higher profits by outsourcing their payroll and bookkeeping processes. In reality, there is a lot more to bookkeeping and payroll outsourcing than what meets the eye. Wouldn’t you like to more by getting in touch with our experts at SBL Corp?