Outsourcing

Benefits of Outsourcing

Vikesh Sharma Vikesh Sharma Apr 25, 2019 2089 0

Outsourcing

Benefits of Outsourcing

Greater focus on your business: Outsourcing administrative processes gives you more time to focus on what your business does best – that means improved productivity. It also translates into more time and resources for strategic planning and

Helps you avoid ‘taxing’ headaches

According to the ADP Price of Payroll study, 11 per cent of small business owners who process their own payroll admitted they have received a penalty for late payment remittances. Outsource providers are experts in calculating payroll and ensure that employment tax reports and end-of-year paperwork are submitted accurately and on time.

Assumes compliance risks

Unless someone at your business keeps up to date with changing legislation and best practices, you could be at risk for costly compliance failures. As experts with complex legislation like the Personal Information and Protection of Electronic Data Act (PIPEDA) and the US Sarbanes-Oxley Act, business administrative services providers help you stay current and compliant.

Someone to turn to for expertise It can be lonely at the top, and many small business owners have few places to turn when they need advice. In addition to handling processes on your behalf, an outsourcing partner gives you readily available experts who can leverage best practices, produce time savings and minimize the use of costly external resources.