Payroll outsourcing services

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Payroll outsourcing services

  1. 1. Payroll Outsourcing Industry Supriya Sarkar
  2. 2. Table of Content • Payroll Outsourcing Services Overview • Major Trends in Payroll Outsourcing Industry • Pricing Mechanism in Payroll Outsourcing Industry
  3. 3. Payroll Outsourcing Market Global Payroll Outsourcing Market (2011): Market Overview $ 13 Billion• Global Payroll Outsourcing Market was estimated to $13 bn in 2011 with a 8.5% 8.5% 13.5 increase from 2010 13 – Increased demand for multi-country payroll across 12.5 all regions 13 12 – With payroll companies can reduce their cost up to 12 11.5 85% – Multi-country platform is managed by a single 11 vendor to obtain global visibility of cost and 2010 2011 aggregated reporting of data Global Payroll Outsourcing Market (2011): – Payroll outsourcing ensure compliance and $ 13 Billion (By Segment) manage risk due to continual changes in tax laws Multi- National Major Players 10% Mid ADP Paychex Market 50% Celergo Ceridian Employer Services National 40% ACS Hewitt Associates
  4. 4. Payroll Outsourcing Services OverviewFunctions BPO Services Activities and Automation Opportunities Automate payroll practices including maintaining your payroll cycles, local tax data, Payroll Administration period-end processing, and payroll production.Pre-Payroll Processing Enable your ability to track and report employee attendance data and fully integrate Time & Labor Management into the payroll system, saving you time and money. Payroll Processing Services Provide automated paperless processing of regularly scheduled payrolls, as well as off-cycle, manual check processing when required.Payroll Processing HR Advisory Services Leverage best practices in HCM with workshops designed to transform your HCM practices from experts who know how to leverage technology. Tax Filing Services Ensure complete tax compliance and relieve difficulties of maintaining current tax tables. TITAN GS will prepare and file federal, state, and local taxes to requiredPost Payroll Processing agencies, establish new tax jurisdictions, and distribute W-2s, W-2Cs, & 1099-Rs. Payroll Compliance Services Ensure complete compliance with services including new-hire reporting and full- service wage garnishment. Payroll Outsourcing Services Overview• Payroll tax returns 940s and 941s• Payroll reports Reporting and filing W2 and W4• Check processing and delivery Employee insurance deductions• Quarterly and annual tax reports Direct deposit payments with "paperless" payroll options• Time and attendance system
  5. 5. Table of Content • Payroll Outsourcing Services Overview • Major Trends in Payroll Outsourcing Industry • Pricing Mechanism in Payroll Outsourcing Industry
  6. 6. Key Trends : Payroll Outsourcing Services Payroll Getting accurate payslips on time is a driver to payroll Outsourcing outsourcing Services • Payroll outsourcing is supported by the local authorities as it was risk reduction. On-time delivery of accurate payslips proved to be a critical contribution to business continuity Outsourcing brings flexibility for international expansion • Payroll outsourcing flexibility to multinational companies for international expansion without having to deal with the complexity and subtleties of diverse national regulations Payroll is the central component in 94% of HR multi-country BPO deals • Multi-country payroll outsourcing delivered by a single service supplier has now become a reality and is a key component in almost every multinational HR BPO deal.
  7. 7. Key Trends : Payroll Outsourcing Services Payroll Outsourcing Deliver consistent levels of service in different countries Services • Multi-country payroll outsourcing enables international companies to deliver consistent levels of service across countries, brings significant savings, facilitates compliance with various regulations and geographical expansion The relevancy of outsourcing for mid-sized companies • Factors such as enterprise culture and organization size also influence the adoption of payroll outsourcing Outsourcing be a way to turn fixed payroll costs into variable costs • More and more companies consider it a non-core function that could be outsourced more flexibly and easier to adjust
  8. 8. Drivers/Barrier to entry for Payroll Outsourcing Services Drivers: Payroll Outsourcing • Save more than 30% through direct and indirect costs Services • Find more time and resources to focus on your core business • Your employees will be paid on time, all of the time, by fully qualified payroll professionals • With full visibility of your payroll costs you can plan, budget and control more effectively • Full disaster recovery site and business continuity plans in place so you have peace of mind that your confidential payroll data is in safe hands Challenges: Payroll Outsourcing • It involve spiralling costs and patchy service quality Services • It may become difficult to access important employee data in outsourced payroll information systems • if payroll mistakes occur, the ability to quickly rectify the situation may be compromised
  9. 9. Table of Content • Payroll Outsourcing Services Overview • Major Trends in Payroll Outsourcing Industry • Pricing Mechanism in Payroll Outsourcing Industry
  10. 10. Pricing Mechanism in Payroll Outsourcing Industry PayrollOutsourcing Cost-based pricing Model • This is the most common method used in accounting firms today, but is rarely used in other industries Market-based pricing • Many find this is the most common and most realistic method of pricing for small- and medium-sized businesses. Value-based pricing • This strategy is based on the premise that pricing is an art, not a science. Value is in the eye of the beholder—the client

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