Nobody likes unnecessary business administration, especially when there is no benefit to you or your organisation. The payment of additional resource is an area within business where you have to invest a lot of time and effort for very minimal reward, and furthermore getting it wrong can have severe implications. This is why so many organisations are opting to contract with third party payment services to manage these services for them. The five main benefits to you outsourcing your additional resource payments include:
- Cost: This is a fairly obvious benefit. The cost of time, resource and investment (in technology) associated with setting up payroll services can be large and unprofitable, especially if it is only for a short-term contract. Contracting a payment specialist to do this for you can prevent this large investment, and ensure you only pay for what you need and when you need it.
- Productivity: If you already have a finance team working as part of your organisation you will not want to disrupt their workflow with peaks and troughs of short-term workers. You can focus their time and effort on the important tasks and ensure the additional workers are dealt with externally as and when required.
- Compliance: The payment of workers is a heavily regulated industry, especially when dealing with self-employed workers. Therefore, using an external payment provider ensures that you have experts dealing with your payroll matters and eliminates any potential compliance issues.
- Precision: External payment providers specialise in the payment of workers, therefore they have the latest technology and IT infrastructure, they are up-to-date with the latest legislation and they are highly skilled and knowledgeable. Using a payment provider ensures precision in worker payments, resulting in your workers always being paid correctly and on time.
- No Admin: The process of using an external payment provider is designed to eliminate all your payment admin, so as a client you have nothing to worry about. The administration, stress and paper work associated with worker payment is removed from you as the client and dealt with by them.
How can we Help?
Bishopsgate are specialists in providing expert payment solutions to both clients/agencies or contractors. Our in-house team of experts are on hand to manage your payment solutions to ensure your outsourcing experience is an enjoyable and beneficial one.
Whether you are an agency looking to outsource the payment of additional resource, or a contractor, looking for a hassle-free service to manage your payments and tax affairs, then Bishopsgate can help
To find out more on how Bishopsgate can take the hassle out of your outsourcing administration then contact one of our experts today through:
Calling: 0203 019 4990