Processing Payroll Internally? Have you considered these cost factors while processing payroll internally?

Ranjith Menon

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HLB HAMT - Accounting Firm in UAE
Phone:- +971 4 327 7775
Mobile:- +971 50 205 9540
Email:- dubai@hlbhamt.com

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    Employees help an organization grow. It takes immense effort from each employee to pave the way for a company’s success. The organization indeed has to treat their employees fairly for their hard work; paying them on time is one way to do it. Payroll processing has a huge place in the functioning of an organization; it is one of the most essential functions too.

    Payroll processing is a complicated and time-consuming process. There are numerous factors to consider while processing payroll. It is not just about recording the employee details; there are a lot of compliance requirement to consider while processing payroll. Organizations often feel apprehensive about outsourcing their payroll administration as they believe it is more expensive than engaging a payroll service provider to manage this activity. But they do not consider the unaccounted cost factors other than salary in maintaining a permanent employee.

    The salary of an employee is not the sole cost factor involved in hiring an employee. Organizations should also take into account the cost of desktop, stationery, furniture, and other expenses involved in maintaining an employee. When you calculate all these together, the per-employee cost is very high. Outsourcing your organizational functions is one way of reducing these costs.

    Organizations can choose to hire a professional to do their core jobs instead of hiring a professional for processes like payroll. Payroll is one of the most commonly outsourced functions today, as it does build a toll on the organization. The time involved in processing the payroll can be saved through outsourcing.

    Payroll processing involves a lot of legal formalities and the company must stay abreast of the latest compliances. If you are processing your payroll in-house, complying with these legal formalities could be strenuous. With extensive experience, a good payroll outsourcing service provider stays ahead on compliances and can handle payroll functions efficiently.

    Outsourcing payroll function offers you the benefit of advanced systems software that keeps your employees’ data secure, without any extra charge. One need not worry about the charges that will be incurred for technological and statutory updates, as these will be taken care of by your payroll provider. But, it may not be the case when you are doing the payroll process internally. In addition to the huge expense of maintaining in-house payroll, the software-related charges might even disrupt your company’s cash flow.

    The fear of breach of confidentiality and data protection are other reasons why organizations perform their payrolls in-house. This is a prominent reason why organizations must choose a reputed and certified partner to do their payrolls. ISO 9001:2008, ISO 27001: 2015, and ISAE 3402 are some of the certifications which ensure confidentiality and quality standards in payroll processing

    Considering the above factors, outsourcing your payroll function to a team of experts is a wise move. HLB HAMT is a leading payroll outsourcing company in the UAE. We ensure our clients experience a seamless process and on-time payment. HLB HAMT is an ISO 9001:2008, ISO 27001: 2015, and ISAE 3402, Type II certified firm. Having served an impressive list of small and multi-country clienteles ranging from 1- 10,000 employees, our dedicated team of payroll experts ensures maximum customer satisfaction.

    Payroll Process
    The process of payroll is a little complicated and time-consuming; hence it is always recommended to outsource your company’s payroll function. Outsourcing payroll will ensure the assistance of a team of trained payroll professionals and it frees up the time of the organization, helping them focus on other projects that add value to their business.

    One should be extra vigilant while selecting their payroll provider, as payroll data is highly sensitive, and one should opt for a provider that can ensure high levels of data security.

    As a leading payroll outsourcing company, HLB HAMT can help solve your payroll complexities through customized strategies. We take care of our clients’ entire payroll cycle that includes preparation of payroll reports, processing salary payment with WPS compliance, accrual management including Gratuity, pension funds, an online portal for accessing payslips, and many more. Our leadership team spends the necessary hours in every project, ensuring our clients get refined consulting services to take your business forward. HLB HAMT provides payroll in UAE, Bahrain, Qatar, Saudi Arabia, Kuwait and Oman.

    To know more about our payroll process, click here

    Disclaimer:
    Whilst every effort has been made to ensure the accuracy of this information, HLB HAMT will not accept any liability arising out of errors or omissions. Please note that this blog is not all-inclusive. Our guidance is designed only to give general information on the issues/topics covered. It is subjected to change and not intended to be a comprehensive summary of all laws which may be applicable to your situation, treat exhaustively the subjects covered, provide legal advice, or render a legal opinion.

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    Varun R Chandra
    Varun R Chandra
    07:38 25 Apr 21
    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
    Giuseppe Assi
    Giuseppe Assi
    06:20 31 Jan 21
    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
    Mohamed Sheriff
    Mohamed Sheriff
    16:16 28 Jun 20
    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
    218141 JOSEPH THOMAS
    218141 JOSEPH THOMAS
    16:20 23 Jun 20
    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
    PMI
    PMI
    07:14 23 Jun 20
    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
    RAVI CHOKSI
    RAVI CHOKSI
    08:28 21 Jun 20
    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
    Maharajan Subramaniam
    Maharajan Subramaniam
    18:17 06 Jun 20
    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
    Mohammed L
    Mohammed L
    08:07 05 Jun 20
    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
    ROY ROSHAN VIVIAN
    ROY ROSHAN VIVIAN
    06:32 04 Jun 20
    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
    Basil Daniells
    Basil Daniells
    05:55 03 Jun 20
    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
    Amar Kashyap
    Amar Kashyap
    19:28 02 Jun 20
    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
    Radz de Jesus
    Radz de Jesus
    16:03 02 Jun 20
    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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