Offer: Get Free Consultation for Payroll Outsourcing Services

December 07, 2015

Is Your Payroll Getting Difficult to Manage? Get a Free Payroll Outsourcing Services Consultation!

FinSmart is a Indian payroll outsourcing services company which offers fast, efficient, and efficient payroll outsourcing solutions to growing startups and small businesses. FinSmart currently offers first consultation of payroll outsourcing services free. This offer is valid till 31st January, 2016 in Pune & Mumbai regions. Click Grab the Offer button to claim your offer NOW!

If your company is expanding, you may need to hire more employees in your current internal payroll function. For a startup, a lot needs to be considered before actually hiring a new candidate. Are you going through a budget crunch and thinking of hiring an external agency to take care of payroll outsourcing services? or are you not satisfied with the services of your current payroll outsourcing vendor and thinking of switching to a different one? FinSmart brings you a multi-faceted, efficient and dynamic team of payroll and accounting experts committed to servicing your payroll outsourcing requirements with utmost satisfaction and minimal disruption. Get all your queries answered with a free consultation of your payroll and accounting needs from FinSmart.

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Startups Can Claim Massive Savings by Outsourcing Their Payroll Services

In every business, there are certain revenue-generating functions and certain revenue-eroding functions. As an entrepreneur, it becomes critical to ensure that these revenue-corroding functions are carefully managed so that their revenue drain can be minimized. For startups with limited liquidity, this is even more a demanding requirement.

These are functions which (theoretically) don’t contribute much to the growth, but one cannot ignore them; payroll processing is one such requirement. So when your startup grows (geographically or simply in team size or both), it will inadvertently lead to your payroll service requirements becoming even more complex. That’s where payroll outsourcing services comes into picture.

An efficient payroll outsourcing provider will so seamlessly integrate with your working culture, that after a while it starts feeling just an extended arm of your company – like having another office! Let’s now have a look at the factors to be taken into consideration while deciding a payroll outsourcing services partner.

A good outsourced payroll service provider assists you in interpreting relevant laws and keeps you updated on their changes

Due to the time, effort, and cost required to build an automated attendance tracking system, a lot of startups track employees’ time and attendance manually. The company may employ hourly staff as well. Since the number of such staff is usually less, the attendance tracking system for them stays manual – and is usually poorly monitored. Human errors & lack of strict monitoring often stack up in the end and are hard to clear.

Did you know that on an average companies spend about 10% more on their payroll services due to a poor attendance and time keeping system? If you are not careful, the number may even rise to 15-20%.

Your job is to grow and run the business. It’s quite challenging for most new entrepreneurs to study the required laws on tax and employment and their variations – and stay abreast with their changes. Good payroll outsourcing service partners provide not just the basic service, they will also be available for consultation on these laws. Great ones will hold briefing sessions with you at the time of major changes in these laws.

Payroll outsourcing services can save up to 10-15% of your operating costs

The best feature with a payroll outsourcing services partner is that the payment to the staff of the outsourcing partner is not to handled by you. You let the partner handle the upkeep of the payroll services team and various miscellaneous costs associated with such a team, while focusing on what’s important – that is, growing your business.

This model of payroll outsourcing services has tremendous potential. The partner takes care of any inaccuracies and can be held accountable in case of any discrepancies, which is difficult with an internal payroll services team. The effect of it all, is a saving of up to 10-15% in your own operating costs.

Are you still using Tally for your payroll?

The number of transistors in a dense integrated circuit, and hence the processing speed of these circuits doubles every 18 months ~ Moore’s Law

If you are still using Tally for your payroll operations, then you better read ahead!

When it comes to technology, innovation never stops! Software updates are often pushed every few months, even so there are so many such software in the market – you’ll end up at your wits end if you are thinking of evaluating each of them.

The need to capture market share and the competition among the IT firms is all the more beneficial for supporting functions. A lot of new software now focuses on UX, and even more so on mobile access of their features. Why then, shouldn’t you take advantage of this wave and get rid of the stone-age era software?

A good outsourced payroll services provider should help you with following functions:

Consultation and evaluation of existing payroll software in the market
Purchase and licensing of the selected software
Provide thorough walk-through and training, if required.

FinSmart as your payroll outsourcing services partner

At FinSmart solutions, it’s all about customer delight through excellence in service. We ensure that you are relieved from day to day worries of accounting and payroll thereby allowing you to stay focused on building your business.

Several major small businesses and startups have entrusted us with their payroll services. We integrate our services tightly and seamlessly with our clients to ensure there is no loss of knowledge, and you have complete visibility of the payroll operations.

How FinSmart approaches payroll outsourcing services

Aggregated smart services

When availing payroll outsourcing services, startups and small businesses look for a simple, no-frills solution, and that’s what we focus on! From payroll processing to payroll taxes and reports, we provide all services under one roof, so that you don’t have to run around several consultants for different functions of your payroll outsourcing services!

Doorstep services

If you are new to payroll outsourcing services and have some doubts in sending your data outside of your office premises, we also provide onsite services. Our experts can visit your premises at a mutually agreed frequency to conduct our services.

FinSmart cost plans for outsourced payroll services

FinSmart provides payment plans most conducive to startups, small businesses, and large organizations alike. Whether you are a new to payroll outsourcing services or switching from one provider to us, our plans are designed to cover all your needs.

Pay-as-you-go

This is a smart charging plan where you are charged on per-service basis. This plan is perfect for you, if you just want to try us out for a few services initially.

Pay for each month

If you are not satisfied with your existing payroll outsourcing services provider, we offer a free first consultation to help you evaluate our services. Since you have been using payroll outsourcing services for a while, this plan would be perfect for you.

Payroll Outsourcing Services Offered by FinSmart

FinSmart offers two types of services – outsourced payroll services as well as outsourced accounting / bookkeeping. Below table gives a detailed listing of services of both types.

Outsourced Accounting and Bookkeeping Services	Outsourced Payroll Services
Monthly account entries, closing, and management reports	Monthly processing of payroll and preparation of employee payslips
Bank reconciliation and statutory compliance	Computation of payroll related statutory liabilities
Calculation and payment of statutory dues	Preparation of bank transfer letter and, income tax report, and form 16 for employees