InsideUp Payroll Sourcing Connection
Tips on Finding and Managing Payroll Services

Reasons to Consider Payroll Services Providers (Infographic)

Sep 9, 2013

By:  InsideUp

payroll services providers

reasons to consider payroll services providers

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Business Insights on Payroll Services providers

For 49% of small businesses who use an outside payroll service, saving money was the primary motivation. Main reasons to consider payroll services providers:

  • $800.00 – the amount in 1 in 3 small businesses will incur each year as a payroll tax penalty.
  • 10% – IRS penalty assesment for that is charged for not submitting taxes electronically via EFTPS
  • 76% of overpayments are due to terminations, leave of absence and time reporting.
  • 55% of small businesses owners/managers process payrolls when kept in-house
  • 39$ per month – The starting price for outsourced payroll services
  • 69% report of favorable results when changed to an outsourced payroll solution

Did you know?
The top reasons  for using payroll services are comprehensiveness (45%), Effectiveness(17%) better workflow(14%) and greater accuracy(11%).