Everyone loves an unsuspecting business goldmine, and if you run a bookkeeping business, accounting firm or bureau – you could have one sitting right under your nose. Outsourced payroll. 

Many firms have neglected to recognise payroll as a great revenue generator, thinking that setting up a payroll practice will create mountains of administrative work which could require additional headcount.

As experts in payroll outsourcing, we’re here to not only show you how simple setting up a practice can be, but also how easily you can grow it into a successful arm of your business.

To help you stand out in this competitive market, read our article on How to Compete in the Growing Payroll Services Market.

What is payroll outsourcing?

Payroll outsourcing is a service used by businesses when they do not wish to process payroll for their employees internally.

There are several reasons why a business may choose to do this; they may not feel as if they have the appropriate resources to complete payroll in-house, they may wish to allocate their administrative headcount to other areas of their business, or they do not have the knowledge on their team to complete the task.

Payroll outsourcing is a popular option for businesses, especially ones that are still emerging or who may have complex needs.

Payroll is outsourced to savvy accountants, bookkeepers and bureaux who have had the foresight to set up a payroll practice. Using an advanced payroll software like Employment Hero Payroll makes setting up a practice easier and more efficient than ever.

Why consider setting up an outsourced payroll practice?

There are several reasons why business services professionals and firms should consider setting up an outsourced payroll practice.

But you don’t need to just take our word for it. We’ve spoken to real businesses who have seen amazing success by establishing a payroll practice with the help of Employment Hero Payroll.

You can Partner with an Employment Hero by becoming a Referral Partner and referring your clients. Selected partners may also be invited to become a Certified Partner and resell our Employment Operation System.

Additional profits

Whether you’re opening a new payroll practice or making your current payroll practice more advanced, a fantastic and efficient additional service offering often leads to a huge benefit – additional profits.

Many of our clients have seen amazing profit growth by establishing a payroll practice with Employment Hero Payroll. Our UK-based client Coates Business Services Ltd saw a quarter uptake in growth of their client base, directly attributed to Employment Hero Payroll.

“We have had some natural growth, but as a direct result of being with Employment Hero Payroll, it’s helped to grow our client base by 25%,” says Owner and Director Matthew Coates.

Diversifying your offering

Every smart business owner knows that offering a variety of services creates better profit potential and increased business security.

This security can not only help you persevere through slower periods, but can give you a better footing for expansion. “We provide many additional services that fall outside the basic payroll processing scope,” says Melanie Gaensler, Payroll Operations Manager for activpayroll in Australia.

“These value-add services are really growing for us and expanding our scope for what we include in our services using Employment Hero Payroll.”

As Employment Hero Payroll is also operational in global markets (our expert tools are available in Australia, New Zealand, Singapore, Malaysia and the UK) your payroll practice doesn’t need to be confined to your local area.

EPG HR and Payroll was able to take their services global with the help of Employment Hero Payroll. “With Employment Hero Payroll’s ever changing, wide ranging capabilities, we’ve been able to push into other markets, and support our clients with their international expansion,” says ANZ Chief Operations Officer Daniel James.

“From our point of view, it lines up perfectly. Wherever Employment Hero Payroll goes, we’ll look to go as well. That’s how critical and instrumental Employment Hero Payroll’s been in our service delivery into those global markets.”

To showcase your new payroll services effectively, explore our Top Tips to Showcasing Your Outsourced Payroll Service Offering.

Your clients will love you for it

If you don’t currently have a payroll practice, your clients are having to look elsewhere for their payroll outsourcing services. This can make life more complicated for clients, as they have different business services sitting with different providers.

Imagine then, how happy your clients will be when they realise that they can bring all of their business services under one provider. They’ve suddenly reduced their admin and dropped the need to communicate with several providers at once, making their lives much easier.

Alltech Outsourced Solutions found that Employment Hero Payroll helped improve their customer relationships and, even better, helped their customer retention.

“Once you show clients how to do something in Employment Hero Payroll which might be different from the format they’re used to, they can see how easy it is, and they’re onboard and stay with us,” says Stephen Scullion, Alltech Payroll Director.

“What Employment Hero Payroll has given us is a stronger relationship with our clients; I firmly believe that.”

It’s never been easier to process payroll

All of these benefits wouldn’t be half as enticing if you had to wade through a mountain of work to unlock them.

We want to bust the myth that a payroll practice is time-consuming to set up and run. With smart cloud payroll software like Employment Hero Payroll, there’s no need for laborious manual processes and spreadsheets. Our automated tools make payroll easy and efficient.

“Employment Hero Payroll has saved a phenomenal amount of workload for us with automated payroll and approvals,” says Matthew Coates.“A payroll that should have taken 15 minutes which might be a standard payroll could have ended up taking over an hour on previous systems. Now it takes no time.”

To further improve efficiency in your practice, read our strategies on Improving Efficiency for Your Outsourced Payroll Services Firm.

Still curious about why cloud payroll is the way forward? Learn how you can profit from cloud payroll services and grow your business sustainably.

Find out more about becoming a Referral Partner or Certified Partner today.

Are you ready to partner with Employment Hero

Find out more about becoming a Referral Partner or Certified Partner today.