With the consequences of the COVID-19 pandemic still pertinent across so many industries, business owners may find it more valuable than ever to focus on their core business – and look to outsource back-office tasks such as payroll and bookkeeping.
So what are some of the advantages to outsourcing?
Saves your business money
Outsourcing may seem expensive, but when you consider the alternative cost of spending time and money hiring and training employees, outsourcing can be the most cost-effective option irrespective of the size of your business.
A monthly fee agreed in advance also helps your budget planning, removing the risk of unwelcome surprises.
Avoiding mistakes and potential fines
If we take Payroll as an example, as your company grows, and your staff count, so does the demand of your payroll programme.
By outsourcing, you’re ensuring that your payroll will always be compliant with the latest regulatory changes, without the worry of the prospect of your in-house payroll employees being on sick leave, or leaving for a new job.
Flexibility to suit your business
Magma offer an array of outsourced business services; ideal for a fast growing business. As your company expands, so can your level of outsourcing to match your accounting needs.
A reputable advisor can guide you along your business’s journey and provide you with a flexible solution relevant to the challenges your business is facing.
As a commercially-minded owner managed business, Magma understand the challenges businesses face. Our team of advisers are experienced in helping businesses with their financial reporting, outsourcing needs, use of information and implementing processes to help their businesses succeed.
If you would like to find out more, contact our Business Services team in Rugby on 01788 539000 or in Leicester on 0116 261 0061.