• BFSI,  Industrial

    What Are the Functions of Payroll Services vs. Human Resources?

    Payroll and human resources (HR) are two extremely distinct functions within a company. While payroll deals with the compensation of employees, HR primarily handles employee relations. However, there are situations where the two roles overlap, and are often performed by the same person, especially in a small company. While this arrangement might look good on paper, since it involves fewer employees to pay and an integrated approach to the functioning of the company, it can cause many problems. A company owner must know the differences in their functions and terminology, but also how the two functions can work together to produce better results. Functions of Payroll Payroll refers to the process…

  • BFSI

    5 Reasons Why You Should Consider Outsourced Accounting Services

    Many business owners find that they save time, money and stress by moving from an in-house accounting department to an outsourced one. While the outsourced company takes care of your financial needs, you can stay focused on value-added, revenue-generating tasks such as business development and making strategic business decisions. Check the following five reasons why you should consider outsourcing your accounting functions. 1. Boost Compliance with the Latest Rules and Regulations Outsourcing accounting services can not only help you manage your growth, but can also ensure compliance with the latest regulations when it comes to city, state and federal laws? A specialized outsourcing company will remain up-to-date with the latest financial…

  • BFSI

    How the Shifting Payroll Market Is Impacting Business

    Today’s payroll processes require a lot more from you than simply reading an employee’s timesheet and writing a check. You must know the patient’s tax withholdings, benefits and much more before you can manage their payroll. In addition, as the compliance rules change rapidly, you have to stay on top of them while also protecting all of the information in your system. These requirements mean that most small businesses must adapt to an ever-shifting payroll environment in which they have to invest hours of time. The ripple effects throughout the business world mean that the impact runs far and wide. Consider these changes that are happening in the business industry…