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THE BENEFITS OF OUTSOURCING CYPRUS PAYROLL WITH FAIRFAX

Payroll is a complex yet entirely necessary function of any business. Not only is it time-consuming when performed in-house, but if you work in a busy company where new employees are frequently onboarded, it can become extremely overwhelming to remain afloat of every payroll function.

Furthermore, when you manage payroll manually using timesheets, spreadsheets and a calculator, the entire process becomes even more time-consuming and prone to mistakes, which can lead to unnecessary fines and penalties. All in all, payroll is a lengthy and meticulous process that causes countless headaches for busy companies with many obligations.

For this reason, it’s essential that you consider outsourcing payroll.

There are countless benefits of payroll outsourcing. These include:

Expertise:

Payroll and tax legislature are becoming increasingly complex; even one minor error can result in serious implications. By outsourcing all payroll functions to the experts, your company will remain up-to-date with the latest legislative changes and auto software updates while you will also benefits from improved compliance and accuracy.

Payroll companies such as GRS’ group company, Fairfax, specialise in the complexities of payroll. With more than 15 years’ experience in the payroll and accounting industry servicing local and international clients, their team of dedicated payroll processing experts, headed by Nicoletta Demetriou, works tirelessly to deliver professional payroll services to businesses of all levels and sizes.

Efficiency:

Further to the above, when all payroll responsibilities are handled outside of your office, this gives you more time to focus on the important areas of your business, making you and your team much more productive and efficient.

Fairfax offers superior outsourcing services that are tailored to the needs of each individual client. This prestigious firm has a full team of specialists handling every payroll function, making the entire process quick, seamless and completely accurate. With Nicoletta and the team, you will benefit from a superior quality of service that’s proficient, compliant and extremely prompt.

Reliability:

When you outsource payroll there’s no need to worry about your payroll processing company calling in sick or requesting annual leave during the crucial pay period. Furthermore, confidentiality and risks such as identity theft, tampering with company files or embezzlement of funds will no longer be an issue. By outsourcing the payroll of your workforce to Fairfax , you can ensure that all payroll and reporting will always be processed with absolute confidentiality and reliability.

Technology:

One constant demand for businesses is to have the latest version of their payroll software and spreadsheets, however paying maintenance fees and constantly upgrading software is an ongoing cost. Fairfax use the latest payroll software to handle all of your needs, giving you access to the best payroll technology, without the costs. In addition, they only use the highest-quality systems for storing and protecting data, ensuring absolute safety.

Cost reducing:

An in-house payroll process is costly and requires training as well as the latest hardware, software and supplies. However, when you work with a professional payroll provider, the direct costs of payroll processing can be significantly reduced. An outsourced solution will deliver peace of mind and free up time in your company, enabling you to get back to your core area of business and in turn, reduce unnecessary overheads.

In addition to payroll outsourcing, Fairfax also offers a service of employing temporary workers under GRS, which is the only recruitment consultancy in Cyprus to possess the temporary recruiter license. The license enables Fairfax and GRS to provide temporary workers to its Cyprus-based clients, offering enhanced flexibility and convenience.

If you haven’t considered leveraging the assistance of skilled payroll experts before, maybe now is the time to make the switch. To learn more about the above-mentioned services, please contact Fairfax on +357 25558025 or email accounts@fairfaxyeaman.com