Payroll management is a critical part of any business. It often involves numerous steps and precautions, missing any of which leads to a significant loss for the company. Delegating payroll tasks to experts can be an effective way to sidestep many problems that might arise by doing this in-house.

Outsourcing payroll services not only helps companies streamline their salary operations but also aids in numerous other ways. In this article, we will discuss some of the significant benefits of outsourcing payroll services and why you should consider hiring such an expert for your business.

Benefits of Outsourcing Payroll Services

Whether you have 10 employees or 10,000, outsourcing payroll services can offer many advantages. Let’s quickly go through how outsourced payroll services benefit you.

Saves Expenses

Outsourced payroll services are relatively less costly than hiring an in-house team for the same job. Here, you don’t put your resources into hiring, training, and managing other employees. You can simply delegate the task to a reliable professional who will handle all your payroll needs, thus saving significant expenses for your business.

Minimises Mistakes

When making salaries for hundreds of employees at once, there is a higher chance of human error. Payroll outsourcing companies use various software to automate tasks, leading to minimised human mistakes. Reduced errors offer businesses a sigh of relief and eliminate potential threats of regulatory actions.

Faster & Timely Payments

Since outsourcing payroll service providers utilise various tools and technologies to carry out their operations, they can do their job much faster, allowing you to deliver timely payments. Timely payments help you build trust between you and your employees, thus enhancing employee satisfaction.

Focus on Other Business Aspects

One major advantage of outsourcing payroll services is that you save significant time and effort in managing payroll tasks. Since you delegate these tasks to someone else, you have more time to focus on other crucial business aspects. This allows you to spend more time on critical operations and strategising how to grow your business.

Enhances Data Security

Increasing cyber threats are making it hard for businesses to keep up with data security. Nowadays, data is the soul of any business. Outsourcing payroll service providers are experts in data protection regulations. They invest in advanced cybersecurity measures to keep your critical payment data secured from attackers.

Streamline Your Payroll Processes With Stellarwiz

Payroll is a crucial part of any business, so it should be handled with extreme care. If you’re struggling to manage your payroll tasks, Stellarwiz can help. We are a team of expert accountants who are proficient at offering comprehensive and quality payroll services.

Our experts use cutting-edge tools and technologies to offer expert outsourcing payroll services to a wide range of industry verticals. We have been a leading outsourcing payroll service provider for many businesses worldwide, delivering satisfactory services that our clients love.

Are you struggling to manage your employee salaries? We have got you. Contact us immediately and discuss your requirements. We will quickly come up with a solution that suits your budget and business needs.

Leave a Reply

Your email address will not be published. Required fields are marked *

Pinal-Jain

CMA Pinal Jain

Director

As an Associate Member of the Institute of Cost Accountants of India, Pinal brings over 5 years of dedicated professional experience in outsourced accounting to the table.  Her professional focus has been primarily on outsourced Audit and Assurance Services, Cost and Management Services, GST, Income Tax, and Company Law matters. 

 

Her expertise spans a broad spectrum, and she has actively participated in various global assignments and projects, acquiring extensive experience in these domains. Of note, she conducts a range of cost audits and takes on management consultancy assignments, catering to the unique needs of clients across diverse industries and sectors. 

 

Following the successful completion of her CMA, she embarked on a post-qualification journey under the mentorship of CA Suraj Jain, which has shaped her into a seasoned professional with a rich skill set. Her dedication to delivering high-caliber services and offering invaluable insights has solidified her reputation as a trusted expert in her industry.

Suchi-Dalwadi

CA Shuchi Dalwadi

Director

With a remarkable 13 years of professional experience, Shuchi is a Chartered Accountant and an Executive of Company Secretary. Her professional journey is a testament to her dedication and expertise with a specialization in the field of outsourced auditing and assurance, where she has honed her skills over the years, especially for the UK domain. 

 

She is well-versed in conducting thorough financial audits, bringing forth invaluable insights to her clients. Her expertise extends to encompass a profound understanding of financial reporting, risk management, and the intricacies of compliance, all underpinned by an unwavering commitment to upholding the highest professional standards.

 

Throughout her career, she has consistently delivered top-notch audit services to global clients representing a diverse array of industries. Her ability to delve into financial data, identify vulnerabilities in internal controls and provide transformative insights for enhanced financial performance sets her apart as a trusted professional in her field. One of her defining attributes is her unwavering dedication to maintaining the utmost ethical and professional standards in every facet of her professional undertakings. Her commitment to integrity ensures that clients can rely on her for sound financial guidance and assurance services.

Ashwinbhai

CMA Ashwin Dalwadi

Strategic Advisor

Ashwin combines an impressive academic background with over three decades of global experience in Cost Accountancy and General Management. An outsourcing accounting evangelist, he excels in providing outsourced consulting services for informed business decisions, including accounting and process outsourcing for Management Information Systems (MIS) and Management Consultancy. 

 

With a knack for offering diverse solutions to complex challenges, he has successfully led numerous global task forces and dynamic teams. His pivotal role involves guiding the implementation of robust Cost and Management Systems, enabling effective monitoring and decision-making. A B.Sc. graduate and FCMA (India), his association with the Institute of Cost Accountants of India (ICMAI) dates back to 1990. 

 

He is presently the President of ICMAI for 2023-24, with prior terms on the Central Council. His contributions to the institute also include past service on the Central Council from 2007-11 and chairing the inaugural Cost Accounting Standard Board of ICMAI. Beyond ICMAI, he actively engages with various institutions, including the Indian Drug Manufacturers Association (IDMA) in Gujarat, the Gujarat State Small Industries Federation (GSIF), and the Confederation of Indian Industry (CII) – Gujarat chapter, among others.

Suraj-Jain

CA Suraj Jain

Co-Founder

With a professional journey spanning more than eight years, Suraj has cultivated a wealth of experience in offering tax, audit and advisory services to a global clientele, ranging from individuals and partnerships to corporations and government entities. His comprehensive skill set and expertise are channelled into providing valuable insights and guidance to his UK, US and India-based clients, enhancing their financial and operational performance.  

 

He holds the prestigious title of Fellow Member within the esteemed Institute of Chartered Accountants of India (ICAI). His commitment to professional development is evident through his successful completion of several certificate courses. These include Forensic Accounting and Fraud Detection (FAFD), Goods & Service Tax (GST), Concurrent Audit of Banks and a Diploma in Information System Audit (DISA), all of which were conducted under the auspices of the Institute of Chartered Accountants of India (ICAI).

 

Notably, he has also achieved the qualification to serve as an Independent Director in Indian companies. By contributing in this capacity, he aspires to play a pivotal role in ensuring transparency, accountability and responsible decision-making within the corporate landscape.

Malhar-Dalwadi

CMA Malhar Dalwadi

Founder

Malhar is an Associate member of CIMA – UK, holding the CGMA (Chartered Global Management Accountant) designation, and an affiliate Member of CIPFA – UK (Chartered Institute of Public Finance and Accountants). Additionally, he also holds the distinguished title of FCMA as a Fellow member of The Institute of Cost Accountants of India (ICMAI) and boasts an MBA in Finance. He has achieved SAP FI-CO Certification, as well as certifications in GST, Information System Security Audit (DISSA), and Forensic Audit (DFA) from The Institute of Cost Accountants of India.

His expertise encompasses various aspects of cost accounting, including maintaining books of accounts, management information systems, auditing, liaising with the National Pharmaceutical Pricing Authority (NPPA), budget preparation, cost accounting system implementation and GST advisory services. With a family legacy spanning three generations in the field of Cost and Management Accounting, he brings extensive practical experience of more than a decade to the table. He is proficient in using accounting software, spreadsheet applications, and other financial tools. Familiarity with cloud-based accounting and collaboration platforms and commitment to ongoing professional development and staying current with industry trends and best practices. He has strong time management skills to meet deadlines and manage multiple projects simultaneously.

He has been associated with activities of the Institute of Cost of Accountants of India (ICMAI) since 2012. He is the youngest Chairman of the Ahmedabad Chapter of the Institute of Cost of Accountants of India (ICMAI) during the term 2021-23. He also served as Chairman of the Professional Development & Member Services Committee and Chairman of the Infrastructure Committee of the Ahmedabad Chapter of ICMAI. He is also a Member of the Professional Development Committee of Western India Regional Council of ICMAI for 2023-24.