The cost of payroll software, licences, training and staying on top of changes in taxation and legislation drove this client to consider outsourcing payroll to an Irish payroll bureau. They struggled to structure salaries in tax efficient ways for themselves and their employees. As a major UK retailer with stores across Ireland, they needed a partner in Ireland who could make their payroll easy.
Paycheck Plus offered them a bespoke solution to meet their needs. Payroll for retailers is significantly different to payroll for organisations with salaried employees. Often there are no discernible patterns of employments. Shifts and hourly payments are seasonal and based on forecasted demand and historical knowledge.
Paycheck Plus worked with this international firm to establish a secure, flexible payroll structure that could meet the demands of this ever changing payroll. Data protection and confidentiality were of primary importance and the ability to convert all payroll data from local currency to UK currency for the process of recording at the companies HQ was essential. By outsourcing to Paycheck Plus, this company was able to save significantly on software, staffing and on-going training in taxation and legal responsibilities and focus on their core business.
Profitability in the retail sector relies on the ability to manage costs as well as drive sales. Paycheck Plus developed a forecasting system using local knowledge and historical data to forecast staffing levels and costs to aid financial planning by local managers.
Talk to us today about how expertise in payroll management can contribute to the profitability of your business.