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In-sourcing and Out-sourcing
Is the payroll function best performed within a company, or is outsourcing a better approach to payroll processing?
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It depends. Outsourcing will mean someone will make a profit out of you so there is a cost, and you will need to monitor service levels and ensure they deliver. On the plus side it may save internal admin issues and avoid incurring high IT costs of maintaining/developing new payroll systems. There are lots more factors and different companies have different experiences.