Question

In this chapter, we learned that the computing and reporting of payroll are very complex processes. Some companies choose to handle these computations and the associated reporting internally while other companies prefer to outsource these payroll functions to a third party.

Answer the following questions:

1. Research a payroll processing/outsourcing firm. Report the name of the firm and describe some of the functions this firm can perform for a company. Include a link to the firm's website.
2. Based on what you've learned in this chapter and using credible Internet sources, what are the pros and cons of outsourcing a company's payroll function?
3. Do you believe it is better to outsource a company's payroll functions or perform those functions internally? Why?

Your answers should reflect your own thoughts. Do not plagiarize any website. Cite all Internet sources used.

Answer 1

Based on work burden of the companies , some companies outsource their functions . It deceases their compiling costs .

But for some companies outsourcing may be burden it is better to those companies perform functions on their own .

Pros

• reduce work load
• reduce staff
• effective utilisation of time
• increase efficiency of employees
• work efficiency

Cons

• Loss of data
• insecurity

Conclusion

Hence it is better to analyse the situations of the companies and take decisions by the management about outsource or internally perform of functions of the company .

example : cognigent perform functions of the company .