Processing payroll can be a costly and cumbersome process. Many organizations continue to print and mail these to employees. In these situations, costs are going up, not down. Many businesses are getting out of this business because they aren’t experts at it, but transactional printers are. So, what benefits can you realize by outsourcing payroll print and mail?
The first and likely most important benefit is reducing costs. If you’re running your payroll print and mail, then your fixed and variable expenses will continue to rise. Even if you’re producing a lower volume, that doesn’t reduce your costs.
There are several reasons. First, the equipment, space, and other fixed costs won’t decrease because you use it less. Second, material costs could go up on the per-piece rate because you need to order fewer supplies. Third, the labor to run the operation isn’t going down either.
Finally, you likely won’t pay less for postage on a per-piece basis either.
It’s just not economically viable to continue to do this in-house. The price you’ll pay with outsourcing print and mail will be much less than what’s in your budget now. You’ll have no capital costs; it will all be an operating expense.
The money savings from outsourcing are evident from the start, especially when partnering with a company with cost efficiency ingrained in all they do. Take what you save and reinvest it into your employees, infrastructure, or R&D.
Enjoy the Best in Print Security
Checking printing is a very secure process. There are multiple things that need to be in place to ensure security. Do you have all these now? Are you constantly updating practices to be as secure as possible?
If this isn’t a core competency, then you may still be using less secure methods. A transactional printer will have all the latest and greatest technology for both printing and data security. If this isn’t something you can maintain, you could be at risk, making outsourcing a great decision.
Along with security is compliance. You must meet Federal Information Security Management Act (FISMA) regulations. While you likely have compliance professionals, they may be responsible for various compliance requirements, so there’s no dedicated resource.
Outsourcing payroll print and mail through a certified organization removes any uncertainty. Such a group will have a full-time compliance manager whose only job is to ensure that every check and its mailing meets regulations.
Be Confident About Accuracy
Have the wrong checks ever ended up in the wrong envelope? And do you ever receive complaints from employees that checks never arrive? In either situation, there is risk and concern.
Unless you use advanced technology regarding insertion, which uses sensors and cameras, it’s hard to have the utmost confidence in accuracy. Transactional printers invested in this equipment and can track each mail piece through the entire process, accessible to you online.
With these features in place, accuracy becomes much greater than your current system.
Get Space Back
Print and mail operations require a lot of space. The equipment is massive. If you own the space where these assets live, is it really the best use of it? What else could you convert that space to if you start outsourcing?
You might need it for storage, people, or any other need. If you can use this space better, it might solve some other internal challenges you have.
Many Compelling Reasons to Outsource Payroll Print and Mail
Save time, improve accuracy, stay compliant, bolster security, and make better use of your space—all great reasons to say yes to outsourcing. If your company is ready to move this piece off your plate, talk to the experts at PCI Group. We’re industry leaders in the area and can deliver real results for your business.