Six ways to profit from cloud payroll services

Six ways to profit from cloud payroll services

Savvy business owners know that it’s always in their best interest to diversify their services. If you’re running a outsourced payroll bureau or accounting/bookkeeping firm, or supporting clients through sole trader services, it could be high time to add another string to your bow by offering payroll. 

Traditionally, many outsourced payroll bureaus, accountants and bookkeeping firms have been reluctant to offer payroll services. Payroll has been associated with time-consuming and labour intensive processes, which have often required an additional headcount or resources. For many, the time it would take to establish a payroll arm of the business has not been worth the effort. 

But the payroll space has changed rapidly over the last few years. Supported by a technological transformation, the potential of payroll to generate profit has never been greater. 

How does profiting from cloud payroll systems work?

You can add a new service, without the effort

If you wanted to add payroll as a service ten years ago, you would have been looking at a lot of challenges. You would need additional capacities to manage the immense paperwork and new client expectations. 

This would have caused outsourced payroll bureaus and firms to significantly rework their structure and operations, and may have even called for additional resources to support change management.

With a cloud payroll system, adding payroll to your business’ portfolio of services is easier than it’s ever been. You don’t have to worry about additional filing space, extensive training or corporate restructuring. All you need to do is implement effective payroll software, and you can start generating profit straight away. 

You don’t need to add headcount to generate extra revenue

Even when businesses are full of highly-skilled staff, offering payroll used to require additional expert headcount. 

With easy-to-use cloud payroll systems, it’s not a requirement to add any additional headcount to manage this new arm of your business. Your existing internal experts will be able to easily navigate our software, making their hours more efficient and profitable. As they say, it’s about working smarter - not harder. 

Automated systems won’t add to your workload

What makes cloud payroll services so efficient and workload-friendly? It’s all about the automation and streamlining tasks that used to be repetitive and time-consuming. 

With Keypay you and your clients can run payroll effortlessly and accurately and enjoy full visibility and transparency over the process as it runs in the background of day-to-day work.

Tasks can be chosen to be automated such as downloading and applying tax codes or awards, processing any standing data and timesheets, calculations, sending out payslips, reports, payments, uploads to pensions or super more. 

What are the business opportunities of offering payroll? Let’s talk more about the benefits and opportunities of offering a payroll service. 

You can improve your client relationships

We know that clients are always looking for an easier way to run their business, and incorporating payroll into an existing service is a great way to take something off your clients plate - while you gain profits and a competitive advantage in the process. 

Your existing clients will love you, which can turn them into advocates for your service. We all know that the most powerful marketing is word of mouth!

Diversifying your services can future-proof your business

In the uncertain times that we’ve seen over the past few years, adding another revenue stream can go a long way to future-proof your business. 

Diversifying your offering has always been a helpful way to support business growth during turbulent times. It’s never been easier to add another service and reinforce your business for success. 

You can appeal to a greater range of clients

We probably don’t need us to tell you that clients expect a lot from their outsourced payroll bureaus, accountants and bookkeepers these days. Everyone is looking for a one-stop-shop. 

When you adapt to meet a growing demand, you give your business an edge - and prospective clients will take notice. Your firm or services will have greater appeal to a wider range of clients, and having the added service of payroll when others don’t could be just the thing to win over a new customer.

Why choose Keypay to help you profit from payroll?

Keypay has been delivering streamlined cloud-based payroll solutions for over 10 years. We understand the needs of payroll administrators and outsourced payroll bureau businesses, and we’re loved by many globally, with over 750 partners.

Here’s what sets us apart… 

Keypay integrates easily with your current software

When you’re setting up a new piece of software, you can lose time (and subsequently, money), when it doesn’t seamlessly fit with your current software. 

New users of Keypay won’t have this problem. KeyPay integrates with Sage, QuickBooks Online, Xero and NetSuite and more. This can further streamline your use of technology platforms and client payroll processes. By cutting out any manual processes between platforms, you can get set up with Keypay and start earning profits for your business in a flash. 

Our software is intuitive

When we say easy-to-use, we mean easy-to-use. 

Pay runs are fully automated with our efficient, all-in-one tools. Forget paperwork, manual data entry or different sources of truth. Our centralised platform means that everything is exactly where it needs to be, helping you and your clients run payroll accurately every time. 

We’re built for outsourced payroll bureaus, accountants and bookkeepers

Our experts at Keypay are passionate about building a platform to transform the work of outsourced payroll bureaus and accounting and bookkeeping firms. 

We offer bespoke pricing for accounting and outsourced payroll bureau businesses. To learn more about (and start crunching the numbers on) how KeyPay can help you generate more profit, talk to one of our team members today: AU | NZ | UK | SG | MY

Isabelle Comber

UK Content Specialist

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