SME’s could be saving almost £16,000 a year by outsourcing payroll services
Leeds-based Cheney Payroll Services has revealed that the UK’s 247,000 small and medium sized businesses can benefit from significant cost savings by engaging a specialist payroll bureau service, rather than tackling pay and remuneration in-house.
The rapidly contracting economy is compelling business owners to scrutinise every outgoing and make cost savings wherever possible. With businesses facing tough times ahead, SMEs can make huge savings by outsourcing their payroll function to specialists.
Typical Cost Savings using Cheney Payroll Services
Company Size,
by number of employees |
Cheney Payroll Bureau Service, Annual Cost inc VAT* |
Annual Saving |
50 | £2520 | £20,178 |
100 | £5040 | £17,658 |
250 | £12,600 | £10,098 |
Average all SMEs | £6,720 | £15,978 |
Based on a fixed cost of £3.50+VAT per employee per month, business owners can save valuable time and money, freeing up bosses so they can focus on getting back to business after lockdown.
Why is Payroll So Complicated?
Payroll can be fraught