Business have significant challenges to overcome as the global economic situation continues to limit liquidity in the South African market. In an ideal world, businesses would be committing manpower to developing their organisations, by streamlining internal operations and focusing on growth.
Running a successful business today requires more than just a great idea and hard work. It means having the correct systems in place to ensure sustainability from a business as well as a legal point of view.
Being compliant with new tax and employment law is becoming increasingly difficult and time consuming, as legislation constantly changes and the acts governing payroll become more complex. Instead of HR persistently sending staff on courses to update them on the latest laws and software, many companies are now looking to the booming payroll outsourcing industry.
Purchasing and implementing payroll and accounting software represents a massive investment of money as well as time spent on training, especially in a small business. Having the optimum system in place could mean the difference between success and failure, so it is important to get it right the first time.