Although the initial panic caused by the virus is starting to subside, for company leaders the hard part is yet to come. Considering the experiences of the last 2 months, the possibilities of the company, and the future, we need to rebuild a resilient organization that is based on a crisis-proof structure. At the moment, most of the predictions about the future foresee the second wave of the virus, therefore it will be increasingly likely to use these new structures, even in the near future. Not only the internal resources but also the supporting external partners play a significant role in the safe operation of each process. Thanks to this trend, payroll, and accounting outsourcing service models are also changing.
The base of the rebuilding is certainly a well-designed BCP (Business Continuity Plan), which covers all processes of the company and the cooperation with subcontractors.
Whether due to budget or risk management/responsibility considerations, it is a fact that more and more companies are now analyzing the possibility of bringing back currently outsourced business processes in-house.
The situation is the same with outsourced payroll / accounting processes. The main reason for insourcing a service is a potential cost-saving, but many companies consider risk management and value creation aspects as well.
However, we should bear in mind that just as designing the framework of outsourcing is time-consuming, the development of inhouse processes is not an easy exercise. It worth asking for external help who, through an experienced, consultative process approach, will be able to help to build a stable, crisis-proof structure. Moreover, having a plan B can be an important factor in case of emergency, because for example, if our 1 in-house payroll administrator suddenly drops out, it can cause serious trouble in scheduling salary payments.
How to start? – BCP audit and stand-by payroll / accounting services
Considering these needs of the market, we have developed our new service packages, which are designed to increase our clients’ sense of security. What are these services?
1. Insourcing assistance: If you have already decided that you want to inhouse payroll / accounting processing in the future, our process development specialists will be happy to help you in planning and implementing the insourcing of the payroll processes.
2. A new concept in the public consciousness is the BCP audit as a service element. In case of an emergency a good scenario is the key. This scenario should cover also financial and HR processes. Experienced professionals of BPION review current plans and processes, identify gaps, and finally share their suggestions and best practices in the form of an audit report, which can be used as an action plan. If required, we are also available to our clients in the implementation of the new processes, as well as in their regular review and development.
3. In case the inhouse processes are already working well and we also have a proper action plan for emergency situations, then the replacement of our resources is surely a part of it. BPION standby service can be a solution for this: we undertake to prepare our colleagues for an ad hoc crisis through a test payroll-run processed annually. If inhouse resources become suddenly not available for any reason, we will be there behind the organization and get the job done, even within a few days!
4. Consultancy services: Our hotline is currently available to our clients, which is specifically designed to answer the legal and tax-related questions in connection with the coronavirus crisis. However, we need quick and reliable answers not only in case of emergency. Our advisory team is constantly available to ensure full compliance with the legislation.
Accounting and payroll tasks, whether partial or complete, always function as a trusted service. We, at BPION know it, that is why we focus on the professionalism, flexibility, willingness, and helpfulness that can be provided from the human side in our collaborations.