Payroll Services: The Opportunity
For firms on the fence about offering payroll services, terrific opportunity remains and is increasing. Tax and accounting firms discover rewards far outweigh the commonly perceived pain points.
Some firms are resistant to getting involved and feel somewhat forced to offer payroll out of fear that they may lose the business of an important client because they are not a one-stop shop. They see payroll as a complex business that involves long hours, high risk, and low margins. The leadership of accounting firms believes the services require a great deal of repetitive, day-in, day-out customer touchpoints. Back office operations require a very different approach than other services offered — which explains why firms differ so much in their strategy surrounding payroll services.
