7 Best Payroll Outsourcing Companies to Watch in 2024

Accurate, on-time payroll is essential for building trust with your team and maintaining compliance with tax regulations. When done right, it allows everyone to focus on their work without worrying about getting paid. That’s why many companies choose to outsource payroll services, ensuring efficiency and compliance with complex laws, especially when expanding into new markets like Latin America.

With so many providers claiming to offer reliability and affordability, finding the right one can be overwhelming. To help, we’ve highlighted the top 7 payroll outsourcing companies for 2024 that can support your business as you grow your LatAm team.

What Is Payroll Outsourcing?

When you hire a payroll outsourcing company, you’re letting experts handle payroll tasks like calculating salaries, managing tax withholdings, and ensuring employees are paid on time. Think of it as taking a time-consuming and complex task off your plate. 

This is particularly useful if you’re expanding into a new region, like Latin America, where labor laws and tax regulations might differ from what you’re used to.

• A payroll outsourcing company can take care of the following:
• Managing employee salaries and deductions.
• Ensuring compliance with local tax laws.
• Providing accurate and timely payroll reports.
• Handling benefits and other compensation issues.

The best part? It frees up your internal team to focus on more strategic tasks that drive business growth.

Why Choose Outsourced Payroll Services?

When companies are small, managing payroll in-house might seem easy. But as your business grows, particularly when you’re expanding into regions like Latin America, managing payroll becomes more complex. Here are some of the top reasons why businesses turn to outsourced payroll services:

1. Save Time

Running payroll can take hours, if not days, depending on the size of your team and the complexity of the laws in each region. By outsourcing, you free up your team’s time, allowing them to focus on core operations.

2. Save Money

Surprised? It’s true. Keeping payroll in-house requires paying salaries for your payroll team, buying specialized software, and covering the costs of training to stay updated on payroll laws. An outsourced payroll service can be more cost-effective in the long run—especially when you factor in the potential penalties of getting it wrong.

3. Avoid Costly Payroll Errors

Payroll mistakes aren’t just annoying—they can be expensive. From overpaying employees to filing incorrect taxes, the risk of errors grows as your business does. Outsourced payroll services help mitigate these risks, ensuring payroll is done right the first time.

Top 7 Payroll Outsourcing Companies for 2024

If you’re ready to outsource, you might be wondering, “Which company is right for me?” Below are seven of the best payroll outsourcing companies for businesses hiring in Latin America. Whether you’re looking for a full-service solution or a partner who can handle payroll and HR, these companies have you covered:

1. Lupa

At Lupa, we specialize in helping U.S. companies hire top talent from Latin America, including payroll experts. While we don’t offer traditional outsourced payroll services, we connect you with highly skilled payroll specialists who can seamlessly integrate into your team, ensuring payroll is managed effectively and in compliance with LatAm regulations.

2. Ontop

Ontop is a leading global payroll platform designed to manage payments for remote workers and freelancers. With a focus on simplifying payroll for companies operating across borders, Ontop ensures compliance with local laws, handles tax filings, and streamlines the payroll process for LatAm and global teams.

3. Deel

Deel is renowned for its full-suite HR and payroll solutions, making it easy for companies to hire, pay, and manage international teams. Their platform helps you onboard employees, manage payroll, and ensure compliance in over 150 countries, including many in Latin America.

4. Oyster

Oyster specializes in managing global payroll and employment services. They simplify the process of paying international employees and contractors, ensuring compliance with local tax laws. With Oyster, companies can effortlessly manage payroll for LatAm hires, making it a perfect solution for expanding U.S. businesses.

5. ADP

ADP is a major player in the payroll and human capital management space. Known for its global reach and expertise, ADP offers a comprehensive suite of services, including payroll processing, tax management, and compliance. ADP is a great fit for U.S. businesses with large, multinational teams.

6. Gusto

Gusto is a cloud-based payroll platform that’s easy to use and ideal for small to medium-sized businesses. With a focus on automating payroll, tax filings, and benefits administration, Gusto is a user-friendly option for companies looking to expand into LatAm while keeping things simple and efficient.

7. Paychex

Paychex is another excellent payroll outsourcing company that provides services like payroll management, tax filing, benefits administration, and HR services. With scalable solutions, Paychex is a good fit for businesses of all sizes, particularly those with growing international teams.

What to Look for in a Payroll Outsourcing Company

Choosing the right payroll outsourcing company can make all the difference for your business. Here are a few things to keep in mind when selecting an outsourced payroll service:

• Reputation: Make sure the company you choose has a strong track record of success and positive client feedback.
• Technology: A good payroll provider should use modern, secure payroll software that makes managing your team’s pay easy.
• Compliance Knowledge: Especially when hiring in LatAm, you need a payroll partner who understands local tax and labor laws.
• Customer Support: Look for a company that offers responsive, reliable customer support. You want to ensure any payroll issues get resolved quickly.

Putting It All Together

Outsourced payroll services are a strategic move that helps U.S. companies manage their LatAm teams efficiently while staying compliant with local laws. Whether you choose a comprehensive payroll provider like Ontop, Deel, or ADP, or decide to hire an in-house payroll expert through Lupa, outsourcing can reduce your administrative burden, save money, and ensure your employees are paid on time—every time.

Ready to streamline your payroll operations and hire top talent from Latin America? Lupa is here to help. Reach out to us today, and let’s start finding your perfect payroll specialist!