For years, offering payroll services to clients had been the proverbial double-edge sword. Once the process was implemented and any potential hazards were removed, the rewards in terms of revenue and client loyalty were evident — but on the flip side were the imposing tasks of keeping abreast of myriad changes in tax laws, rates and unemployment insurance, as well as adhering to the hornet's nest of compliance. As a result, many firms shunned payroll as a component of their core client offerings and gladly outsourced the service to one of many capable providers who often bundled employee benefits and HR services with their payroll offerings. But the past 18 months have, in many cases, reshaped firms' perception of providing payroll services, as practitioners scour the landscape for new sources of client revenue even as the economy slowly begins to climb back to its 2007 levels. In fact, a recent survey has shown that nearly 80 percent of firms polled indicated that they planned to grow their payroll services through the remainder of the year and into 2010.
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