Get Payroll Software Singapore to Trump Your Statutory Compliance

Do the businesses need to implement a web-based payroll software Singapore?

Well, it is a point of debate for the startup and small business owners. On the one hand, they have to pay their employees on time so as to be compatible with the statutory compliance and on the contrary, they do not want their payroll processing to be a costly affair. Many of them resist using payroll software Singapore and prefer to do the task manually.

Using Payroll System Software to Cope with Changing Rules

Here is a reason why business in Singapore needs to invest in a payroll software. The laws and rules related to the payroll get updated now and then. If it goes unnoticed by the concerned person, it could jeopardize the businesses compliance. May by you have heard it that the Ministry of Manpower (MOM) has updated the duration of Paternity Leaves for the working father.

Will be difficult for a small business to accommodate the change especially if it is not using an online payroll software Singapore for the task?

Let’s see!

Now, the father of a Singaporean baby born on or after Jan 1, 2017, will get two weeks of leave. The provision is that the father should have worked for the employer for a continuous period of at least three months. The government will bear the cost of one week leave capped at S$2,500 including CPF contribution.

The working mothers will also get four weeks of paid maternity leave and even, the adoptive mothers will get 12 weeks of paid leave. Doesn’t it mean a lot of calculations for the small business owners who believe in Do-It-Yourself payroll? It would rather be prudent to use an online Singapore payroll software to automate the process, wouldn’t it?

Are you a Do-It-Yourself Small Business Owner?

The manufacturers of the web-based payroll system Singapore update their product whenever authorities come out with the payroll related rules and regulations. It lends a certain kind of simplicity to the use of a module-rich online payroll system. The software is updated on the web servers where remains installed. The users of the payroll system Singapore do not have to grapple with the software patches or updates to install them on their devices. It can be accessed from all over the world at any time.

Moreover, a web-based payroll software system can be accessed using different devices like a desktop, laptop, tablets and smart phones. The users of the software can access the resources on the web servers thorough the web browsers that are present in such devices.

Basic Features & Modules One Should Look in a Payroll System

A payroll system software that is rich in features can ease the following tasks for the Singapore businesses.

• Employee Management
• Master Setup Management
• Company Management
• Payroll Management
• Leaves Management
• Attendance & Timesheet Management
• Claims Management
• Progression Planning
• Enquiry Management
• Email and SMS Management
• Real-time Reports and Dashboards
• Schedule Management
• Tracking
• Bio-metric (Finger Scan) Attendance support
• Billing & Invoice Management
• Itemized Pay slip
• Multiple Company Setups & Document Upload
• Connectivity with Accounting Software like MYOB, QuickBooks, etc
• Experienced 24X7 customer service

Payroll Software Singapore to Secure Your Compliance SBS Consulting : authorstream

The manual processing of payroll is a lengthy and energy-draining task. The payroll executive needs to consider a number of components during the process. There are statutory contributions and deductions, mandated by the law of the land, and the calculation of employee benefits, bonus, hourly rates, leaves, holidays, overtime, taxes, loans to take into account. The lack of attention or fatigue on the part of payroll executive or the HR staff can generate inaccurate employee salaries. A business can simplify the task by merely adopting an online Singapore payroll software. 

The web-based pPayroll system software is user-friendly. They are easy to get used to, and even those with basic computer skills can use them easily. However, locating a payroll system for your use is a decision that needs to be taken carefully.

Take a deep look at the proprietary payroll software systems available in the market and also research on the internet locate the one that will match your needs. Shortlist a few of payroll software and discuss your particular requirements with their manufacturers to get your needs squared. The software developers working for them are fully geared to customize their off-the-shelf payroll software Singapore to improve your staff’s efficiency and productivity.  

Contact Info  
SBS Consulting Pte Ltd  
High Street Centre, 
#17-02, 1 North Bridge Road,
 Singapore - 179094  
Tel: (65) 6536 0036  
Email: info@summittech.com.sg 


 Originally Posted: http://bit.ly/2phoB5B

How is Payroll System Singapore Helping Business Enhance its Performance?

Running a business is like riding a roller coaster. It is not an easy task unless you cope up with the technology. There are numerous things which must be maintained in a seamless manner. One of the tedious tasks for the employer is to maintain timely and accurate data of all employees, their salaries and tax compliance. Nevertheless, use of a good payroll system Singapore could make the task less burdensome. 

Why is Payroll Important for Every Organization? 

Despite being a non-core activity, payroll task must be done with utmost care as it has a great impact on the employees of an organization. When an employer disburses salaries on time, it boosts the morale of the employees; they feel motivated to work with dedication and zeal. It indeed helps to increase the productivity. However, the task of payroll processing can be time-consuming and prone to error if you opt for manual method. 

This is where the online payroll software proves to be very helpful and efficient. It simplifies the mundane and complex task of counting employee’s salaries and other variables such as allowance, benefits, bonuses, etc. A payroll software automates the task, and everything can be done in just a few clicks of the mouse. 

A web-based payroll management system can be a very effective, fast, convenient and affordable solution if implemented carefully. Make sure to buy the product from a reputed vendor and also, consider below mentioned factors while selecting the final product. 

• Excellent support and customer care service

• Integration with accounting software and bio-metric finger scan

• Secured database or back system

• Report generation feature

• User-friendliness, simple-to-use feature

• On-demand demo

How Payroll Software Helps Business Increase Efficiency?

Following are the reasons why online software can be a win-win situation for an organization. 

Enhance Efficiency: 

When you use a good payroll software, it will streamline the activities. You would be freed up from the payroll processing task and can concentrate more on productive activities. The resource of the organization could be well optimized to increase the productivity. Moreover, payroll activities are done perfectly, ensuring timely salaries to the employees. It ensures 100% accuracy of the payroll data. 

It saves Time: 

It just takes a fraction of the time you earlier invested in doing payroll manually. Automation leads to the fast and prompt calculation of salaries of the employees. There is very less or no room for mistakes. But, in the manual method, it may take many days to do the same task. Also, chances of having errors in the manual calculation are very high. 

Compliance with Law:

Complying with applicable tax law would be easy if you keep the system updated with on-going statutes. It is challenging for a novice person to follow the latest tax tables while calculating the tax liabilities, but the same person can easily do the job with the help of the software (where automated tax table has been implemented). 

Motivates Employees

Employees of an organization feel motivated and encouraged to work more efficiently when they are being rewarded with remuneration on time. Miscalculations of salary or delayed salaries can make the employee lose faith in the management of the organization. Thus, it is necessary to provide the right amount of amount salaries on time. 

What are the Characteristics of a Good Payroll System Singapore? 

Today’s market is filled with plenty of payroll software making the task of selecting a good software quite challenging for the users. It is advisable to every user to take few factors into consideration to make the selection process easy and convenient.

• Web-based software is better than traditional system-based software.

• The interface should be user-friendly and easy-to-comprehend.

• A wide selection of modules has to be there.

• The system must be customizable as per the user’s requirement.

• Integration with accounting software.

• It must be accessible 24*7.

• The software can be used in any device such as the computer, laptop, tablet, smart-phone. 

Modules of Payroll System Singapore

Also, ensure to consider below listed important modules while selecting the payroll system Singapore for your company.

• Employee Management

• Master Setup Management

• Company Management

• Payroll Management

• Leaves Management

• Time Attendance: Roster & Time-sheet Management

• Claims Management

• Progression Planning

• Reports and Enquiry Management

• Email Management

• SMS Management

• Reports and Dash Boards

• Schedule Management

• Tracking

• Reporting

• Bio-metric (Finger Scan) Attendance support

• Billing & Invoice Management

Installing an online payroll software solution in place is one of the best decisions that an organization can ever make to simplify the workflow. However, you must choose the right and best software to keep the employees happy. As you know how employee’s morale help the business productivity to grow, it makes sense to invest in a good payroll software in this competitive world. 

Media Contact:  

SBS Consulting Pte Ltd  

High Street Centre, 

#17-02, 1 North Bridge Road, 

Singapore - 179094

Tel: (65) 6536 0036 

Email: info@summittech.com.sg

Payroll System Singapore: Tool for Businesses for Their Compliance

If you are not convinced about the importance of using a payroll system Singapore for your small business, let me try a different tack. Let me ask you a question. As a business owner, would you prefer to spend time on administrative tasks or spend it on revenue generation?

Take your time and think deep!!

Your choice can impact the effectiveness of your investments, execution of business idea and company’s chances at success and longevity. That is why a large majority of business owners opt to automate administrative tasks using business software Singapore like Singapore payroll system.

Is Payroll Processing a Core Task of Your Business?

The administrative tasks like manual payroll processing tend to be time-consuming and resource gobblers. Moreover, they are non-core tasks, and timely or accurately doing them is not going to generate any revenue for your business. It is a good enough reason for the owners to invest in an efficient payroll software Singapore and streamline the task.

The payroll is a liability for the Singapore businesses. They need to discharge it within the prescribed time-frame if they want to remain compliant with the mandates of Employment Act of Singapore. Adopting a Singapore payroll system also enables them to preserve the positive environment at the workplace.

If you are yet to adopt a pro-efficiency payroll system Singapore, surely, you have some solid reasons for it. Maybe you want to do it personally in order to be aware of the things, or it could be that you want to save money. However, as the business activities and the number of the employees start increasing, you will find less and less time to devote to such a task.

Getting tied-up in administrative tasks will mean that you will not be able to scale your small business beyond a certain limit. Your intentions could be honorable; however, it will not leave you with enough time to enjoy the fruits of your labor. Implementation of a Singapore payroll system rich in features will allow you to do both the things.

You should look for a payroll software Singapore that will enable you to automate as many tasks of your payroll as possible. You need to pay careful attention to the features and modules it offers.

Choosing HR & Payroll System for a Small Business

• Employee Management
• Master Setup Management
• Company Management
• Payroll Management
• Leaves Management
• Time Attendance: Roster & Time-sheet Management
• Claims Management
• Progression Planning
• Reports and Inquiry Management
• Email Management
• SMS Management
• Reports and Dash Boards
• Schedule Management
• Tracking
• Reporting
• Bio-metric (Finger Scan) Attendance support
• Billing & Invoice Management

Your best bet for finding an integrated payroll software Singapore is to search the internet and see what is available. However, you may conclude that this off-the-shelf business software Singapore are not adequate for your purpose. It is where you need to take a thorough review of your in-house processes and identify your special payroll needs. You can ask the manufacturer of the payroll software to customize it for your purposes.

Benefits of Using Payroll Software System

• Bio-metric Attendance: The state-of-the-art payroll software systems use finger scanners to record employees’ attendance and time-sheet data. The accurate data collected is used during the payroll processing.
• Statutory Contributions & Donations: The software takes care of the statutory contributions and donations like CPF, SINDA, CDAC, MBMF, SDL, etc.
• Automated GIRO: The payroll software takes care of online payment of the employee’s salary through Automated GIRO. It covers almost all the banks in Singapore.
• Centralized Database: The data captured by the web-based payroll software Singapore is stored in a centralized place on the web servers. It is protected using the security matrix and by controlling access to it through the use of User-names and Passwords.
• Employee Access: The employees of the business can use their User-names and Passwords to access the data on the web servers. They can check the leaves availability, fill and file forms and applications or communicate with the management of the company using SMSs and Emails.
• Performance Management: The payroll systems assist the management in performance management. It maintains data regarding progression planning, an employee’s previous positions & employment. It is useful in tracking an employee’s performance, training, retention programs, etc.

A payroll system Singapore is an essential tool for streamlining the payroll function of the businesses. It improves the efficiency and the productivity of small business. It takes all the payment related factors in consideration and produces accurate payroll for the companies. It takes the burden of the statutory compliance off the chest of Singapore employers and let them focus on the core goals of the business.