Every business, irrespective of sizes and nature, wants to grow and reach next level of the success. However, not all entrepreneurs are ready to spend a stupendous amount of money, time and resource for a magical solution.
In today's competitive world, everyone seeks for solutions that use minimal resources, while giving a boost to the productivity and return on investment. For instance, many businesses are turning to payroll software Singapore to automate the mundane tasks of calculating employee's salaries and other related activities.
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| Singapore Payroll Software |
An HR and payroll software can be used to streamline the tasks involved with payroll processing, tax calculation, managing allowances and keeping up with tax regulations and so on. This blog will provide the benefits of using a good payroll software in Singapore.
Implement Payroll Software & Save Your Precious Time and Money
A study shows that more than 50% of small businesses spend 1 to 5 hours per month on calculating payroll manually. In fact, some businesses even use more time. Let us imagine, if a company spend five hours per month on their payroll management, by the end of the year, that company ended up using over a week for calculating its payroll. You could have rather use that time in some productive activities of the business to increase ROI. Most Importantly, an automated payroll software not only saves time but also eliminates the chance of human errors.
As your business expands and hires more employees, so do the payroll costs increase. It has been noticed on many occasion that more than half small businesses spend up to 500 dollars per month on payroll processing using the manual method. This is exactly where the payroll software comes in. It can eliminate the cost of typical in-house employee cost while assuring 100% accurate results. So, you have less chance of being penalized by IRAS (Inland Revenue Authority of Singapore). When you install a web-based payroll software in your office premises, everything will be paperless, and thus, you save hefty amount on paper files, registers, and other stationary accessories.
Buy Payroll Software: Think Beyond Salary Calculations
The functionality of an advanced Singapore payroll software not just limited to the calculation of wages. The majority of software solutions come up with a range of extra built-in modules or add-on features. Below are the additional features that payroll software covers:
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Integration with Accounting software eliminates duplicate data entry and save time.
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Bio-metric (Finger Scan) Attendance support of Singapore payroll software enables the users to keep track of the working hours of the employee at their fingertips.
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Employee Management module allows the employees to get access to their payroll information.
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Users can calculate the payroll taxes, in a jiffy. It is updated with latest tax tables and ensures accurate calculations and filing of employee’s tax obligation.
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Generating itemized pay slip in accordance with the regulations of MOM is a breeze with payroll software Singapore.
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It is a ready-to-use software and does not require any additional hardware to get started.
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Support of IT team is not required to operate the software. Any novice person with basic computer knowledge can handle it without having to face any technical difficulty.
A good and advanced payroll software has the potential for maximizing the productivity of the business and thereby, it has been deemed to be a business software Singapore. In the city-state, due to the cut-throat competition, the market is flooded with affordable payroll software packages. Now, you could find a payroll software that suits your pocket well. The automation of non-productive function like payroll processing frees up the entrepreneurs to concentrate on core competencies of the business. The more you focus on productive activities, the higher will be the chances for growing 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
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