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Outsourcing of Payroll Services Proves to be Godsend for SMEs

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Payroll-ServicesSingapore Payroll is one of the challenging and tiresome functions of any company. It requires a lot of concentration, efforts, and involvement of the staff working in the HR department. Singaporean SMEs really feels its brunt.
 

Singapore Payroll is a Non-Core Business Function

The small business owners have to devote a big part of their already limited time and resources to do their payroll on time and keep their employees happy. However, it will be efficient for them to hire a reliable provider of Singapore payroll services for it.

Appointing an outsourced accounting services provider helps the business owners in devoting their full attention to their core business activities like the development of their products and services and reaching out to their targeted audience.

 

Difficulties in Payroll Processing

Given below is a list of difficulties faced by small business owners in managing the task without the assistance of a professional payroll services provider. They find it challenging to cope up with:

  • Ever-changing payroll regulations
  • Preparing Itemised pay-slips
  • Regular updation of time-sheets and employee records
  • High costs of maintaining an in-house payroll set up
  • Human errors in data-entry
  • Problems in regularly monitoring & reporting of the data
  • Risk of losing records because of lack of back-up facility
  • The problems in disbursing salaries to the employees
  • Lack of satisfaction level among the employees
  • Explaining the reduced ROI to the investors

If you are dealing with the problems listed above, then it is high time that you think of employing an experienced provider of payroll outsourcing services in Singapore.

 

Benefits of Payroll Outsourcing Services in Singapore

These firms employ experts who are armed with the latest changes in the rules and regulations related to payroll. They use the latest payroll software tools to prepare itemised payslip for you. Before hiring them, it is better to discuss your payroll needs with them. And choose a package with affordable payroll services charges.

The reasons why payroll outsourcing services proves to be a godsend for SMEs are given below –

  • It saves time and money
  • It is cost-effective and helps in reducing the labour cost
  • 100% accuracy of the data is ensured
  • Payroll processing is in compliance with government rules
  • Payroll processing is in compliance with Singapore government rules
  • Payroll can be managed at the business’ convenience
  • Payroll executives remain updated with the changing governing regulatory environment
  • The data and records are kept confidential with selected read / write access to authorized personnel only
  • They offer you peace of mind
  • The data and records are kept confidential with secure read/write access to authorised personnel only
  • Data remains in back-up files
  • Accurately prepared itemised payslips are compliant with the law and win the confidence of your employees
  • The payroll software integrates seamlessly with the online services maintained by the prominent banks in Singapore. It makes it possible to credit registered bank accounts your employees with salaries
  • Their payroll software can take care of the payroll of multiple branches of a company
  • You benefit from the increased savings and less stress

Today, every business owner wants to have a lean company. In practice, it means outsourcing your business’ non-core tasks. Payroll processing is just such a task. Let the experts take care of it for your small Singaporean business. And, stay focused on growing it.