The owners of Small and Medium Enterprises (SMEs) in Singapore need to pay careful attention to the fulfillment of statutory compliance requirements. In addition to managing their business activities, they also need to look after faultless payroll processing, in order to pay their employees at the end of every pay cycle. Using one of the best payroll software for the purpose comes in very handy to them.
1. Convenience in Statutory Compliance
An integrated HR and Payroll software tool enables Singaporean small business owners in streamlining their payroll processing. The web-based Payroll System by SBS Consulting allows you to automate your payroll and ensure your statutory compliance. It includes all the factors of payroll processing such as CPF contribution, levies, hourly rates, grades, allowances, bonuses, leaves, holidays, etc.
2. Protecting Your Brand Name
A payroll software Singapore helps the SMEs in paying their employees on time. It avoids the mistakes that may happen during the manual processing of payroll. Timely and accurately paid salary helps the businesses in maintaining a healthy work environment. It also helps the company in protecting its brand name.
3. Payroll Processing is a Non-core Task
Most importantly, the payroll software relieves the management from having to deal with a non-core. Payroll processing does not produce any revenue and profit for the company, rather, it consumes skilled resources such as staff from HR and/or from the Finance department. Implementing payroll software relieves these professionals, which, then can be reassigned to the core tasks of the business.
4. Save Your Productive Time
Of course, instead of using payroll software, you can tackle the problem on your own. However, while doing it, remember you will not be making any money. And if you make an inadvertent mistake in the calculation, it may cost you much more than your time.
5. Payroll Software is a Help for the Non-technical Individuals
The software manufacturers update their tools whenever there are any changes in the rules and legislation. This removes the need to keep track of changes in the payroll-related rules. That is why even novices or non-technical persons can use the payroll tools without any discomfort. Large businesses can afford to invest in the latest payroll software, hardware, and payroll professionals to care for the task. It is the small businesses that get pinched, as paying salaries to their employees is important, at the same time they cannot afford to spend too much of their time for the task. In such a situation payroll software Singapore stands out as a great help to the small businesses
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