Discrepancies in tax compliance and delayed salaries can impact your business negatively. No doubt, handling payroll processes to the satisfaction of the authorities and your dedicated staff is no mean task. It is convoluted, time-consuming, and error-prone. If you barely have the expertise in numbers, employee data computation, and timing, you probably need to outsource payroll processing.
Onboarding a professional payroll processing service in Singapore comes with its many advantages. Your business can free time to concentrate on core functions, albeit at a reduced cost. You no longer need to hire and train staff on how to use payroll applications. Outsourced payroll function guarantees you accuracy, timeliness, and peace of mind with any process that touches on employee time and compensation.
What is Payroll?
Payroll is the official financial record that details salaries, bonuses, deductions, tax, allowances ad any other monetary transactions of your employees.
What is Payroll Processing?
Payroll processing is the process of managing the payment of wages or salaries of a company’s employees. There are elaborate processes involved, including computing staff time data within a specified timeline. It entails managing, depositing, balancing, and reconciling payment-related aspects of an employee for the stipulated duration.
What is a Payment Processing Firm?
A payment processor is any entity or service provider that deals with managing payroll matters in their entirety for a company. Their duties range from appraising and validating employee work hours, calculating salaries issuing, and depositing checks. They reconcile, follow up, and ensure employees are paid accurately. The processor can be internal, or it can be an outsourced payroll service.
What is Payroll Outsourcing?
Outsourced payroll services are third party payroll services that are provided by a processing service to a business. Many small and established ventures in Singapore are likely to rely on managed payroll services to streamline or to make up for their invalid payroll processing capacity.
When you outsource a payroll processing firm, they are likely to deliver services including but not limited to:
- Payroll Computation
- New talent acquisition and processing
- Resignation/termination processing
- Preparation & filing CPF contributions
- Paystub/slip preparation
- Submission of IR8A and IR21 income tax forms
- Filing of year-end income
- Preparation of standard and customized reports
How to Process Payroll in Singapore
The process and time it takes to prepare payroll depends on the methodology you’re using. Some businesses go for the manual option on spreadsheets while others resort to intuitive and convenient payroll software.
Manual payroll processing can take days, even when you have a small workforce. This time-consuming nature of manual handling is as a result of keying in time card data, salary computation, deductions, and over time using the traditional method.
Processing payroll comprises numerous steps that require proficiency and accuracy with data. As such, leveraging a reliable payroll software ensures that your taxes are filed in time and that your staff dues are never late.
How to Ensure Successful Payroll Management in the Singapore Marketplace
Payroll management refers to more than just employee data and the amount you pay them. A business needs to be on top of personal tax reporting and compliance with legal requirements in the lion state. Here are some things to consider when managing your payroll system.
The salary
It comprises of a worker’s basic pay, allowances, bonuses, and other entitled pay as stipulated in the employee’s job description.
- The Employment Act in Singapore requires businesses/employers to issue official pays slips that capture details such as employee/employer names, pay date, salary duration, allowances, deductions, overtime dues, net pay among others.
- Employers are obligated to keep accurate employee records detailing their salaries.
- For uncompleted work months, workers are entitled to pro-rated pay for the days they worked.
- A company is required to calculate overtime and compensate staff at a rate nod below 1.5 times the rate of hourly pay.
- Businesses need to abide by the set statutory reporting requirements. Companies must submit employee income information to the IRAS via myTax Portal. Employment income records are due every 1st of March.
Who Needs to Outsource Payroll Processing?
According to Singapore business regulations, businesses with at least seven employees need to report tax and payroll details. There are specific businesses that need to get help for their payroll functions. They include:
- Startups that are unacquainted with Singaporean labor regulations.
- SMEs with low budgets to support an internal HR department.
- Businesses that require cutting-edge payroll automation software.
- High growth rate companies that need to save time on non-core function.
Benefits of Outsourcing Payroll Services
Engaging a payment processing service in Singapore comes with misconceptions. However, there are benefits that companies enjoy by handing over payroll processes to a professional service provider.
Maintain control
Businesses tend to hesitate from payroll outsourcing, thinking that they will lose control. But the move enhances flexibility. When you sign a contract with a payroll processing firm, they are bound by strict rules and regulations. You still have the prerogative over what you want the provider to do.
Greater accuracy
Outsourcing payroll services delivers highly accurate payroll management and reporting. A payroll processing entity has a reputation for safeguarding and they will operate according to set code. They ensure that your taxes are filed on time, and your employees are paid punctually.
Cost-effective
Your established or upcoming venture saves money by outsourcing payroll. You forego the costs of hiring an internal payroll manager and staff training. You need not spend money on payroll software, stationery, or equipment.
Fraud Check
Outsourcing your payroll process means there is a third eye checking out instances of internal fraud. Professional payroll services will include no flag any suspicious activity from the past and the current. They are obligated to quality control and transactional accuracy.
Avoid Penalties
Businesses that keep filing their tax late or with runaway discrepancies are likely to contend with compliance penalties. With a payroll service in charge, your companies can reclaim compliance and avoid the hefty fees associated with late or erroneous tax reporting.
Updated technology and expertise
A payroll processing company relies on up to date payroll management software. They hire highly proficient experts with a background in payroll processing and management. The provider handles your payroll matters proactively, and it benefits your business significantly.
Factors to Consider When Selecting a Payroll Provider
Payroll processing services are a favourite with many Singaporean businesses. Finding a firm that can handle your payroll function efficiently, diligently, and professionally is challenging. Here are considerations.
Your needs
To succeed in your search for a payroll processing company relies on how well you have defined your company’s needs. You need to assess how you prefer to process your payroll. If you’re always on the move, check whether a web-based service is the right fit.
Also, you need to check the sensitivity of the information you need to pass on to the firm. Also, check what it costs to maintain an in-house payroll department.
Qualifications
It pays to verify the longevity of a payroll processing firm. If they have been at it for years, it’s a sign that they are stable. Online reviews will lead you to a diligent service provider.
Experience
Longevity in the business doesn’t mean that the payroll entity is super-experienced. If they specialise in payroll, they are better than those who dabble in it. Additionally, verify whether the firm’s employees are certified, accredited, and recognised by relevant authorities.
Service
The sensitive nature of the payroll process makes it crucial for you to be in constant communication with your payroll provider. Go for a firm that offers exceptional and personalised customer care. You want to deal with a professional team that understands your business and related challenges.
Security
Other than price, you need to asses whether they can be trusted with your money. The firm should demonstrate how they secure your money and whether they have insurance protection. Also, evaluate the encryption they use for your data and who has access to such information.
Payroll Management Mistakes To Avoid
Successful payroll management is a product of accurate processing, maintenance, and timely disbursement. It needs to be particular when it comes to compliance. This is the reason why many Singaporean businesses see the need to invest in progressive payroll applications to keep up with regulations. Here are some payroll mistakes you need to avoid.
Failing to keep accurate and updated employee data
As a business owner or employer, it’s imperative to keep updated employee records. They enhance accuracy when processing crucial business information. Failing to update an employee’s account details could lead to complicated and demoralizing situations.
Untrained payroll staffs and human errors
Some employers overstep the need to invest in payroll services to save money. A business that hires second-rated payroll experts will experience human errors in reporting. If you rely on incompetent hires who operate with non-standardized computing procedures, it could end up as a costly undertaking.
Irregular or delayed salary payment schedule
To avoid staff turnover, you must drive up staff morale with timely disbursement. On-time salary schedules boost passion and enhance productivity.
Failure To maintain and keep records of employee payroll
According to the employment act, businesses should keep and produce accurate employee data and forms when required. It makes a salary, tax, and employment-related conflicts easy to solve.
Compromising confidential and personal information of an employee
Critical employee details are supposed to be confidential. An employee’s salary, benefits, and personal bio-data need to be secured. There should be strict measures that ensure that such information doesn’t leak.
Payroll processing service |
Elements Global |
|
About |
Elements Global Services provides professional payroll services to global enterprises. Elements has immense experience handling in-country administration, compliance, and accounting. The firm relies on a platform with reporting, self-management portals, tax and compliance capabilities. |
|
Services |
· Administrative service outsourcing · Payroll · Consultancy · Global employer of record |
|
Address |
57 Mohamed Sultan Road, Singapore 238997 |
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Telephones |
(65) 6653 7497 |
|
Website |
|
|
Operating hours |
Weekdays: 9 am–6 pm |
Payroll processing service |
i-ADMIN |
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About |
I-admin offers user-friendly payroll services for Singaporean businesses. It presents innovative technology and system infrastructure that makes payroll management easy. I-admin relies on a proprietary web-based platform (cloud-based SaaS) to offer intuitive e-services to its clients. |
|
Services |
· Multi-Country & Regional · Custodial & Lodgement · Medium and large business payroll |
|
Address |
140 Paya Lebar Rd, Unit #07-07, Singapore 409015 |
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Telephones |
(65) 66028168 |
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sales@i-admin.com |
|
Website |
|
|
Clients |
· ADP Streamline · Workday · CIIC · Citibank · HSBC · UOB |
Payroll processing service |
HR Millennium Consultancy |
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About |
HR Millennium Consultancy specialises in recruitment for local and global businesses. It provides payroll services for domestic and international small and medium enterprises and multinational corporations. |
|
Services |
· Job Placement · Payroll · HR Consultancy · Recruitment · Immigration Consultancy |
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Address |
10 Anson Road, #12-13, International Plaza, Singapore 079903. |
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Telephones |
(65) 6227 6635 |
|
|
business@hrmc.com.sg |
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Website |
https://www.hrmc.com.sg/ |
Payroll processing service |
Singapore Payroll Service |
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About |
Singapore Payroll is a one-stop-shop for businesses looking for bundled payroll solutions. It offers recruitment services, salary disbursement and staffing solutions. Singapore Payroll empowers businesses with managed payroll services and helps to drive the growth of small startups. |
|
Services |
· Bookkeeping · HR and Payroll · Salary Processing · Salary Depositing · Tax Services |
|
Address |
151 Chin Sweet Road, #14-05 Manhattan House, Singapore 169876| |
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Telephones |
(65) 68169888 |
|
|
enquiry@jobplus.sg |
|
Website |
Payroll processing service |
Darwinbox |
| About |
Company Information: Simplify your payroll process with Darwinbox’s integrated, accurate, scalable, and secure payroll management system. With an option to choose between payroll as a product and as a managed service, you can perform all your payroll-related functions in a few simple steps. Get automated inputs, generate statutory reports and analytics, file returns, do salary structure configuration, compliance management, and much more without worrying about the data leak. With a central locking system, clear audit trails, and a highly configurable platform, businesses are leveraging our end-to-end payroll management system for efficiently running one of the most critical functions of their organisation. |
| Services |
● Simple Tax Declaration, |
| Address |
7 Straits View Marina One East Tower, #05-01 Singapore – 018936 |
| Contact |
Tel: (65) 3157 3767 Email: contact@darwinbox.com |
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contact@darwinbox.com |
|
| Website | |
| Clients |
|
| Review | Darwinbox enabled us to cultivate a culture of oneness with the help of their unified and intuitive HR Tech. – Prashant Parashar, CHRO Emcure. |
Payroll processing service |
Ace Financial Accounting |
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About |
Ace Financial Accounting has over 12 years of experience in the payroll processing field in Singapore. It provides businesses with customised accounting solutions. It employs the best payroll experts with immense technology knowledge. |
|
Services |
· Payroll Services Singapore · Company Incorporation Services Singapore · Accounting Services · Tax Services · Corporate Secretarial Services |
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Address |
20 Collyer Quay, #23 – 01, Singapore-049319 |
|
Telephones |
(65) 9098 5522 |
|
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info@acefinancial.com.sg |
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Website |
|
|
Operating hours |
Mon-Fri 9:AM-6:PM |
Payroll processing service |
SBS Consulting |
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About |
The SBS Group provides professional business accounting, auditing, and payroll processing services. It offers proprietary payroll software that meets your custom business needs. Additionally, SBS provides IT Consultancy services. |
|
Services |
· Company Registration · Payroll Services, · Accounting Services, · Corporate Secretarial · Taxation Services |
|
Address |
High Street Centre, #17-02, 1 North Bridge Road, Singapore 179094 |
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Telephones |
(65) 6536 0036 |
|
|
Email: info@sbsgroup.com.sg |
|
Website |
|
|
Operating hours |
9:00 AM – 6:00 PM |
Payroll processing service |
Mazars |
|
About |
Mazars is a globally integrated audit and advisory company in Singapore. It provides advisory and consultancy services to global enterprises. It employs over 200 workers with highly coveted HR, payroll, and corporate management skills. |
|
Services |
· Accounting Outsourcing · Payroll Outsourcing · Corporate Secretarial · Financial Advisory Services · Tax |
|
Address |
135 Cecil Street, #10-01MYP Plaza |
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Telephones |
(65) 6224 4022 |
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contact@mazars.com.sg |
|
Website |
|
|
Operating hours |
Mon-Fri 845-530 PM |
Payroll processing service |
Felton Management |
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About |
Felton Management payroll services address the needs of startup enterprises in Singapore. Felton employs highly skilled accounting, tax, and payroll specialists. The firm offers a one-stop solution to clients and it’s an Accounting, and Corporate Regulatory Authority of Singapore (ACRA) accredited payroll service. It enables clients to meet their tax and compliance obligations. |
|
Services |
· Payroll and HR Audit · Account · Tax · Company incorporation · Compliance Filing |
|
Address |
135 Middle Road, #02-01 Byland’s Building, Singapore-188975 |
|
Telephones |
(65) 818-997-87 | |
|
Website |
|
|
|
admin@fmgmt.sg |
|
Operating hours |
Mon-Fri 9am-6pm |
Payroll processing service |
Payroll Serve |
|
About |
Payroll Serve is committed to the provision of exceptional payroll services. It operates with a blend of cutting-edge solutions and an ADEPT team of CPA/payroll professionals. It’s famed for its leading cloud-based and fully managed payroll / HR solutions. |
|
Services |
· Payroll tax filing · Payroll outsourcing · HR · Workpass management · Employee self-service |
|
Address |
8 Wilkie Road, #03-08 Wilkie Edge, Singapore 228095 |
|
Telephones |
(65) 6336 0600 |
|
|
vanithar@PayrollServe.com.sg |
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Website |
|
|
Operating hours |
Weekdays: 9 am–6 pm |
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Clients |
· Hill and Knowlton · Trend Micro · Booking.com · Jtron · Virogreen |
Payroll processing service |
Rikvin |
|
About |
Rikvin offers a one-stop solutions package to local and offshore Singaporean businesses. It handles corporate payroll and other HR services. Rikvin is registered with the Ministry of Manpower (MOM), and it provides visa services for ex-pats. It presents tailored solutions for your payroll needs. |
|
Services |
· Singapore Immigration and Work Pass Services · Accounting and Taxation Services · Compliance Services, · Singapore Payroll HR Services |
|
Address |
30 Cecil Street, #19-08 Prudential Tower, Singapore 049712 |
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Telephones |
(65) 6438 2436 |
|
|
Email: info@rikvin.com |
|
Website |
|
|
Clients |
· Nauvata · Hungama · Hawk Aerospace · Reliance · Inmobi |
Payroll processing service |
Alchemy |
|
About |
Alchemy is the leading provider of end-to-end payroll outsourcing and processing services. It provides intuitive payroll solutions that save your business time and money. Alchemy’s payroll services enable businesses to meet compliance and to keep their workforce motivated. |
|
Services |
· Payroll Outsourcing · HR Consultancy · Performance Management Services · Workplace Wellness Programme |
|
Address |
809 French Road, #04-172, Singapore 200 809 |
|
Telephones |
(65) 9846 9989 |
|
|
enquiry@alchemyconsultancy.asia |
|
Website |
arsb.com.sg |
Payroll processing service |
Payroll2U |
|
About |
Payroll2U offers full-stack payroll and HR solutions to empower businesses to focus on their core competencies. It presents a smartPAY functionality to enable clients to leverage the cloud. Payrool2u offers payroll services and web-based payroll (SaaS) solutions to enhance its global expansion. |
|
Services |
· Payroll outsourcing & SaaS · Payroll processing · Payroll software · Payroll implementation · Payroll audit |
|
Address |
6 Temasek Boulevard #22-03 Suntec Tower FourSingapore 038986 |
|
Telephones |
(65) 6592 1811 |
|
|
sales@payroll2u.com |
|
Website |
Payroll processing service |
ACRAFILE |
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About |
Acrafile specialises in providing secretarial services to Singaporean businesses. It’s a one-stop provider of corporate secretarial solutions. It provides payroll services that meet the unique needs of their clients. |
|
Services |
· Annual return filing · Secretarial · Accounting · Payroll services · Incorporation services |
|
Address |
111 North Bridge Road # 08-19 Peninsula Plaza, Singapore 179098 |
|
Telephones |
(65) 6837 2871 or +65 6741 2728 or +65 9851 0851 |
|
|
Email: sales@acrafile.com |
|
Website |
|
|
Operating hours |
Mon-Fri 9am-630pm |
Payroll processing service |
Info-Tech Systems Integrators |
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About |
Info-Tech System Integrators boasts over 20 years in the payroll processing sector. It offers cost-effective solutions and flexible human resource management systems. Info-tech assists small and established businesses with digital HR solutions. It provides payroll software at $2 a month. |
|
Services |
· Payroll services · HR |
|
Address |
30 Kallang Place, Singapore 339159 |
|
Telephones |
(65) 6297 3398 |
|
Website |
|
|
|
sales@info-tech.com.sg |
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Clients |
· Certis · Star Hub · Cisco · Haidilao · Gong Cha |
Payroll processing service |
Liberte Consulting |
|
About |
Liberte consulting helps businesses to offload the HR burden from their HR departments. It won the Best HR Outsourcing Partner award in 2019. Liberte provides an innovative payroll platform that helps businesses to streamline their HR functions. |
|
Services |
· Payroll Outsourcing Services · Payroll Automation · HR Consulting Services · Performance and Training Management · HR Services |
|
Address |
160 Robinson Road, #04-09, Singapore 068914 |
|
Telephones |
(65) 6909 2084 |
|
|
enquiry@liberteconsulting.com.sg |
|
Website |
https://liberteconsulting.com.sg/ |
Payroll processing service |
AG Accounting |
|
About |
AG is an award-winning professional accounting company. It serves midsized and growth ready SMEs. It offers fast, effective, and proven HR solutions. Additionally, AG provides corporate advisory and accounting solutions to businesses in the F&B, Logistics, Engineering, Manufacturing, and marine industries, among others. |
|
Services |
· Accounting Services · Branding Services · Company Incorporation Services · Corporate Financing · Payroll Services |
|
Telephones |
6012-5272480 603-79822937 |
|
|
johnwoo@ag-singapore.com admin@ag-accountingservices.my |
|
Website |
|
|
Clients |
· Samsung · Lotte · Vulcan · Business insider · Schenker |
Payroll processing service |
ActivPayroll |
|
About |
ActivPayroll provides global payroll services that help businesses to maximize transactional efficiency. It allows companies to take care of their employment tax and compliance issues. Activpayroll relies on progressive HR applications to boost business efficiency. |
|
Services |
· Global payroll · Audit and compliance · System integration · International payment |
|
Address |
101 Thomson Road, #27-03A United Square, Singapore 307591 |
|
Telephones |
(65) 6351 9620 |
|
|
enquiries@activpayroll.com |
|
Website |
|
|
Operating hours |
Weekdays: 10 am–6 pm |
|
Clients |
· Swarvoski · Opentable · Tesla · Shopify · Nutanix |
Payroll processing service |
BIPO |
|
About |
BIPO is a recognised HR company that helps Singaporean and overseas clients to scale their HR functions. It relies on a cloud and mobile resource management platform. BIPO strives to offer businesses a cost-effective HR suite that comprises of payroll, attendance automation, and recruitment solutions, among others. |
|
Services |
· Payroll Outsourcing · Administrative Outsourcing Services · Attendance Automation Services · Business Intelligence · Business Process Outsourcing |
|
Address |
230 Victoria St, #15-01/08, Singapore 188024 |
|
Telephones |
(65) 6813 0610 |
|
|
albert.liew@biposervice.com |
|
Website |
|
|
Operating hours |
weekdays: 9 am–6 pm |
|
Clients |
· Seko · Royale international · Panalpina · Katcon · Hafele |
Payroll processing service |
Ideal Corpserve |
|
About |
Ideal Corpserve specializes in Payroll Outsourcing and corporate services. It helps businesses to meet CPF registration, GST registration, and filing, and personal income tax filing services. It enables its clients to leverage technology to streamline their HR services. |
|
Services |
· Accounting & Bookkeeping · Tax Filing · Payroll Management · Payroll Outsourcing · Work Pass Administration |
|
Address |
330 Tampines Street 32, Singapore 520330 |
|
Telephones |
(65) 6650 0130 |
|
|
Contact@idealcorpserve.com.sg |
|
Website |
|
|
Operating hours |
Mon-Sat 9am-9pm |
Payroll processing service |
Oaktree |
|
About |
Oaktree is the brainchild of CPA Cloud accountants. It provides top-shelf cloud-based payroll solutions. It helps businesses to stay compliant in the tax, accounting, and corporate services. Oaktree relies on technology to boost business efficiency. |
|
Services |
|
|
Address |
7 Temasek Boulevard #12-07 Suntec Tower One, Singapore 038987 |
|
Telephones |
(65) 8891 7181 |
|
|
consultants@oaktreecloudsolutions.com |
|
Website |
Payroll processing service |
SingRoll Pte Ltd |
|
Services |
* Our Software is Free for ALL and Unlimited period with Unlimited users. |
|
Address |
International Plaza, 10 Anson Road, #30-06A, Singapore 079903 |
|
Telephones |
+65 80234877 |
|
|
info@singroll.com |
|
Website |
https://singroll.com/web/ |
Common Payroll processing Provider Misconceptions in Singapore
Although budding busses acknowledge the input of outsourced payroll, myths and half-truths are being peddled about these service providers. Here are misconceptions that need clarification.
Outsourcing payroll is a complicated process
Majority of payroll processing firms in Singapore offer easy to use systems that make payroll issues to disappear fast. Professional payroll firms assist your business to gather all the information needed for a seamless and quick transition.
It’s costly
For SMEs and established businesses in Singapore, managing payroll in-house is quite expensive. Your in-house team can spend countless hours tallying and computing relevant data other than the wasted hours; an incompetent in-house team could be the reason why your business keeps incurring tax penalties.
It’s not is not secure
Professional payroll services ensure that your company’s information is secure; there are regulations and a contract to be honoured. The trusted service provider will invest in the latest security systems to keep client information safe.
Outsourcing payroll surrenders control
If you outsource payroll, the general feeling is that you’ll have lost control of such a sensitive function. However, these providers operate hand in hand with companies to make it a productive partnership. You only need to maintain regular communication for it to work.
Considerations for Payroll Outsourcing and Processing Services
If you’re still hesitant to make the payroll outsourcing decision, here are some considerations to make:
Company Resources
An employer needs to assess the capacity of the company regarding resources. If there’s a lack of necessary equipment and highly trained payroll personnel, the best decision is to outsource the function.
Data Security
As an employer, you must keep your employee’s data safe. Small businesses face the challenge of security when gathering and processing employee data. Payroll processing firms know that they have highly sensitive data to safeguard, and they go to the extreme to secure that data from prying eyes. It’s key to partner with a provider who operates with the latest security tools and strategies.
Tax Compliance
Knowing how to manage tax and meet compliance is a big concern in the payroll processing field. With a professional provider, you’re guaranteed of proper accurate and timely tax reporting and filing.
Employee Self-Service
Businesses benefit significantly when they enable employees to manage their payroll matters. Offering self-service capabilities online is convenient. Your personnel can access their pay information through apps and seamless interfaces.
Questions To Ask a Payroll Service Provider
Before you contract a payroll processing firm, you need to assess their expertise, proficiency, and professionalism by asking some of the questions below.
What specific payroll services do you offer?
Payroll processing entails general payroll processing, timekeeping, and reporting. Before you hire a provider, check whether they’re conversant with the process. Also, check if they can offer payroll services that answer to your critical business needs.
Are your payroll services compatible with our accounting software?
Payroll companies that avoid integrating their systems with business accounting software aren’t a good pick. Always choose a payroll firm that is ready to give you flexibility and control by integrating your accounting systems with their software.
What are your fees?
The best payroll firm offers competitive pricing. They explain every item on the bill, and they never work with hidden fees. Ensure that they can provide a pricing based on your business-specific needs.
How will you set and run the payroll service?
Even though the provider will handle the payroll, it’s essential to check whether it comes with a steep learning curve. Always go with a firm that provides a user-friendly system and a smooth transition.
Do you provide payroll tax solutions?
When selecting a provider, make sure that they offer tax advice. This way, you’ll have peace of mind knowing that your payroll tax compliance matters are well taken care of.
Skills Every Payroll Administrator Needs
- Tax compliance knowledge
- Robust maths and numeracy skills
- Specialised accounting experience
- Communication skills
- Customer service and etiquette skills
- Flexibility
- Meticulous planning
- Decision-making skills
- Administrative skills
- Proficiency with industry software
- Leadership skills
- Teamwork skills
Signs That You Need To Outsource Your Payroll Services in Singapore
You are making recurrent tax mistakes
Your business cannot afford to make payroll tax compliance mistakes. To void nasty tax penalties, an agitated workforce, consider outsourcing your payroll function.
You are expanding your business
If you’re expanding your business to more regions, the need to outsource payroll increases. If you’re going global, you need to contract a provider instead of running payroll in-house. Professional payroll firms come with expertise in handling payroll in Singapore and other global locations.
You have experienced internal fraud
Singaporean businesses suffer from internal fraud. To circumvent fraud incidents in your accounting department, consider outsourcing. The best firms operate prudently, and they’ll save your business money and its reputation.
You are not happy with your payroll department
If your in-house payroll manager keeps reporting negative results, it could impact your business negatively. If you keep firing and hiring new talents, it’s equally frustrating. Bringing in a credible payroll processing firm will align the function expertly.
You are spending more time handling payroll
Small businesses and established enterprises lose loads of time handling payroll matters. Your in-house team is liable to make recurrent mistakes, meaning it requires more time to make amendments. To save time on core business functions, consider the services of a professional payroll company.
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