Reasons for Outsourcing Payroll in Singapore


 Payday is an important day for every employee. If you are still doing your payroll processing manually, the chances of getting it wrong are high. Companies want to avoid it and hence, appoint payroll services in Singapore.

Dissatisfied employees can ruin the positive environment in the workplace. It can affect your output. The experienced providers of outsourced accounting services Singapore assist you in avoiding such a mess with their quality payroll services.

Reasons for Appointing Payroll Services in Singapore

There are many reasons why a small business should hire reliable payroll services in Singapore for this complex and time-consuming task. Let us see the most important of these, then, you can decide for yourself...

#1. Complex Calculations

Processing the payroll of a Singapore company is a tough task. It also takes time and knowledge of the Employment Act. As per the act, you have to pay your employees within seven days from the end of the current pay cycle.

Payroll processing is a complex task as it has too many components, like salary, benefits, employee grades, different rates, incentives, leaves, public holidays, Etc. In addition, you have to take into account a number of by-laws, employees' CPF contributions as per their age, levies, taxes, and you cannot miss the steps for on-boarding or exiting employees.

#2. Hire Experts

The experts employed by payroll services in Singapore make it their business to know about the updates or changes in the payroll rules. They also have an advantage over an in-house employee doing payroll. These professionals know how to process payroll accurately. It is what they do for a living. They digitize your payroll information and advise you on the effective use of your money.

#3. Cost-Effective

You can reduce the cost by half if you choose payroll outsourcing Singapore. Doing so will eliminate costs of hiring, training and retaining an in-house payroll set-up. It will also free up your skilled human resources, which you can then allocate to accomplish the core objectives of the business.

#4. Payroll Software

The payroll processing is a repetitive task. It can be automated using feature-rich payroll software. The executives working for payroll services use the latest payroll systems to record and process your payroll data. They, if you require it, can also help you in fetching this data in real-time.

#5. Date Security

Many companies hesitate to go for payroll outsourcing Singapore. They are worried about the privacy of their financial data. However, the security of the data is not a cause of worry. The executives working or the payroll services Singapore are professionals and take every step in securing your data.

#6. Accessible Payroll Services

Singapore is home to many payroll services in Singapore that offers impeccable services. These providers are highly accessible as it is a competitive field.

You can get in touch with them by simply dropping an email, SMS, or placing a phone call. You can also visit their website and fill the form to get in touch with them.

Once you have hired the right payroll services provider, you can call or email them and provide them with your company's payroll information to process and prepare salary checks. Similarly, you can use the same means to update them with any changes in a particular employee's salary structure, grade, or other parameters related to salary.

#7. Additional Services

Depending on your needs, you can ask your provider of outsourced accounting services Singapore for extra services. The experienced ones, in addition to payroll, also take care of retirement plans, direct deposits, prepare insightful management reports, prepare types of forms, calculate employee tax. They may also accommodate any unique payroll related requirements that you have.

If you are searching for reliable payroll services Singapore, ask for references within your business and friend circle. You can also go to the internet and base your decision on the customer reviews.

Before contacting a provider of payroll services in Singapore, know your needs and discuss them with the provider. Contact us on +65-6536 0036 or email us at info@sbsgroup.com.sg for our payroll services.

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