Whether you’re a computing whizz looking to launch your own business or a newly-minted business owner, setting up your own company comes with a lot of administrative work. Ensuring proper payroll practices and bookkeeping are time-consuming but very crucial aspects that’ll keep your employees happy and your business compliant with the law.
Beyond keeping detailed receipts of all your company’s employment and salary records, you can’t simply ping your staff a PayNow transfer. The MOM (Ministry of Manpower) requires all companies to issue their employees itemised payslips within 3 days of payday. This means that the bigger your company, the more you’ll have to do.
Thankfully, there are a number of payroll and HR solutions in the market to streamline your back-office processes and make each pay cycle a breeze.
NeuHR – All-in-one HR solution with intuitive payslip, leave management and room booking systems
Image credit: NeuHR
If work efficiency is your top priority and you hate having a hundred open tabs just to settle administrative matters, then NeuHR is one all-in-one HR solution you need on your radar. The software has a user-friendly layout and holistic ecosystem that allows your business to automate everything from employee payroll to leave applications amongst other things.
This means no more manual calculation of salary based on leave days and public holidays, NeuHR automatically factors all these details into the equation and gives each employee a detailed breakdown of their earnings, bonuses, CPF and tax contributions each month. All this confidential information is stored in the cloud, with each employee able to access their itemised monthly payslips and a history of their earnings whenever they need to.
An example of an itemised pay slip employees will receive.
Image credit: NeuHR
Some other benefits of NeuHR is that it allows easy management of employees via teams, uploading of circulars and announcements to ensure your staff are connected and up to speed on everything that is going on. There’s also an option for employees to easily submit business claims and get those endorsed in a matter of minutes.
Even if you’re a liberal boss championing WFH, sometimes an IRL team meeting is necessary. NeuHR comes in handy, letting anyone check the availability of office rooms easily in calendar format and book one in advance without having to camp in-person to chope a spot.
Start-ups and SMEs will be glad to note that NeuHR is free for companies with no more than 20 employees, and you can even easily create a profile for new employees and separate them into their respective departments.
For companies with up to 200 employees, additional features such as circulating company-wide announcements and reports can be all yours for an affordable $29/month.
Find out more about NeuHR.
Talenox – Efficient in-app customer support
Talenox is well integrated with local banks and IRAS.
Image credit: Talenox
Talenox is another player that has been in the market for a decade now. Similar to other cloud-based HR solutions, this online payroll system is highly flexible, allowing you to make individual or batch payments to your employees effectively whilst adhering to all the statutory requirements. To give you added peace of mind, Talenox holds ISO 27001 Certification and constantly updates its software to keep up with the changes to local labour laws.
Talenox is also good for SMEs with multiple bases overseas; with their multi-payroll system, Talenox helps to keep track of the respective tax regulations and formats of other countries so your employees can easily file their contributions to their respective banks and government bodies.
And if you’re ever facing issues with no clue as to how to resolve them, Talenox provides efficient in-app customer support if you have any questions related to payroll and other HR matters.
Once you’re done with their 30-day free trial, you can have access to their additional functions such as their leave management system from $43.20/month.
Find out more about Talenox.
JustLogin – IMDA-approved and easy to ask for grants
Image credit: JustLogin
Granted that for very new start-ups and SMEs, the idea of whipping out a lot of money to automate your business can be daunting. As part of the SMEs Go Digital Programme by IMDA, JustLogin is a very affordable payroll software to consider, where you can easily receive grants from IMDA themselves when approaching them.
Image credit: JustLogin
In a matter of clicks, JustLogin does the nitty-gritty where it factors in overtime bonuses in your payslips, calculates your CPF and generates your bank files. The in-built accounting software then scans through these payroll entries to verify them before sending them out to employees.
Image credit: JustLogin
JustLogin also gives HR folks a bird’s eye view of the employees work hours and whereabouts via an easy check-in system where facial recognition and geofencing verification systems lets employees simply take a selfie to record their attendance at work. The system is also integrated with other software to aid HR staff with hiring processes such as Synergita and Avanz, which specialise in screening past performance of applicants.
Find out more about JustLogin.
SimplePay – Global company with automatic updates on laws
Image credit: SimplePay
A global company, SimplePay is well-equipped to handle companies with global bases into one account. It’s highly integrated with Xero and QuickBooks for their cloud-based accounting services, and you can expect to receive automatic updates from IRAS and CPF board when any changes are made.
Plus, there’s an Employee Self-Service function; unlike other HR solutions, employees are free to modify their own payroll system, such as being able to add insurance premium deductions or staff loans. These will then be reviewed by the HR managers so they can compile employees’ payroll slips accordingly.
SimplePay’s model is priced monthly at $4 per employee; if the company exceeds 25 employees, the price goes down to $3 per employee.
Find out more about SimplePay.
PayDay – Includes HR services like work pass management
Image credit: PayDay
Another HR solutions provider to know is PayDay. Not only are they MAS-licensed, SSAE 18, ISAE3402 and SSAE 3000 compliant; PayDay has experience in managing companies of all sizes from startups to MNCs with over 80,000 employees. They also provide the option of completely outsourcing your payroll if you’re not keen on hiring and setting up your own HR team.
Working closely with MOM, PayDay is also able to indicate details of employers in their payroll system to reflect if they are on S Pass or Employment Pass, and their salary will be calculated automatically this. An ideal feature for companies with a lot of foreign talent.
Other HR services PayDay provides include HR consultancy, where they have management specialists on board that can help you out with trickier decisions for your company.
Find out more about PayDay.
Ramco – Manages digital assets extensively
Experienced HR folks would definitely have heard of Ramco, the OG that has served over a thousand industry top dogs globally.
That’s why it’s especially a go-to for companies with offices in several cities of a country. For one, it keeps track of local legislation, and it also has a central system that keeps track of whether the payrolls of offices in each city have been finalised.
By making use of AI and machine learning, Ramco is able to analyse historical data to ensure that the payrolls are processed accurately.
Image credit: Ramco
Ramco’s popularity is also well-earned in other domains; they can extensively manage a company’s enterprise and digital assets – sounds cheem, but it basically means that they can take all of your company’s data through the Internet of Things (IoT) system, and use deep learning to predict future performance so your company can design new solutions better.
Besides all these, they also have warehouse management services, something to consider if your company is looking to expand operations, and you need more help to manage your central base.
Ramco’s model goes by a one-time purchase that will be made available to you once you’ve given your quotation, and you can access all features straightaway.
Find out more about Ramco.
Payroll software tools in Singapore that are MoM-compliant
Ever since AI and tech started making waves in the working world, one question we always ask ourselves is: how can we harness its power to make running a business smoother?
Technology becomes most valuable when it can help us with very mundane and tedious tasks, where it can complete it with zero mistakes. That’s why payroll software tools like NeuHR have become a staple in almost all industries, so you can focus more intently on other high-level tasks at work.
If you’re in the midst of launching or improving your own company, consider adopting these leave management systems to automate all things HR in your business. In particular, NeuHR is one such tool you can consider to do everything from payslip generation to room booking in one intuitive platform.
To get started on NeuHR or to find out more, email [email protected] to get the ball – or pay – rolling.
Check out more tools for work:
Cover image adapted from: TheSmartLocal, NeuHR