Payroll Outsourcing Services 6 Questions to Ask a Payroll Provider
In Singapore, you, as an owner, are responsible for your business’ payroll processing. It is a lot of work. You can do it in-house or hire one of the payroll outsourcing providers in Singapore.
Singapore Payroll is an Obligation
Failing to pay your employees within seven days of the end of the pay cycle can adversely change the mood in your workplace. And even when you do it on time, you must ensure that each of them is compensated accurately in compliance with the Employment Act.
A professional payroll outsourcing provider in Singapore can assist you in streamlining the task. It will free you to focus on the core goals of your business, like improving revenue and profits.
Why should you appoint a payroll outsourcing provider in Singapore?
Payroll outsourcing providers in Singapore take care of payroll-related tasks. They handle salary calculations, direct deposits, payroll taxes, employee benefits, and wage garnishments and track paid leaves and holidays. They assist you in producing your employees on time and accurately.
Payroll services providers work within the framework of labour laws and the Employment Act of Singapore. They invest time and effort to stay abreast of the latest changes in the regulations to produce quality output. They generate itemised payslips for the employees to ensure compliance.
Payroll processing is a time-consuming and painstaking task. If you want to focus on your customers’ well-being without distractions, then hiring a payroll outsourcing provider in Singapore is a must for you.
Many business owners choose this alternative because they know that doing this task accurately is not going to generate any revenue for them. It enables you to save time, efforts and human resources that you could reassign to advance your business.
Who should outsource their payroll
Companies best suited to hire payroll outsourcing providers in Singapore are listed below. Go for it, if you are:
Short in finance and staff
Want to stay focused on growth
Wish to fulfil payroll regulations
Worry over payroll continuity
Struggle because of unreliable data recovery system
Questions to ask before hiring a payroll outsourcing provider in Singapore
Choosing the best payroll outsourcing provider in Singapore for your business is tricky. It would help if you found answers to a few questions before selecting one. They are as listed below.
1. Do you provide quarterly and yearly payroll tax preparation and filing?
Tax preparation is an essential activity under payroll management. Without it, your compliance is incomplete. It takes time and is complex, especially if you have employees from different geographical locations. Your payroll provider must be able to lend expert support to you for tax preparation.
2. What do you do to ensure data security?
Today, data security is threatened. Hackers can steal your data, or ransomware can cause data breaches and make your financial data inaccessible. You must ensure that your potential payroll provider has the latest software and systems to guard your data.
3. Can you integrate with our software suite?
You may have put together a software suite of tools to take care of the business’s daily tasks. Your payroll outsourcing provider in Singapore must be able to integrate with your system. They must be able to work with your accounting software, time-sheet management software, etc. Otherwise, it is going to increase your workload.
4. Does your team has qualified and experienced payroll executives?
Authorities worldwide are updating rules to prevent money laundering and terrorist financing. Singapore is no exception. Your provider’s payroll team need to track all the latest updates to ensure the quality of their output.
It is an added benefit if they have worked with companies from your industry or niche. Check if they conduct internal training sessions or send their employees to other organisations for training.
5. What customer service do you provide?
If you need assistance from your payroll provider, they should be able to respond within a certain period. You need to know their response time. You also need to decide on the mode of communication: telephone, video call, email, SMS, etc.
6. How much do you charge for your payroll services?
The price is going to depend on the payroll services you need and the provider. Ensure that there are no hidden costs and you will be paying for what you get.
SBS Consulting Pte Ltd is an experienced and reliable payroll outsourcing provider in Singapore. Please email us at [email protected] or call us at +65-6536 0036 to discuss your payroll need with our experts.