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2021 [PSG Approved] - Top HR & Payroll Software for Singapore SMEs
Managing payroll can be a daunting task. While not necessarily complicated, it can get excessively tedious, and any mistake can cause costly legal issues or potentially upset employees.
That is why many companies choose to outsource payroll handling to an accountant or a professional company that provides accounting services.
However, small businesses might find it too costly to outsource, particularly if they have very little starting capital. This is where payroll software could be a lifesaver.
Essentially, by running payroll software you would still be managing your own payroll, but it streamlines the process through automation such that the task is vastly simplified, thus both saving time and cutting down on errors.
There is plenty of payroll software available on the market and finding the right one for your business can be a challenge. We are here to help you get over this starting inertia by recommending some of the best payroll software in Singapore.
What are the Top PSG Approved Payroll Softwares That SMEs Should Consider:
JustLogin is a premier Software-as-a-Service (SaaS) provider that offers a suite of HR and office collaborative apps. Its applications include JustPayroll, JustLeave, JustClock, JustExpense, JustBenefit, and JustPeople. Each individual app will have its own cost, but they integrate well with each other, so it is up to you to decide if you wish to purchase them.
JustPayroll itself is pretty nifty. It features a user-friendly dashboard that performs payroll management in full compliance with IRAS, CPF and MOM regulations. In addition, it has its own mobile application, so it can be accessed on-the-go from your mobile phone.
Prices start at S$5 per user each month, but you may wish to get in touch with them directly and ask for a quote; depending on your number of employees you may get a better offer. You can also take up a 14-day free trial without having to give out your credit card details before you decide if JustLogin is for you.
For small, adaptive, and slick business operations, the loudly named PAYDAY! will fit right in with your ethos.
Optimised for mobile, this cloud-based online payroll software does not have to be tied to an office’s local network and is fully functional anywhere as long as there is an internet connection. Other than allowing employers to manage payroll securely anywhere, employees are also able to use it to view their electronic payslips and to apply for leave online via their Android or iOS devices. Approvers can also similarly approve or deny said leave request on their mobiles.
It also offers a robust 30-day free trial for you to try out all their features before deciding to commit with them or not.
The pricing structure for PAYDAY! is as follows:
As can be seen, the costs can look increasingly unfriendly the bigger your company is. But if you are a compact and fluid group looking for something that is technologically manoeuvrable, PAYDAY! could be it for you.
Another cloud-based payroll solution, Talenox’s customer base boasts the likes of Ninjavan and Sgag, so they must be doing something right.
Despite their credentials, Talenox still offers a free basic plan for up to 5 employees. However, the basic plan lacks quite a few critical perks compared to their paid suite plan, including support for submitting IR8A forms (used for filing employee earnings) to IRAS, exporting CPF files for e-submission, and system integration with other accounting platforms.
There are no complaints about the paid plan, it does not lack any features compared to its competitors, including a leave approval system that isn’t strictly part of a payroll management software but which is usually included as part of a larger basic HR package. Just like PAYDAY! it is also well optimised for mobile, allowing users to access it anywhere on the go. However, at S$40 per month for the first five employees and a subsequent S$8 for each additional full-time employee, the price is not the most accessible as compared to other systems mentioned here.
In addition to the free plan, which will never expire, customers can also get a 30-day free trial. So if you would like to see if Talenox justifies its more premium pricing, they will be more than happy to give you the opportunity.
Info-Tech has been around for quite a while (since a time when hyphens in names were deemed futuristic and popular for tech companies) and their award-winning HR and payroll software has stood the test of time. It has long got the basics right and have since adapted to rapid modernisation by adding trendy new features. Its mobile app has face recognition, and its system is one of the few that is available in both Chinese and English, which explains why its list of prestigious clientele includes a host of Chinese companies such as Haidilao.
Info-Tech is also the only HRMS provider to obtain Singapore’s highest security standard Multi-Tier Cloud Security (MTCS) Certification recommended by IMDA.
Approved by the CPF Board, IRAS and all banks in Singapore, Info-Tech has all you need to manage the payroll in a Singapore company. It also comes packaged with leave functions.
Pricing begins at S$2 monthly per employee, which is a steal if your company does not employ many staff. As far as we can tell, there is no free trial offered; you are just going to have to trust their reputation and experience in the business.
The Government announced in the Budget earlier this year that the Productivity Solutions Grant (PSG) will be extended to March 2022. This grant supports SMEs keen on adopting IT solutions and equipment to enhance business processes by providing up to 80 per cent subsidy for the cost of adoption.
Adopting a payroll management system would be applicable for this grant, and all of the companies mentioned here are pre-approved PSG vendors. So be sure to take that into account for your operating costs, at least up to 2021, when selecting a solution for your payroll management.
Notable Mention: Free Payroll Software For SMEs
Last but not least, if affordability is an issue for your company, then Singroll simply must be one of your considerations when choosing a payroll software: because it is absolutely free. As a testament to its popularity, Singroll is currently in use by over 4000 companies in Singapore, processing payroll for almost 25,000 employees monthly.
There is no catch, no hidden clauses, or exceptions. Singroll can support an unlimited number of users, companies, and even employees, without additional charges or grant needed.
With a wide array of features included, such as itemised payslips, CPF tabulation, and information updates from MOM, CPF, and WDA, you will really need a very good reason to justify looking for a paid alternative to Singroll.
Read also: Income Tax 2021: Tax Deductions On Work From Home Expenses
Read also: Singapore Businesses’ Guide to Hiring Interns + Grants For Interns 2021
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