Does your company still use spreadsheets for managing and calculating payroll? Believe it or not, spreadsheets can cost your business—and we can list down several reasons to move away from the traditional system and switch to payroll software.
Excel spreadsheets, for example, don’t guarantee privacy. You can’t control what to show to other viewers, making payroll Excel files prone to alterations, falsifications, or worse, deletion.
Using Excel in payroll management also increases the likelihood of human errors since many people manage or open the file. And since users input data manually into the system, the consolidation process becomes more complicated.
Above all, spreadsheets aren’t scalable. Data grows with every organisation. As you hire more people, it becomes more challenging to handle huge or disparate employee databases.
Payroll software can turn these things around. You don’t have to bear with the disadvantages of spreadsheets. Get a payroll system in Singapore, and you will never regret having it.
Here are some of the top payroll software solutions you may consider:
1. Talenox
Talenox is a cloud-based payroll system tailored for both small and medium-sized businesses. It has received many accolades because of its simple user interface and other handy software functionalities, including:
- automatic calculation of employees’ salary, leaves, and overtimes
- creating and importing a spreadsheet
- one-click payments to banks
- automatic sending of online paychecks
This payroll software also allows users to view and edit company or employee information from any central dashboard and at any time.
2. Payday
Payday is yet another leading payroll system in Singapore. This program can keep track of payroll data and works well with different platforms, such as offline software, online SaaS, and HR Management Solution (HRMS).
Like Talenox, Payday also works under the cloud. It digitises all payroll activities and enables users to access their payroll information online. The software also allows employees to apply for leave and submit claims directly in the system.
3. Unit4 Prosoft
Unit4 Prosoft HRMS is comprehensive human resource software that covers essential HR functionalities, including payroll. It comes with a payroll processing module that allows HR teams to manage all the payroll activities whilst ensuring compliance with statutory requirements.
With this payroll system, your payroll staff can easily manage pay items, automate tax payments and e-filing, define multiple pay runs, allowances, and deductions, and export general ledger (GL) to the finance system, among many other things.
4. KeyPay
KeyPay is a payroll solution made for accountants and payroll outsource providers. The program promises unparalleled automation of various payroll tasks, such as pay runs, CPF calculations, timesheet imports, and report distribution.
KeyPay also comes with an employee self-service (ESS) portal, which stores and integrates all payroll-related data (i.e., leave, expense claims, employee information, timesheets, etc.) needed for payroll processing.
5. Singroll
Singroll is also a leading payroll system in Singapore that enables teams to run payroll with great speed and efficiency. This software comes with a built-in calculator, attendance function, leave management, staff advances and loan tabulation, and more.
The best part about Singroll is it’s completely free—no hidden charges, no licence fees, no pay per use, and even no grant application needed. So, it’s a great option if you want to cut your costs while ensuring effective payroll management at the same time.
Switch to a Payroll System
While spreadsheets can help your team manage your payroll, they fall short on many things, including data security, data accuracy, scalability, and more.
Your business needs an efficient payroll system that can grow with you, ensure accurate computation of employee wages, allow for convenient benefit administration, and deliver quick payments of salaries and taxes.