Oftentimes, small business owners are so busy with the day-to-day operations of their company that they don't have time to do everything themselves. This is especially true when it comes to payroll - an important task, but one that can be time-consuming and complicated. That's where payroll software comes in handy. We’ve therefore rounded up the best payroll software in Singapore, along with tips on choosing the right one for your business and implementation tips. Read on to find out more!

Benefits of using a payroll software

If you're looking for a way to streamline your payroll process, payroll software may be the answer. Payroll software can offer a number of benefits, including:

1. Accuracy: With payroll software, you can rest assured that your payroll calculations will be accurate. This can save you time and hassle in the long run.
2. Efficiency: Payroll software can help you to automate your payroll process, making it more efficient. This can free up your time so that you can focus on other aspects of your business.
3. Compliance: Payroll software can help you to stay compliant with payroll tax regulations. This can bring peace of mind and avoid costly penalties.
4. Cost-saving: Payroll software can help you to save money on payroll processing fees. This can be a significant cost savings for your business.

How to choose the best payroll software for your business

Now that you’ve decided that it’s the right time to invest in a payroll software, there are a few things you'll want to keep in mind to ensure you're getting the best possible solution for your business. Here's a quick checklist to help you choose the right payroll software for your needs:

1. Ease of use: The payroll software you choose should be easy to use and understand. Look for a solution that is user-friendly and offers clear instructions on how to set up and run payroll.
2. Integration: Payroll software should integrate seamlessly with your existing accounting and HR systems. This will make it easier to manage payroll and avoid duplicate data entry.
3. Support: Look for payroll software that offers excellent customer support in case you have any questions or run into any problems. A good payroll provider should be able to help you resolve any issues quickly and efficiently.
4. Pricing: Payroll software pricing can vary depending on the features and functionality you need. Make sure to compare pricing between different providers to get the best value for your money.
5. Scalability: As your business grows, you'll need payroll software that can scale with you.  Make sure the solution you choose can handle an increasing number of employees and payroll transactions.

Tips for implementing payroll software successfully in your company

Define your payroll needs

Before you start looking for payroll software, it's important to take a step back and assess your company's specific needs. What payroll processes do you need to automate? What features are most important to you? Once you have a good understanding of your needs, you can start looking for software that will meet them.

Do your research

Once you know what you're looking for in payroll software, it's time to start doing some research. Read online reviews, talk to other businesses that use payroll software, and get a feel for the different options available. By taking the time to do your research, you'll be able to find the right software for your business.

Get input from employees

Payroll software will affect your employees as much as it affects you, so it's important to get their input before making a purchase. What features would they like to see in payroll software? How easy should it be to use? Getting input from employees will help you make sure that the payroll software you choose is the right fit for your business, which will also help to boost employee software adoption.

Compare pricing and features

Once you've narrowed down your options, it's time to start comparing pricing and features. Not all payroll software is created equal, so it's important to find the right balance of price and features for your business. By taking the time to compare your options, you'll be able to find the best payroll software for your needs.

Test the software before you buy

Before you make a final decision on payroll software, be sure to test it out first. Many payroll software providers offer free trials, so take advantage of that and see how the software works in practice. This will help you make sure that payroll software is the right fit for your business before you make a purchase.

By following these tips, you can be sure that you find the right payroll software for your business and that you implement it successfully. Payroll software can save you time and money, so it's worth taking the time to find the right solution for your needs. To help you with the research, we’ve rounded up the top 11 payroll software providers in Singapore below!

Top 8 payroll software providers in Singapore

Payboy

Payboy is a Payroll and HR Management Software which automates the essential HR processes through a seamless ecosystem, so that businesses can focus on the HR work that truly matters– bringing out the best in their people.

Being business owners ourselves, we understand the little intricacies and problems fellow SMEs face. We are therefore always finding ways to improve and simplify our processes. Simple, nice, and easy to use. That’s our ethos. And as we use our own product, we’re rediscovering and evaluating it on the daily. 

Do it all with our flexible selection of modules to tailor a solution that solves the unique challenges faced by your business:

1. Payroll processing
2. Leave management
3. Claims management
4. Applicant tracking
5. Attendance tracking
6. Shift scheduling
7. Appraisal system
8. Inventory management
9. Project costing
10. Training Management

Why use Payboy to manage your payroll?

1. 100% Compliant and 100% peace of mind
   • Prepare your e-submission of CPF contributions with a few simple clicks on Payboy! 
2. Covers any work arrangement
   • Working with full timers, part timers, freelancers and contract staff? We’ll take care of the unique payroll requirements for each working arrangement.
3. Transparent, Accurate and Simple
   • Full visibility on how payroll is calculated automatically based on shifts, attendance, leave and submitted claims, within an intuitive experience.
4. Fully integrated with your preferred platforms
   • We’ll fit into your ecosystem seamlessly and keep your finance team happy. Check out our full list of integrations.

Payboy is also eligible under the PSG Grant! With PSG Grant, you can possibly save up to 70% of the total fees!* You can learn more about the Payboy’s PSG Package and how to apply for the PSG Grant on Payboy’s Support Centre!

 *Terms and conditions applied 

While we’d love to have you choose Payboy as your payroll software, we recommend that you test out a few before making the final decision. Here are some of the other payroll software providers in Singapore. Providers are not listed in any particular order.

Features stated are non-exhaustive, please refer to their websites for more information

So, there you have it! Our list of the best payroll software in Singapore, as well as tips on choosing the right one for your business and implementation tips. If you’re ready to find out more about Payboy, sign up for a demo with us below and we’d be happy to show you how our solutions can take the hassle out of payroll and leave you more time to focus on your business and people!