A Smart Payroll System to effectively reduce payroll processing costs
- Jun 15, 2020
- 0 Comments
THE ROLE OF HR:Complete access to end-to-end payroll and great workforce management with reduced cost.
One of the most important components of any HR function is the Payroll. It is impossible to manage employee data, access, payouts, tax filing and so many administrative tasks related to it without a proper payroll processing system.And many SME’s and startups prefer to outsource payroll management to third party providers.
A must-have quality of a good payroll provider is the convenience with effective collaboration and partnership. They ensure that the companies have complete access on end to end payroll services, payslip management, real-time report generation, and much more. This enables companies to have hassle-free payroll management and effective use of resources and time. With convenience comes the price and cost. These costs vary depending on the payroll involvement required by the organization. Though there are several payroll providers available, their prices may still be considered a little steep for small businesses and startups.
So, let’s take a deeper dive into the costs!
Payroll Costs and Services:
The costs and the service inclusions of any payroll providers are based on the features they offer the company. Costs differ based on the different services the company avails as per their requirement.Below are the features depending on which the payroll providers charge the companies on.
- Total number of employees in payroll
- Payment Frequency
- Tracking of worked hours and computation of rate.
- Payslip distribution
- Overtime Pay computation
- Leave management system
- Monthly payroll reporting
- Payroll services that require Adhoc
Payroll providers offer various packages for businesses to choose from ranging from basic to extensive coverage where the average cost per employee is somewhere between SGD 50 and SGD 55 for 5 employees. Including Additional features like leave management, claims processing, etc
How to reduce payroll processing costs?
The latest and trending solution to reduce payroll costs is replacing it with a modern and easy solution – a cloud-based HR solutions software. With this, all information is stored online enabling you to access accurate reports anytime, anywhere.
A good cloud-based HR software significantly reduces payroll processing costs at the same time provide an impressive and enhanced User interface with utmost comfort and convenience. This software ultimately becomes a must-have tool to achieve cost efficiency and in engaging, more people than traditional spreadsheets through excellent design and simple usability.
How can valluva be a solution?
Our cloud-based HR software is the best payroll processing system with a great user interface and design. Valluva has been Singapore’s leading Cloud-based HR solution. It focuses on providing a more technologically advanced solution for the right price with lightning speed and ease of use.
With our Valluva software, you are just 3 clicks away from getting your cloud-based “Payroll” done – Generate, Preview, and Submit. This package is equipped with all essential tools to make the task hassle-free with CPF calculator and auto SDL deductions. It has an out of the world web design and features that would subliminally make any user stay longer to explore more. All the above functions can be done easily without spending too much time on learning.It can be said that even the basics of users can become experts in no time. All the functions in this software are strategically laid out for enhanced user interface and easy navigation.
Valluva presents itself with packages ranging from Basic to extensive coverages. Both being cost-effective compared to third-party payroll providers. Now spend less time with payroll management by using this all new and tending cloud-based Payroll mnagement system
Contact valluva now to know more about the services Email at firstname.lastname@example.org