Efficiency Unleashed: Dive into the World of Payroll HRMS Innovations

Manual payroll calculations pose a high risk of mistakes that often lead to employee dissatisfaction. By automating these calculations and deductions, a payroll HRMS system can reduce errors while streamlining operations.

A robust system can take over all crucial payroll functions—including managing benefits—to free up your HR department’s precious resources for other tasks. These systems also stay on top of ever-changing tax laws, calculating deductions and withholdings automatically to keep your business in line with government regulations and avoid penalties. What’s more, they simplify tax filing by generating the necessary reports and forms.

What features should you look for in a payroll management system?

• Seamless integration - Choose a payroll HRMS that integrates flawlessly with cloud-based HR and payroll to automate salary and allowance calculations from employee records. It should offer customisation for payroll processes and individual payroll components (like salaries, allowances, and deductions) to cater to your business's unique needs.

• Direct bank transfers and file management – Choose a payroll HRMS that links with banks directly. This simplifies creating and managing multiple bank files for diverse payouts, making online bank transfers for payroll quicker and more efficient.

• Accurate CPF, FUND, and SDL calculations – Ensure that your payroll software remains up-to-date and is listed with IRAS in Singapore. It should keep in step with policy changes, tax rates, and more—all without manual intervention.

• Streamlined tax filing - Automate and streamline income tax filing with a system that generates and submits IR8A, IR21, IR8S, and Appendix A on your behalf, removing the burden of manual tax reporting.

• Extensive third-party app integration - Your payroll HRMS should integrate smoothly with third-party apps like Xero and Quickbooks.

• Accessible employee features – Finally, choose a payroll HRMS that provides employees with easy access to payslip notifications and downloads through an app. This helps create transparency and convenience with itemisation as per MOM guidelines.

What is the best payroll HRMS in Singapore?

Adaptive Pay revolutionises the payroll process—from automating salary calculations to facilitating swift tax filing—and integrates effortlessly with other modules like Leave and Attendance.

Compliant with CPF, MOM, and IRAS standards, it automatically pulls together all relevant employee data for processing. It even includes a pre-payroll acknowledgement feature to allow employees to flag any discrepancies before payroll finalisation.

Book a demo today to see how Adaptive Pay fulfils all your payroll needs while enhancing your efficiency and regulatory compliance.

About the company:

Adaptive Pay is a groundbreaking cloud-based HRMS and payroll software that simplifies and automates HR and payroll management for Singapore businesses. The software adheres completely to the employment laws and regulations of Singapore, rendering it a highly suitable option for local businesses. A notable characteristic of Adaptive Pay is its user-friendly interface. The implementation of advanced security measures by Adaptive Pay guarantees the confidentiality and security of sensitive employee data.