The use of payroll software is a growing trend that reflects the need for businesses to simplify the payroll management process during every pay cycle.
The Covid-19 pandemic was a period of internet acceleration for many business sectors as we inevitably rely on the digital world when physical activities are restricted. The trends below explore how search trends reflect this.
Online search trends for Information About Payroll
Looking at the historical data of “Payroll Software” keyword searches on the internet, the result has been consistently high since 2020. Based on the table below, the search interest for payroll software is even higher than other searches on the topic of “Payroll Service” or “Payroll Outsourcing”.
What we can conclude is that there are more people interested in payroll software on the internet and willing to find out more about it than other payroll services. Payroll services and payroll outsourcing is an approach that uses a third party to run the payroll process.
Outsourced payroll services has its merits, but also comes with its own drawbacks. These include the higher costs of engaging such a service as compared ot using payroll software, along with the inability to be agile and react to changes in the staffing environment.
Yet, the availability of external payroll services and outsourcing companies remains a viable choice for F&B business owners. Upon observing a group of companies who transitioned to payroll software, it was noticeable that they had previously relied on outsourced payroll services for various reasons.
Firstly, they encountered difficulties when attempting to manage payroll internally, leading to challenges and mistakes. Secondly, they wished to allow their internal HR team to focus on important tasks such as recruitment and employee retention, rather than being bogged down by payroll responsibilities.
However, since outsourcing schemes are more expensive and often come with complex coordination between the two parties, payroll software has become a more popular choice than others.
Comparison of Payroll Software Prices in Singapore 2024
Let’s talk about payroll software prices. If the search for payroll software is so popular on the internet, does that mean that the price of this tool is also better than the more conventional payroll management?
The StaffAny team has gathered the latest payroll software prices from ten payroll software companies operating in Singapore, as of February 2024. These are taken from the lowest or starting price per headcount, which is the basic price when no additional feature or add-on has been factored in.
*Disclaimer: The information in this article is sourced from publicly available information, including third-party websites. Readers should be aware that circumstances may change over time, and new information may emerge that could affect the validity of the content. StaffAny bears no responsibility for any actions resulting from the information presented in this article.
Here is the payroll software price table for reference.
From the table above, we can see that the starting price of payroll software varies widely, ranging from $2 to $8. StaffAny’s PayrollAny price is on the higher end in terms of price, the at a flat price of $6 before discount, for payroll module only, per head in bundles of 10 users and with no roster limit.
Do note that this is a flat rate, which may be even lower compared to the final price of payroll software that may impose add-ons for additional service components.
Keep in mind, the starting price definition of each payroll software is not based on the same benchmark because they have different bundle features. Since there is no standardization of these features, it is important for potential payroll software users to understand the details of their needs.
Imagine for a moment that payroll software is a lunch menu at a restaurant. You may order an item from the ala carte menu so you won’t be sleepy at work afterwards, or you may prefer the full-set menu because you know you need a larger intake for more energy to do heavy work.
Just like your lunch preferences and order, the more you need, the more it will cost to get the necessary features from the chosen payroll software.
Let PayrollAny Run the Payroll Process for You Without Breaking the Budget
But what if there is a “lunch order” option that can cover all your needs without having to worry about additional costs? StaffAny provides that possibility for you through PayrollAny. Payroll software like PayrollAny makes things easier with its payroll system for hourly teams in F&B businesses and brick-and-mortar establishments.
PayrollAny is a new payroll system created by the product and engineering team at StaffAny to address the problems faced by brick-and-mortar establishments, F&B enterprises, and HR departments in Singapore.
Previously, StaffAny’s product team conducted an extensive research to find out what pattern problems faced by existing payroll software users in the F&B industry. Then, they studied existing payroll systems to see the gap between user needs and the services/features provided. Recognizing the need for an all-in-one solution, the team set out to develop PayrollAny
PayrollAny offers an automated payroll system designed to simplify processes and eliminate errors. With payroll software incorporated into the suite, accessing information is easy, allowing for hassle-free and timely processing. Users can easily clock in digitally and no longer need to manually enter timesheets, allowing for accurate tracking of breaks, overtime, leave and accumulated hours.
This centralized system ensures that all relevant data is safely stored in one place. When payroll time comes, PayrollAny will retrieve data from there to manage payroll tasks.
PayrollAny provides the following features:
1. All-in-1 suite for F&B employee data integration. (*these features marked with * below are priced separately from $6 payroll)
- Scheduling*
- Timesheet Consolidation
- Leave Automation*
- Salary Calculation
2. Count shift based pay item components.
- Regular salary
- Prorated salary for incomplete month
- Weekend shift/event
- Over-time allowance
3. Auto-calculate any fund contribution like CPF, SDL, SHG, and more.
4. Instant multi-entity payroll with bank file exports.
PayrollAny knows how important it is for your business to have payroll done right, on time, and securely. Hence, in this article, we break down 7 reasons why PayrollAny is the right payroll system for your F&B business and retails in Singapore.
Have you figured out what you need to get payroll done right, on time, and safely? Demos are usually the most convenient way of understanding the needs and functioning of payroll software in Singapore. Schedule a demo with us and we will help you find the payroll software solution that best suits your specific needs.
