Running payroll is tedious? You are doing it wrong.

Ever felt frustrated running payroll? It’s complex, tedious, time consuming and doesn’t add value to growing your business - but it is essential.

Rick Nahm, payroll expert and Managing Director of Gpayroll, warns business owners should watch out for payroll errors and declaring taxable income incorrectly as this can result in hefty penalty fees for startups. He suggests that a payroll software can minimize errors and streamlines the payroll processes. “While such an option might seem a bit costly at first, the accuracy and effectiveness of payroll calculations definitely outweigh this additional cost in the long run,” Rick explains.

Most payroll solutions in the market today solve only half the burden by providing calculations only. This is where Gpayroll stands out. It covers not only payroll calculations but also automates provident funds, tax filings and salary disbursement.

Do you want to keep your team happy? A late or inaccurate wages can cause employees to question the financial stability of the business which may negatively affect the team culture. Given that employees form the base in all organizations be it small or big, the importance of a reliable and accurate payroll cannot be overstated.

Having transparent payroll stats is also important when looking for external investments. “Being financially transparent is important because most startups will be looking for funding. If everything is transparent, investors will be impressed and it’ll save a bunch of time for startups when preparing their financials.”

As a startup itself, Gpayroll understands that most startups have limited resources to scale their business. Rick has worked on leveraging regional startup exhibitions and partnering with startup and SME communities. “We feel that we have a long way to go in being recognized as one of the leading brands in the industry but we are definitely growing our presence,” says Rick. “Less than a year into operations, we already have over 200 clients. Word of mouth is something that is also working in our favor. We’re seeing more and more referrals from our existing clients, so we know we’re doing something right.”

Rick says the biggest challenge was during the initial market research stage where they had to gather all the local statutory requirements and reach out to government bodies and banks to integrate the Gpayroll platform with their system. They have made it happen for Hong Kong and Singapore, and the team is striving to replicate this for other expansion markets to come.

Looking into the future, Gpayroll is expanding into Malaysia, Thailand, and China to revolutionize the payroll experience. They are also developing new functions or modules, they aim to ease their client’s experience not just for payroll but also for accounting and HR functions.

“Always be passionate and always think of values you are creating.” – Rick Nahm, Managing Director of Gpayroll