When US firm Shaw, Stone & Webster opened its Singapore office back in 2008, the team needed support in the management of local payroll.
Shaw, Stone & Webster’s payroll is more complex than most local companies as their employees are hourly-rated and the overtime and off-day computations are different for each individual employee. Furthermore, the company has a large number of expatriate staff and these staff are entitled to different types of benefits-in-kind. This means that Shaw, Stone & Webster needed a payroll service partner who is not only well versed in payroll administration, but in tax legislation as well.
The search was on for a payroll service partner, and the main requirements to satisfy were accuracy and compliance. As Jesus Esteban Calimbas, the chief accountant at Shaw, Stone & Webster Asia, explained: “Obviously accuracy was a key factor as we didn’t want our staff coming back to us claiming they had been incorrectly paid or that their pay was late. With us not being familiar with the local regulations surrounding payroll, compliance was a worry and so payroll was something we thought best to outsource.”
PayrollServe took on the responsibility for handling the monthly payroll administration, including submission of reports to the relevant Government Board such as CPF Board and MINDEF. They also ensured that all staff were issued with accurate tax forms.
As regular as clockwork, Mr Calimbas sends the monthly payroll instructions to PayrollServe by email and receives the file back on schedule to check and authorise for payment.
“Any changes are dealt with on the same day by PayrollServe, so we are very happy with the response time,” said Mr Calimbas. “With a single point of contact to deal with at PayrollServe, communication is easy and there is a consistency of service year after year.” Mr Calimbas added that PayrollServe goes beyond the expected by keeping Shaw, Stone & Webster Asia Inc. updated on changes to regulations related to the company’s payroll obligations.
By engaging PayrollServe, the team at Shaw, Stone and Webster Asia, Inc. knows they have their payroll in good hands. Not only do they receive accurate and responsive service, but have the peace of mind that they are meeting all compliance requirements in Singapore. “We have increased the number of staff considerably since we first engaged PayrollServe, and I am impressed to note that despite the heavier workload, we receive the same superlative standard of service,” said Mr Calimbas. “To anyone looking to outsource payroll, PayrollServe will always be top of my mind to recommend.”