Professional payroll outsourcing vendors have extensive experience in processing payroll across a wide range of industries, and for companies of all sizes. This means that even if your company is growing rapidly or expanding into new countries, the accuracy of your pay runs will never be in jeopardy, and they will always be fully compliant with local labour regulations.

An expert payroll services provider will remove the need to waste time hiring and training a new payroll administrator every time your company experiences growth, or if one of your team members resigns. Instead, you can gain peace of mind from knowing that your employees will be paid on time, every time, by a consistent and dedicated team.

The personal data stored in payroll systems is highly sensitive. Keeping this data secure and compliant with local personal data protection laws requires a significant investment, not only in infrastructure, but also in cybersecurity and personal data protection training for staff. Reliable payroll outsourcing service providers store their data on highly secure cloud-based servers to deliver maximum data security and protection. At BoardRoom, we look to operationalise, not just tick boxes when it comes to securing and protecting your data. It’s why:

• our team members participate in regular cybersecurity training sessions, as well as data protection training sessions every year;
• our data centres have achieved ISO27001; and
• our cloud hosting was awarded SOC 2 certification.

In Hong Kong and throughout the APAC Region, HR teams need to factor in a multitude of compliance and regulatory risks when processing payroll. This complexity goes beyond calculating gross net salary correctly, extending to whether or not your company meets specific statutory deductions.

Complexity, coupled with intricate reporting standards, makes it challenging for even the most experienced in-house team to stay compliant. Payroll needs to be done on time and error-free every time to avoid time-consuming audits and costly penalties. A professional payroll outsourcing provider minimises your exposure to these compliance and regulatory risks.

At BoardRoom, we are experts at helping companies to gain an advantage through efficient, accurate and compliant outsourced payroll services. Letting us manage these services enables you to focus on what matters most in your company: growth and profitability.

Whether you are a large multinational corporation or a fast-growing SME, our team makes processing your payroll in Hong Kong easy. From local payroll services handling to managing substantial payroll obligations across the Asia-Pacific Region, we ensure your company remains compliant and that employees are paid on time, every time.

Speak to our payroll experts today about how to outsource payroll services for your company.

A general trend of companies that tend to adopt this service are organisations that exhibit the following characteristics:

• Non-complex Pay Runs – Standard payroll calculations for companies mostly consisting of full-time monthly salaried staff or casual labour typically find outsourcing payroll to be immensely beneficial as costs tend to be lower than having a full time equivalent (“FTE”).
• Expanding Businesses – For businesses like technology start-ups or food & beverage chains where growth can be exponential, good Outsourcing Payroll services and providers can keep up with dynamic and fast changes in staff numbers.
• Multi-Jurisdiction – These companies benefit from outsourced payroll as they can redirect the resources of the HR team into other business generating activities when they spend lesser time ensuring that they are familiar with the different laws across several countries/states.
• Compliance Worries – Companies that operate in markets with complex labour laws and regulations such as Malaysia and China might have a lack of access to expert knowledge necessary for them to operate with a peace of mind. Outsourcing payroll to a reliable vendor can help lift the burden of worrying about fines or potential lawsuits resulting from a misunderstanding of the complicated payroll requirements.

Of course, this is not an exhaustive list and there are exceptions. As every business is unique, an excellent Payroll Outsourcing Service provider should have the ability to customise and advise you on the best solution to meet your needs.

There is no one size fits all workforce management solution when it comes to Payroll, however, we often see companies that exhibit the following characteristics benefiting most from the adoption of an all-in-one human resource management system SaaS solution.

• Start-ups – A HRMS SaaS model can provide a no-frills solution to process payroll for growing companies. An all-in-one HRMS SaaS solution can also offer efficiencies for busy companies, automating and connecting many of the key modules needed to administer payroll such as leave, claims, and benefits administration, as well as performance management. Modern HRMS SaaS solutions such as a human resource management software will also cater to the mobile nature of our world and offer a mobile app and the ability to access the system anywhere, anytime.
• Companies using Offline Administration Methods – A HRMS SaaS model can help alleviate administrative burden for HR teams running manual payroll processing, especially ensuring data accuracy and calculations as the system will do this automatically.
• Companies with Complex Legacy Systems – Usually companies seek a HRMS SaaS solution when they have a legacy system that is unable to retrieve real-time data efficiently. Modern HRMS SaaS models provide real-time reporting capabilities, ensuring that businesses can leave behind clunky legacy systems and streamline to a more efficient mode of payroll reporting.
• Businesses with Complex Payroll Processes – The adaptability of a HRMS SaaS software ensures that even the most complicated and complex pay runs can obtain a customised solution, should they select the appropriate vendor.

There is a wealth of options for processing payroll. The correct solution will boil down to what is most suitable for your business. Your companies’ size, growth strategies, compliance requirements, existing HR management systems, and operating model will all influence the path you choose. Whatever your choice, whether a human resource management system software or other payroll outsourcing provider, always ensure that your solutions are in line with your objectives.

Our regional presence with offices in Singapore, Malaysia, Hong Kong, China and Australia and experience in dealing with various regional and international clients makes us one of the trusted Payroll Outsourcing partners in the APAC area. Contact our Payroll experts to see which payroll solution best suits your business.

Payroll is a largely administrative function that requires a high level of attention to detail. In short, it is a time-consuming business requirement, regardless of your company size be it 50 employees or 5,000, processing payroll is a constant that can quickly drain HR resources. When you outsource your payroll processing you allow your HR teams to focus on core business activities that drive performance and growth, fundamentally saving the business time.

Wherever there are time savings, there are typically cost savings, and outsourcing payroll is no exception. It is a common misconception that payroll outsourcing is more expensive than having an in-house team. The truth is, it really depends on your business needs, however, as a general rule you can expect payroll outsourcing to be a cost-efficient solution if you have standard pay runs.

If you require a more complex solution, payroll outsourcing could still be the answer. By outsourcing your payroll, you have a dedicated team at your fingertips who has an array of experience across a diverse range of business needs and challenges. You do not need to worry about hiring and training staff to manage your complex needs – allowing you to shift these finances towards profitable activities.

There is no one size fits all solution for running payroll. Each business has a unique set of requirements that a professional payroll outsourcing firm will not only cater to but recommend best practices processes and systems. Multi-country payroll processing, especially across Asia Pacific can be a daunting task to manage in-house. However, a payroll outsourcing firm will have a multitude of experience across a wide range of industries and will conduct multi-country payroll processing daily, meaning your business will benefit from their years of experience.

Comprehensive payroll reporting can make a real difference to an organisation, from visibility over annual leave trends for resource planning or assessing overtime reports, payroll reporting can play an important role in business planning. A good payroll outsourcing provider will not only have the platform in place that caters to comprehensive reporting they will also provide regular reporting and insights for your business.

By choosing your HRMS wisely, you guarantee peace of mind for your HR department and free-up resources to focus on other functions such as improving processes and securing a strong talent pipeline. In the words of Elbert Hubbard, let your extraordinary people do extraordinary work and leave the machine to do the ordinary work.

Personal data protection has never been more important than when in the context of processing payroll. The personal data stored for payroll is highly sensitive and requires a significant investment, not just in infrastructure but also in staff training to ensure companies remain in compliance with local personal data protection laws.

By engaging a credible payroll outsourcing company, the investment and risk associated with compliance failure by your internal teams are mitigated. The payroll outsourcing company will have extensive systems and best practice processes in place to ensure there are no data breaches, and also keep all your data backed up regularly with top-quality encryption.

Running payroll, especially across Asia, brings with it a multitude of local country statutory regulations and standards that need to be met. This goes beyond accurate computations of gross to net salary and moves into the specific statutory deductions required in the country you’re operating.

The intricacies of these reporting standards need to be timely and mistake-free to avoid potential time-consuming audits and penalties. A professional payroll outsourcing company will ensure you always remain a compliant employer, due to their team’s expansive knowledge.

A professional payroll outsourcing provider will also have had a variety of experience processing payroll for companies of all shapes and sizes that may have expanded to other places in Asia Pacific or across the globe. This is a direct benefit to your business because it means that irrespective of how you grow or where you grow into, you can rest assured that your company stays compliant in numerous jurisdictions.

A key benefit of outsourcing is direct access to a team of highly trained professionals well-versed in payroll and other areas of business compliance. Each individual is dedicated to answering any payroll questions you have, whilst pre-empting and providing proactive solutions to any potential issues that may arise. The team at BoardRoom has multiple years of experience offering outsourced payroll services to companies of all sizes from cities across APAC, which means their local and regional knowledge will offer you the best business advice. You will also have a team that is ready for action, with no need to train them.

Many payroll outsourcing companies provide complementary services which can be integrated into your business flows, streamlining your operations. BoardRoom is a good example, where the company’s team of professionals across Hong Kong, China, Singapore, Malaysia, and Australia offer comprehensive services such as Corporate Secretarial, Accounting, and Taxation.

This is a benefit to your business as you can tap into a team of experts that cater to all your back-end business requirements, ensuring you remain compliant across the board. By working closely with one vendor on multiple administrative functions, you can also experience smoother processes and greater efficiency, with less room for misunderstandings or errors.

At Boardroom, we are experts in helping all sorts of companies, from corporations to fast-growing SMEs, with their payroll, allowing them to focus on what matters – growth and profitability.

From local payroll services handling for Hong Kong businesses to managing substantial payroll obligations for bigger organisations spread across Asia-Pacific, we help companies comply with local statutory regulations while ensuring your most valuable asset, your employees, are paid on time, correctly and compliantly.

Contact us today and empower your organisation with greater freedom through our payroll services and solutions.

You can also learn more about our payroll solutions here.