Itemised Payslip” is Mandatory From 1 April 2016

Our payslip format is compliant to the MOM’s requirements.

Secrets for free itemised payslip solution?

Today, many B2B SaaS(Software-as-a-service) offers free or freemium package, and they are not just ‘you get what you pay for’ product. They are rather equipped with today’s advanced technology and fantastic user interface for the best user experience. The main driver of this pricing model is definitely to grow user base, and/or to overcome their weak(er) brand value in the market.

Free for itemised payslip

In payroll industry, there is an example of SaaS to offer free service. ePayslip.com is a web-based software/solution to issue and distribute itemised payslips on secure self-employee portal. Considering its versatile features and advanced level of security of data, it is hard to believe it is free.

As in the beginning of this article, one main reason might be growing user base. But, Singapore MOM’s new requirements to mandate itemised payslips for all employers give a good momentum for this kind of service, and in the market, actually no one is offering free service.

How can it be free?

No payroll. Payroll service without payroll doesn’t sound right. But, ePayslip.com is not a payroll processing software, but only provides what you just need, a solution to issue and distribute itemised payslips. Our service captures already calculated payroll results by their current payroll software or service provider, and automatically generate 100% compliant format of itemised payslips. It also saves big risks and costs to change existing payroll software or service provider. In a nut shell, they don’t overcharge for what clients do not necessarily need, and charge for what clients really need.

Optimized know-how. Our mother company, i-admin, has started its HR & Payroll software business since 1999. Through 17 years of payroll software business for MNCs, i-admin has adopted and developed the most optimised technology and operation knowhow to cut all unnecessary costs, which makes ePayslip.com not only stable but cost-effective.

Economy of scale. Differntly from many other new-born companies jumping on the bandwagon to take advantage of mandatory itemised payslip regulation, ePaysolip.com has been running the itemised payslips servie since 2002, and processed and distributed over 5,000,000 payslips. They are not going after volume to turn them to necessarily paid users, and let their clients enjoy free service as long as they want.

Stay away from Death Spiral

SaaS is financially attractive because it can reach to the stage to enjoy an economy of scale. To get there, bigger use base is required. Through the operation, knowhow will make survivor stronger and more competitive. All in all, the key is how to get into virtuous cycle. Remain always innovative and be ready to return the maximum value continuously to the clients. Clients will eventually buy value added service, and most of cases, new coming competitors cannot easily copy and survive the value.

 

 

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