FlowAccount, one of many leading startups in Beacon VC’s portfolio, has recently launched an online payroll service aiming to empower Thai SMEs with more robust HR solutions. FlowPayroll is integrated with Kasikornbank’s K-Cash Connect Plus and helps entrepreneurs and small business owners seamlessly manage their HR headaches remotely, anywhere and anytime. The free trial period starts now.
Kridsada Chutinaton, co-founder of FlowAccount, says COVID-19 forces business owners to pay deeper attention to cost-saving measures and ways to maintain liquidity. These business owners are also becoming more hands-on with day-to-day business operations from sales management, marketing, accounting, to payroll management. The rapid increase in the number of tasks that the owners have to manage drives stronger demand for remote business management tools.
Payroll management, the universal headache for business owners
Even the smallest businesses require payroll management. Without an in-house accountant or human resources department, this task automatically falls to business owners. Every month, business owners must handle sensitive and complicated salary information, while trying hard to meet monthly deadlines. However, there aren’t any existing low-cost tools in the market that can help business owners manage payroll in a reliable and time-efficient fashion.
“Many business owners open up a spreadsheet, type in employee names, and plug in some formulas to calculate social contributions and taxes. They’ll do transfers online to their employees, one by one. Some of them might even drive over to their bank to make the transfers,” says Kridsada Chutinaton, co-founder of FlowAccount. “They spend several hours a month on this and they still aren’t confident that their final figures are accurate.”
“Most of our customers are new generation entrepreneurs who prefer to use online tools,” Chutinaton continues. “And as business owners, running their payroll is a headache. We developed our online payroll solution, FlowPayroll, in response to this. It makes calculations in essential salary items, generates important documents, and can easily be linked with online bank accounts to make salary payments” which align with Kasikornbank’s objective to empower Thai SMEs. At present, over 10,000 businesses currently use FlowPayroll to pay over 70,000 employees.
For Kasikornbank’s customers using FlowPayroll, we offer a special privileges waiving initial fee and providing a free secure pass, also 30-day free-trials are available at https://flowpayroll.co. For more information, call +662026898 (Thai and English).