On Thursday 20th April, 2017, we witnessed the signing of the Memorandum of Understanding (MoU) between the Visual Solutions (M) Sdn Bhd, the provider of flexHR® payroll system and i-HR Consulting Sdn Bhd, a leading Payroll and HR outsourcing firm specialising in HR Insurance that protects businesses.
This MoU cements a long standing relationship between the two organisations and focuses on the next phase to deliver a differentiated and comprehensive Payroll HR outsourcing solution to businesses across Malaysia.
A business function such as payroll processing and human resources management is critical and extremely sensitive, with no tolerance for errors. Non-compliance to the law and regulations of various statutory bodies leads to unnecessary financial burdens to a business.
Growth of business will undoubtedly come with HR problems and challenges that will require correct and compliant HR documentations. Timeliness and precision is key. During a monthly payroll period Admin will run payroll, reconcile deductions and claims, prepare salary slips and comply to all statutory requirements such as: Borang A, Borang 8A and CP 39, EA and E. Additionally management will require departmental costings for accounting purposes and the list will go on. The 5-in-1 integrated solution removes the headache on Payroll and HR.
Delivering a differentiated and affordable solution to small and medium enterprises in Malaysia, i-HR Consulting Sdn. Bhd., in collaboration with Visual Solutions Sdn. (M) Bhd. brings an unprecedented 5-in-1 solution at a price of RM25 per person per month, with the following:
- End-to-end payroll processing service, including statutory handling and compliance issues with eleave, eslips, full payroll reports and all monthly and yearly statutory reporting including EA and E.
- Human Resources, Industrial Relations and Payroll advisory support – access to voice and written advisory from experienced HR consultants
- Comprehensive HR start-up kit – providing a series of automated downloadable HR document templates
- HR insurance – protecting businesses with up to MYR 1 Million against wrongful dismissal claims in the Industrial Court, including legal fees
- Continuous FREE monthly Learning & Development – through their ‘Art & Science series’ events, subscribers are provided with professional development in handling employee-related matters.
i-HR Consulting and Visual Solutions have already established a significant pipeline of opportunities and expects to service 1,500 new clients in 2017 alone. The longer term projection to 2020 is to service in excess of 20,000 SME’s of Malaysia.
iHR Consulting with it’s HR Insurance protection of up to RM 1 million for Industrial Court Cases packaged in to Payroll Outsourcing is poised to help and protect SME’s against the financial perils of Industrial Relations Court action. In 2016 SME’s Ex-Gratia Compensation for re-employment was RM 29,277,331.83, Reinstatement with Back wages RM 11,412,805, Compensation in lieu of reinstatement RM 3,251,383, Other Compensation RM 11,115,745.08 totalling RM 55,057,264.91 (Reference to January – December 2016 Source: Industrial Relation Court Malaysia. Reference : Statistik Pekerjaan & Perburuhan Siri Bil. 1/2017)
Mr. Teoh Chow Soon, the Chief Executive Officer of Visual Solutions (M) Sdn. Bhd. said, “We are extremely pleased to partner with i-HR Consulting in providing our flexHR® Cloud solution. The fact that a company with such strong roots in helping SME’s with HR chooses flexHR®; is a testament to our technology.”
“SMEs and Start-ups are a cornerstone to our economy; however they generally do not put emphasis on good human resource practices given this has traditionally been a costly affair. Some see it as a distraction that takes up a great deal of their time. More importantly, the lack of good human resource practices within the SME sector exposes them to serious financial penalties; ranging from labour department inspections to employment disputes. This is a serious risk management issue in our hand, which needs to be managed and mitigated in order to protect the SME sector” said Mr. Roy Prasad, CEO of i-HR Consulting Sdn Bhd.
The Memorandum of Understanding (MoU) signing ceremony took place during i-HR Consulting’s monthly breakfast talk (Art & Science) event on Thursday, 20th April 2017, at the Dewan Berjaya, Bukit Kiara Equestrian Club. Attended by 110 Business Leaders and Human Resource practitioners the session’s topic covered “Avoiding Constructive Dismissal” which was delivered by Mr. Prasad and Ms. Rajeswari Karupiah, a leading Industrial Relations Lawyer.
About i-HR Consulting Sdn. Bhd.
i-HR Consulting Sdn. Bhd., is a leading Malaysian-based HR Outsourcing firm founded in 2003, with the sole purpose of becoming the leading one-stop HR centre for small and medium sized companies in Malaysia. The Company has established itself as a reputable and holistic HR service provider with a proven track record, engaging more than 450 SME clientele across Malaysia; subscribing to various human resource services i.e. payroll, consultancy, advisory, HR Insurance and training.
To learn more i-HR Consulting Sdn. Bhd., visit www.ihrnet.com or call 03 2278 3500. About Visual Solutions (M) Sdn. Bhd.
Rolling its first payroll system in 1991, Visual Solutions (M) Sdn. Bhd. has established itself as a leading HR software company. Visual Solutions recognises the importance of quality support services in ensuring successful implementation of the Human Resources computerisation project. The Company is now dedicated and focused entirely on developing and implementing its Human Resources System software called flexHR®.
flexHR®, is a comprehensive suite and total integrated HR modules that offers both operational and strategic functionalities which is flexible to accommodate growth, productivity enhancements and globalization that serves the growing customers based across Asia Pacific.
To learn more about Visual Solutions (M) Sdn. Bhd., visit www.visualsolutions.com.my or call 03 7951 9000.