Aspire, the all-in-one finance platform for modern businesses, has unveiled a major upgrade to its payroll capabilities as part of its broader mission to remove operational friction for entrepreneurs.
To help businesses reinvest more of their revenue back into growth, Aspire has eliminated local payroll transfer fees and reduced FX fees, making cross-border payroll more cost-efficient for companies operating across markets. Businesses can also pay CPF contributions directly through Aspire, enabling smoother compliance processes.Â
Traditionally, businesses in Singapore incurred fees of S$0.20 to S$0.50 per local payroll transfer, in addition to higher charges for international transactions with overseas employees or vendors. Recognising the impact of these costs on growing businesses, Aspire has eliminated local payroll transfer fees entirely, and reduced its FX fees to better support companies with cross-border teams and growing international footprints.Â
Beyond cost savings, the upgraded payroll features address one of the biggest pain points for employers: repetitive, error-prone administrative work. Employers can now store employee information once and seamlessly execute recurring payroll runs: whether for individuals, specific groups, or full teams. The system adapts into any payroll workflow, with flexibility to pay salaries and contractors directly through Aspire or import payroll files from software such as Talenox, HReasily, or Payboy. To further support compliance and security, Aspire ensures all payroll information remains confidential. Employers can restrict salary data access to only selected team members, protecting sensitive information and safeguarding employee trust.
âBusiness finance should enable growth, not get in the way of it,â says Andrea Baronchelli, CEO and Co-Founder of Aspire. âPayroll is one of the most critical yet resource-intensive processes for businesses. By removing fees and simplifying workflows, weâre helping companies free up time and money that can be reinvested in growth. These enhancements reflect our commitment to building a financial platform that not only powers business transactions but also reduces friction in essential operations.âÂ
The latest enhancements reflect Aspireâs ongoing commitment to building a financial platform that supports modern businesses as they scale. By streamlining essential functions such as payroll, accounting, Aspire enables founders to reinvest time, money and energy into growing their businesses.
Frequently Asked Questions
.png)
.png)