Compensation and Benefits are at the heart of any HCM system, and Ramco Human Capital Management is no exception. Most enterprises have moved away from standardized compensation packages toward more personalized compensation. As a result, the Ramco HCM was built on a flexible SOA platform with a rule-driven payroll engine. The system can readily accommodate multi-element, multi-decimal, multi-currency, multi-payout complexity with ease. Adopted in over 34 countries, Ramco HCM can process tax and regulatory reporting requirements in nearly any locale. Ramco offers a BPO solution for payroll, based on this flexible and reliable platform.

Benefits administration can vary widely across organizations and locales. With a business rules engine at the core of the application, Ramco HCM can handle nearly any level of complexity in benefits programs. Benefit plans typically fit into categories for health, flexible spending, savings, disabilities, and life and can be managed independently. Benefits integrate seamlessly with payroll for premiums deductions, rate table information and eligibility among others.

Claims and Reimbursements are encountered by employees who travel for business as well as those who receive medical benefits and other entitlements. Business rules drive claim parameters such as pro-rata limits, documentation requirements, etc. Claims and Reimbursements integrate with both payroll and financials for administration.

Loans and Advances administers short and long term loans to employees by the company. From application to disbursement to administration and up to final recovery, Loans and Advances manages the entire process. As a rules-based application, HCM will allow enterprises to define eligibility requirements for different loan types as well as integrate to payroll for collection.

Major capabilities of Compensation & Benefits include