In the era of globalization, the game-changer that spells success for any HCM solution is its payroll management capabilities across geographies. With organizations expanding beyond the boundaries of their standard workplace infrastructures and the contingent workforce becoming strong contenders within businesses, managing a harmonious payroll system and providing employees with a seamless experience have become quite a challenge.
The hurdles on the road to global standardization of payroll are plenty:
Integrating payroll functionalities across different zones despite disparity in currencies, regulations, contractual requirements, and local practices
Ensuring a transparent payroll process
Making real-time information easily available to employees
Managing the exponential costs delivering a comprehensive, yet cohesive, solution
Ramco proactively innovated & invested in determining the potential of their HCM solution and dedicated their resources to find a way out of the global payroll maze. They zeroed in on the multi-country payroll platform (MCPP) as the perfect answer.
Ramco invested in creating an automated, employee-oriented system providing global payroll coverage. The result was Ramco's HCM and global payroll solution backed by time and attendance. This humongous effort has been recognized by Everest Group in its first-ever MCPP assessment, which designated Ramco as an Achiever in its report. Download the Everest MCPP report here.
What makes Ramco an achiever in the MCPP arena?
With many players establishing their presence in the competitive MCPP scenario, many differentiators make a crucial impact:
Ability to consolidate variances across countries: Widening the scope of integrating payroll variances across countries increases the global coverage of the platform
An integrated suite of capabilities: Multiple payroll functionalities, including time and attendance, seamlessly sewn together into the HCM fabric deliver a strong global end-to-end solution
Robust platform: Ramco VirtualWorks serves as a sturdy platform to configure all the payroll functionalities
Intuitive user interface: A multidimensional, customizable dashboard provides a holistic overview of the payroll operations across geographies, which enables dynamic management of payroll functions
Employee-oriented functionalities: Mail bots is one of the most employee-friendly initiatives that enables email-based transactional query resolution through natural language processing. In addition, the flexibility provided by the system, timely alerts, and ease of shifting work locations without the need for re-induction at the new location are some of the features that provide exemplary employee support
Data reporting and insights: Real-time data capture, analytics, and insights delivery provide effective and timely information to employees in terms of patterns, trends, and forecasts
On-cloud or on-premises: Cloud-based and on-premises deployment provides extensive flexibility and accessibility in real time across the globe
Mobility: Interactive support across mobile apps provide employees anytime, anywhere access to critical information
Regulatory compliance: Pre-payroll processing audits ensure that all country-specific and standard compliance requirements are met
MCPP indeed delivers the crucial technology-empowered backup that bolsters Ramco's HCM solution to provide seamless payroll functionality across the globe. With continued technological innovations in this arena, MCPP has just revealed the tip of its iceberg of functionalities.
Ritvik heads the Payroll Product in Ramco Systems. Skilled in creating business Strategy, operational excellence, Business Process, Ritvik brings deep industry expertise on the table. He is an alumnus from Asian Institute of Management.