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How can Strategic payroll integration boost your ROI in HCM

Organisations across the globe are continuously evolving to make their employees feel comfortable in their workspace. HCM majorly includes ensuring they are paid correctly and on time. Automation in payroll is helping make this possible. Software like Ramco’s Global Payroll have inbuilt algorithms that facilitate organisations in staying up-to-date with tax and regulatory changes in the various global regions under their umbrella.

Integrated with core human resources, time & attendance and expense modules, an automated payroll software considers the various laws and HCM requirements in regions across the globe. They help organisations streamline their payroll process through automation and save money. According to structure and HCM needs, organisations can deploy the payroll software in various forms: on-cloud, on-premise or as a managed service.  

Payroll integration helps create and stick to organisation-specific rules while complying with multi-country payroll requirements. It helps standardise practices and make profits. Earnings, deductions, bonuses, arrears, leave and attendance get streamlined; in sync with the business goals of the organisation. It also helps the organisation be more transparent to their employees around these crucial factors, making them feel valued and cherished. 

Manual calculations can include mistakes, a risk that's negligible in the case of payroll automation. Even the most complex ones can be done in mere seconds, saving the organisation time and effort. It is a much-needed human resources transformation for organisations trying to expand their global footprint. They no longer have to depend on Excel sheets and manual calculations to determine salaries. The payroll software requires minimal input and takes care of tricky calculations. The money saved can facilitate a better working environment for employees and optimise human resources. Payroll integration not only helps the organisation save money, but also make money.

Cloud-based operating models also help organisations prepare for flexible work realities without fearing data losses. Given the affordability of payroll integration, it helps organisations access the best in world solutions, which can be customised as per their diverse and local needs, against a global, unified backdrop.

Seamless integration across verticals helps keep data secure and easily accessible in real-time. Successfully integrated human resources and payroll system facilitates efficiency at maximising profits for the organisation. The human resource executives can simply oversee the process without being overwhelmed by the scale of work or getting involved in the mundane day to day repetitive tasks.

Reliant on multiple file types and data sources, legacy-based human resource technologies used to be a hassle. A significant amount of critical data had to be input for each pay cycle, the outcome moving into another interface for further processing. It required excess time and effort by executives and burdened the systems. With payroll integration, large, redundant datasets no longer have to be processed for each cycle.

Earlier, any fallacy in the data would require manual checks. They would have to be corrected and reproduced until the teams could detect and remove the errors. This process was a time-consuming and wasted endeavour. Payroll integration makes it easier to find and rectify mistakes, reducing the burden on the executives and making the process efficient and the results accurate.

The integrated payroll systems, such as the one by Ramco, helps clients get better control of their payroll cycles. Every executive involved in the process has an hassle-free access to the records, increasing transparency in the system. There is a scope for flexibility and better oversight, making the processes efficient and accurate. It is especially beneficial for organisations that have distributed workforce across the globe. It also enables the payroll SPOCs of globally distributed organizations get a single window for data visibility at regional or corporate level. 

Such payroll integration is also a great tool to implement the work-from-home model. It helps organisations manage human resources in a timely and secure manner, taking a workforce-first approach. The employees can access the real time information dashboard, thus becoming an integral part of the process.

Ramco Cloud Payroll Software helps organisations give their employees access to multilingual Employee Self Service. It helps employees get better access and control of the payroll cycle, removing redundant inaccuracies in the system. Such a system also helps enhance efficient transparency and trust within the organisation.

With the help of payroll integration, organisations can undertake business transformation on an enterprise-wide scale without pouring in excess finances or resources into it. It gives upper management access to operation details at the click of a button, making it easier to make well-informed decisions. Global payroll integration is an innovation that helps organisations grow manifold, inside-out. This growth in turn facilitates the creation of an intelligent ecosystem of stakeholders, making it easier for the organisation to show quick results. It could range from going to market with new, innovative products, bettering their services or driving higher engagement and retention of customers.

Global integration helps the organization transcend geographies and look at horizons in better ways. It also helps them have bigger goals while always keeping their focus on their core strength - Human Capital. Real-time connectivity can help organisations expand the scope of their goals and achieve them — all without spending too much on HCM.

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