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Payroll in HR Transformation| Ramco.pptx
1. Copyright 2024, Ramco Systems Limited. Information subject to change. All rights acknowledged.
The Key to Successful
HR Transformation-
An Effective Global
Payroll Strategy
2. Copyright 2024, Ramco Systems Limited. Information subject to change. All rights acknowledged.
What are the major HR Transformation Objectives?
HR TRANSFORMATION OBJECTIVES
• Smooth data flow
between HR & Payroll
systems.
• Eliminates data silos,
reduces manual data
entry, and enhances
data accuracy and
consistency across
various HR functions.
Automation, Process
standardization
procedures, and
implementing self-service
options, HR teams can
achieve greater efficiency
and productivity, freeing up
time for strategic
initiatives.
Implementation of robust
processes and controls,
helps organizations
minimize compliance risks,
such as penalties and legal
issues
• Gain insights into
employee compensation,
benefits utilization,
workforce costs, and
trends.
• Support data-driven
decision-making and
strategic workforce
planning.
Ensuring accurate and
timely payroll processing,
providing self-service
options for accessing pay-
related information, and
addressing employee
inquiries promptly
Integration &
Data Alignment
Efficiency and
Process
Optimization
Compliance and
Risk Management
Data Analytics
and Insights
Employee
Experience and
Engagement
TECHNOLOGY
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Integrated Ecosystem: HCM, WorkforceManagement, Payroll & Benefits
GLOBAL
PAYROLL
HCM
FINANCE
ANALYTICS
TIME &
ATTENDANCE
TREASURY &
ON-DEMAND
PAY
CLOUD
4. Copyright 2024, Ramco Systems Limited. Information subject to change. All rights acknowledged.
Global Payroll Strategy: How It Benefits HR Transformation Initiative
Improved Compliance
• Ensure compliance with local regulations and tax laws
• Protection form penalties
• Enhanced brand reputation
Enhanced Data Accuracy
• Eliminate data entry errors & reduce data duplication
• Develop effective HR strategies
Improved Employee Experience
• Employees financial well-being
• Chatbots & Mobile Apps bringing convenience to fluid &
diverse workforce
Increased Efficiency
•HR Teams can focus on strategic tasks
•Reduction in the administrative burden of
managing multiple payroll systems and processes
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Global Payroll Strategy: What does it include?
Multi-country
Operations
Statutory
Compliance
People Data &
Diverse Workforce
Employee
Experience
Next-gen
Technology
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Multi-country Operations: Factors to keep in mind
01 02 03 04
01 02
01
01
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Legal and Compliance: Obeying the Law of the Land
• Examples: FLSA in US, GDPR in Europe, PIPL in China
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People Data & Diverse Workforce: Key Considerations
Maintaining
Accurate &
Complete
Employee Data
for Diverse
Workforce
Workforce Insights
by Leveraging
Highly Reliable
Payroll Data
Storing Employee
Data Securely & in
Compliance with
Data Privacy
Regulations
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Enhanced Employee Experience: The Ultimate Goal for HR Transformation
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Next-Gen Technology: The Catalyst for Transformation
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Ramco Global Payroll
Chatbots Mail It
Facial
Recognition
Mobile App Power BI
Analytics
Employee Self
Service Power User Hubs Reports
Workflow Policy Configurator
Voice Assistant
Time &
Attendance*
Core HR (Add-On)
Multi-Country
Payroll
3rd Party
Integrations
Employee
Benefits
• Schedule
Management
• Time Entry
• Overtime
• Gross to Net
• Back-pay
• Increments
• Statutory
Compliance
• Workday-certified
connector
• Oracle HCM std.
connector
• Financials
• Compensation
• Leave
• Travel
• Expenses
• Loans &
Advances
• Org. Masters
• Onboarding
• Employee Data
Management
• Employee
Movements
Experience Enablers
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Building an HR & Payroll Ecosystem
Ramco
Global
Payroll
CLOUD
HCM
FINANCE TIME & ATTENDANCE
ANALYTICS
WORKFORCE MANAGEMENT
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Managing Compliance
In-country
Independent
Consultants
Internal
Research
Leading
consulting
firms
Payroll
Bureau
Payroll
Associations
• Real-time updates to Payroll related statutory changes
• AI-based proactive compliance tracking
• In-product payroll rules and regulations framework
• Network of in-country service partners
• Continuous participation with payroll associations &
country authorities
‒ Global association with GPA
‒ TAPS/ APA/ DSPANZ for Australia & New
Zealand
‒ Whitelisted by authorities like ATO, IRD; certified
by LHDN and integrated with IIT China
• Global Payroll Compliance Portal:
https://campaigns.ramco.com/global-payroll-
compliance-portal
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AI-based Auto Seeding
Auto-SEED
Engine learns
typical
configurations
across customers
Enables Ramco
Consultants with
best-practice
configurations
Configuration
implemented for
a new customer,
tested and
finalized
Confidence scores
based on frequency
of the config.
pattern being
actively used.
Prob. Scores
based on
applicability for
that industry
vertical/ region
Implementation
of the policy
discussed with
customer
Copyright 2023 Ramco Systems Limited. Information subject to change. All rights acknowledged.
15. Copyright 2024, Ramco Systems Limited. Information subject to change. All rights acknowledged.
Payroll
Reconciliation
Ramco’s Anomaly &
Reasoning Engine
Reconciling 800+ variances
across 5-6 reports within
6-8 hours is a frustrating task!
The case
10,000+ employees | 6 legal entities |
800+ anomalies
The ‘classic’ way
Compare Pay registers /
Compensation / T&A inputs/ Employee
information
All 800+ anomalies manually
checked, verified and corrected
Identifies all
variances based on
statistical analysis of
historical payroll data
800+ variances reduced to a few true positives
that need attention- in a single report
Finds reasons
for anomalies by
scanning for data
changes & inputs
Categorizes
anomalies into
red/amber/ green
severities
10,000 Employees,
800 Anomalies
752 anomalies with valid
reasons (Red, Amber & Green)
8 Red
category items
to be reviewed
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Robotic Process Automation
Reduce human count
with Bots
Reduce over all cost
No Manual Errors
Faster Execution
Increased Manual
Effort
High Execution
Time
RPA
Copyright 2023 Ramco Systems Limited. Information subject to change. All rights acknowledged.
BEFORE AFTER
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Money Matters: The Key to Motivated Workforce
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Thank You
Copyright 2024, Ramco Systems Limited. Information subject to change. All rights acknowledged.
The contents and information contained in this brochure are intended for general marketing purposes only and should not be relied upon by any person as being complete or accurate. Ramco
Systems Limited, its group, employees, agents and other representatives will not accept any liability suffered or incurred by any person arising out of or in connection with any reliance on the
content of or information contained in this brochure. This limitation applies to all loss or damage of any kind, including but not limited to, compensatory, direct, indirect or consequential
damage, loss of income or profit, loss of or damage to property and claims by third party.
Editor's Notes
Ability for seamless integration
Globally payroll strategy should also involve integrating & co-existing with HR & Workforce management and Payroll & benefit ecosystem
Global payroll strategy can bring about significant benefits to HR transformation by streamlining and standardizing payroll processes across different locations and countries. By implementing a global payroll strategy, organizations can achieve greater efficiency, reduce costs, minimize errors, and ensure compliance with local regulations and tax laws.
The outcome that organizations can expect in HR transformation by implementing a global payroll strategy include:
Improved Compliance: Compliance is critical when it comes to payroll processing. A global payroll strategy helps ensure compliance with local regulations and tax laws by providing a centralized system that can automatically calculate taxes and other deductions based on the specific requirements of each location.
Enhanced Data Accuracy: A global payroll strategy can help to eliminate data entry errors, reduce duplication of data and minimize the need for manual intervention. By providing accurate and reliable data, HR teams can make better-informed decisions and develop more effective HR strategies.
Increased Efficiency: By streamlining and automating payroll processes, HR teams can save significant amounts of time and effort, allowing them to focus on more strategic tasks. A global payroll strategy can also help to reduce the administrative burden of managing multiple payroll systems and processes.
Improved Employee Experience: Accurate and timely payroll processing is essential for employee satisfaction. A global payroll strategy can help to ensure that employees are paid correctly and on time, which can improve their overall experience with the organization.
Payroll plays a crucial role in HR transformation as it is one of the most complex and time-consuming functions within HR. By implementing a global payroll strategy, organizations can standardize and streamline their payroll processes, reducing administrative burden, and improving compliance, efficiency, accuracy, and employee experience. This, in turn, enables HR teams to focus on more strategic tasks such as talent management, employee development, and retention.
Does your payroll provider ensure regulatory changes in the product – before the effective date
Foreign assets control regulations prevent U.S. persons from engaging in prohibited trade, financial transactions, and other dealings to accomplish foreign policy and national security goals.
The Office of Foreign Assets Control ("OFAC")
Workforce - or people - data is the lifeblood of all HR transformation efforts
Employee data management is a critical component of global payroll strategy. Maintaining accurate and complete employee data is essential for payroll processing and compliance. It's important to have clear processes and procedures for data collection, storage, and maintenance.
Data for all kinds of employees – factory workers, field - all these nuances must be captured.
Accurate – Single source of truth (HCM system) – data from payroll to HCM – data integrity (Data validation), Inntegration issues, data duplication. Capture data at source
Insights – one of the objectives for HR transformation – empower HR & payroll
Why he/she is getting x% of amount –clarification on the fly (empowering employee with their data) – digital empowerment. ESS efficiency- give contextual info to be consumed by employee
Provide a platform on how employee can connect with HR
Add more talking points – how payroll can contribute to employee experience (add more bullet points)
1. How has the prevalence of ancillary processes (expatriate payroll, time, and attendance, etc.,) evolved in the MCPS market in the last year? (Can address verbally)
A) Truly built for multi-country payroll transformation
1. What is the extent of integration possible with major HR platforms and the ease of implementation? Which of these are strategic partnerships and which are purely API-based?
1. How do you deal with the challenge of changing laws, compliance requirements, and data security?