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Payroll in HR Transformation| Ramco

A Unified Global Payroll Solution for Payroll Administrators, Implementation Consultants, Managers, and Employees.<br><br>https://www.ramco.com/products/payce

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Payroll in HR Transformation| Ramco

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  1. The Key to Successful HR Transformation- An Effective Global Payroll Strategy

  2. What are the major HR Transformation Objectives? Integration & Data Alignment Efficiency and Process Optimization Compliance and Risk Management Data Analytics and Insights Employee Experience and Engagement 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 TECHNOLOGY

  3. Integrated Ecosystem: HCM, Workforce Management, Payroll & Benefits SINGLE SOURCE OF TRUTH DATA SECURITY & EASE OF ACCESS PAY DISBURSEMENT EARNED WAGE ACCESS WORKFORCE ANALYTICS WORKFORCE MANAGEMENT

  4. Global Payroll Strategy: How It Benefits HR Transformation Initiative

  5. Global Payroll Strategy: What does it include? Multi-country Operations Statutory Compliance People Data & Diverse Workforce Employee Experience Next-gen Technology

  6. Multi-country Operations: Factors to keep in mind 04 03 01 01 01 01 02 02 Multiple Payroll Vendors v/s Single Payroll Provider Multiple Payroll Vendors v/s Single Payroll Provider Service Models Across Regions Seamless Employee Experience for Diverse Workforce Managing Multiple Currencies

  7. Legal and Compliance: Obeying the Law of the Land Data Privacy Regulations Labor Laws Social Securiy & Taxation • Examples: FLSA in US, GDPR in Europe, PIPL in China

  8. People Data & Diverse Workforce: Key Considerations Maintaining Accurate & Complete Employee Data for Diverse Workforce Storing Employee Data Securely & in Compliance with Data Privacy Regulations Workforce Insights by Leveraging Highly Reliable Payroll Data

  9. Enhanced Employee Experience: The Ultimate Goal for HR Transformation Timely & Accurate pay across all countries Provide information proactively in anticipation of possible queries. Faster resolution of employee queries with the use of AI based chatbots (24 hours & 365 days a year) Mobility to enable workforce with convenience of doing transactions at any time & from anywhere Employee wellness (Physical, Mental & Financial) for entire workforce across all countries

  10. Next-Gen Technology: The Catalyst for Transformation Robotic Process Automation Artificial Intelligence & Machine Learning Intelligent Chatbots Mobile Apps

  11. Ramco Global Payroll Multi-Country Payroll Core HR (Add-On) Employee Benefits Time & Attendance* 3rd Party Integrations • Org. Masters • Onboarding • Employee Data Management • Employee Movements • Compensation • Leave • Travel • Expenses • Loans & Advances • Schedule Management • Time Entry • Overtime • Workday-certified connector • Oracle HCM std. connector • Financials • Gross to Net • Back-pay • Increments • Statutory Compliance Employee Self Service Power User Hubs Workflow Reports Policy Configurator Experience Enablers Chatbots Facial Recognition Mobile App Power BI Analytics Mail It Voice Assistant * Time & Attendance is a framework for configuring client specific overtime & time entry related rules and schedule management as per client policy

  12. Building an HR & Payroll Ecosystem TIME & ATTENDANCE FINANCE ANALYTICS HCM Ramco Global Payroll CLOUD WORKFORCE MANAGEMENT

  13. Managing Compliance • 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 In-country Independent Consultants Internal Research Leading consulting firms Payroll Bureau Payroll Associations

  14. AI-based Auto Seeding Prob. Scores based on applicability for that industry vertical/ region Configuration implemented for a new customer, tested and finalized Auto-SEED Engine learns typical configurations across customers Enables Ramco Consultants with best-practice configurations Confidence scores based on frequency of the config. pattern being actively used. Implementation of the policy discussed with customer Copyright 2023 Ramco Systems Limited. Information subject to change. All rights acknowledged.

  15. Ramco’s Anomaly & Reasoning Engine Payroll Reconciliation Finds reasons for anomalies by scanning for data changes & inputs Categorizes anomalies into red/amber/ green severities Identifies all variances based on statistical analysis of historical payroll data 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 8 Red  category items to be reviewed 10,000 Employees, 800 Anomalies 752 anomalies with valid reasons (Red, Amber & Green) Reconciling 800+ variancesacross 5-6 reports within 6-8 hours is a frustrating task! 800+ variances reduced to a few true positives that need attention- in a single report

  16. Robotic Process Automation BEFORE AFTER Reduce human count with Bots Increased Manual Effort Reduce over all cost RPA No Manual Errors High Execution Time Faster Execution Copyright 2023 Ramco Systems Limited. Information subject to change. All rights acknowledged.

  17. Money Matters: The Key to Motivated Workforce

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