In Moving Away From Manual Payroll Processing, I looked at how technology and our expectations post-Covid are changing how we approach payroll processing. The benefits of automating include
- Fewer errors and mistakes
- Reduced processing time and costs of manual labor
- Better knowledge and insight
- Real–time change and adaptability to business and market need- something we are all very familiar with now due to the past 18 months.
- Improved working experience
- A one-stop, end-to-end solution.
What’s so exciting is that not only is technology improving the way we work, it is also undergoing massive change, making it easier to manipulate and work with. Organizations can now take advantage of microservices architecture and infrastructure to make them way more scalable and flexible than the monolithic platform of old. A key example of this is the phenomenal growth enjoyed by Netflix, a pioneer in the field of microservices and microservices resilience.
We’ve also witnessed massive growth in integration technologies such as integration engines, making it easier to merge systems such as payroll and HCM. Now the HR data that resides in your HCM can flow seamlessly into payroll and help with D&I initiatives and other workforce analytics.
What I am enjoying most of all is the shift in how we can collect and utilize data; there are now incredible advances that make data even more valuable than before. We’ve rules engines enabling the creation, management, and deployment of mathematical formulas and algorithms near real-time and powerful indexing engines that allow searching and accessing past and present data in real-time. Although exciting in themselves, they are hugely advantageous to payroll, giving it the insights and data power to affect real business change and improve outcomes across the organization. All with minimal effort and yet has the potential to elevate payroll within your organization.
Robotic Process Automation (RPA)
When talking about technology, one of the most frequent questions is about RPA. Let’s start by breaking it down into the simplest of terms- RPA takes everyday manual tasks and automates them. It can refer to something as simple as Excel Macros or as advanced as a workflow across multiple systems.
Here are a few examples of how Immedis uses RPA to improve efficiencies in payroll processing.
- Improve accuracy
Immedis Perpetual Validation we use it to continuously check and validate the employee information to ensure that the required data is present and correct and the employee will get paid.
- Integrate with HCMs
We use it with APIs or connectors to work with in-country partners and HCM like Workday, UKG, Ceridian, and SAP to allow data flow between these systems.
- Allow changes
With RPA, our customers can make changes at stages in the automated process to make a manual adjustment – which, as we all know, happens a lot in payroll.
- Generate reports
We use RPA so that customers have access to a range of reports from variance analysis to gender and age gap across the organization.
Artificial Intelligence (AI)
AI is different from RPA because it is more directed at identifying patterns or extracting information from a dataset. For example, with AI, you can review your global payrolls and highlight anomalies or trends that you may have been unaware of or knew but needed the data to prove. To work, AI needs consistent and clean data that you train and model to align with your needs.
How Immedis uses AI to assist payroll professionals in their job
- Provide better analytics
Detect payroll abnormalities – what happens with your CFO alerts you to the fact that payroll costs more this month than in previous months? How long would it take to sift through all the payrolls to identify where and why there is a difference? Using AI, our platform can generate variance reports, that when you drill down, can show you that the reason for the change resulted from one employee in Brazil who was paid a large amount for overtime.
- Improve the Immedis Platform experience
There will always be a level of inputting in payroll. We understand that, but we also want to help reduce the effort. We can offer auto-completion and user input suggestions based on what you are entering and the screen you are using with AI. We also can show the most relevant information to you- again to make your job easier.
- Assist with integrations
Merging systems is no easy task, and the complexities involved- and getting the correct data transferred is central to the task’s success. As Dave Muldoon, our Director of Solution Architecture and Integration, always reminds us, having the correct data is essential, making it critical to use the right connections from the outset. We use AI to select the best connectors to use, the quality of the dataset, and analyze the quality of ingested data.
Every country has different payroll requirements- some want employees to identify their religion, others the expected birth date of a child. Failure to provide this information can mean a fine, and an employee is incorrectly paid. With AI, we can ensure that you have all the necessary information required to process payroll. Take a look at how it works.
Many technology designs today share a goal of making life easier- ordering food or a taxi, watching a movie when you want in the comfort of your own home. We are looking to apply these principles to the Immedis Platform so that our technology assists payroll professionals in completing and delivering their payrolls and elevating the function of payroll within the organization.
To hear more about the role of technology in payroll, please join me on Thursday, November 11th, for my presentation on Future Payroll Tech.Back to all posts