Moving Away From Manual Payroll Processing

Over the past 18 months, we have experienced a profound change in both our personal and professional lives. Along with restrictions and the wearing of face masks, one of the universal impacts of the pandemic was how it shattered old paradigms about how we work. For large volumes of people, the transition to working from home was the single most significant shift or evolution in their work style in perhaps their career. And it led people to wonder if this, their home, is to become their workplace for the rest of their life.

However, it wasn’t just the transition to the home office that people are coming to terms with- there is also the impact of technology on their jobs. Many employees are starting to reflect on their professional value and are no longer content with performing monotonous and repetitive tasks when they can be automated. This is particularly relevant to the payroll industry, where many organizations still rely heavily on labor-intensive manual activities. Research from Deloitte shows us that global payroll professionals say that manually entering or loading inputs is the most time-consuming aspect of processing each payroll. More than 25% of those surveyed indicated that their payroll staff spends the most time running payroll (with reconciliation, audits, controls, and data entry not far behind), all of which are still largely manual operations.

How Immedis Plans to Reduce Manual Payroll Processing

Immedis understands the challenges global organizations face in managing payroll for employees in different continents, countries, and even regions. We aim to change the status quo in the payroll processing workflow through integration and automation technologies designed to free employees from repetitive transactions.

Automation Highlights of the Immedis Platform

• By introducing automation across a significant percentage of the payroll inputs, validating this data as it is entered pre-processing, and then automating the downstream aspect, we eliminate the need for time-consuming manual uploads and file exchanges, increasing accuracy and ensuring compliance. It’s why Immedis’ first-time-right metric is 99%.
• Using Perpetual Validation, the Immedis Platform automatically highlights any gaps in employee payroll data that impact the payroll run, allowing organizations to update the information required and avoid situations where employees are paid incorrectly or not at all.
• With our Employee Self-Service capabilities, payroll administrative tasks such as payslip access and bank details maintenance can now be completed by employees removing manual effort from Payroll and HR teams.
• Global leave and absence management frameworks are pre-configured and give clear sight of in-country field level payroll processing requirements. Again, removing this task from payroll teams and freeing them up to concrete on other areas.
• Country specific information functionality means all data points required are fully managed within the system. Payroll teams no longer need to track and update their systems and processes when employment or taxation legislation changes.
• Automate payments, the final stage in payroll, with Immedis Pay. With multiple funding options available to suit individual business needs, Immedis ensures timely, compliant payment of employees, local authorities, and other third parties. The Immedis Platform uses existing Immedis banking and payment partner integrations to deliver transactions to 200 countries globally in 145+ different currencies from a centrally or regionally sourced funding model.

Immedis’ Approach to Technology is Different

Technology is constantly evolving. Framework level technologies were generic, requiring a lot of customization and development, but that has changed significantly in the last decade. Modern technologies like RulesEngine, compute engine, and reference data management (MDM) make it much easier for businesses to be agile and nimble when deploying applications and the business logic behind them-saving development costs, making businesses highly agile and enabling faster scalability. We want to make sure that international payroll benefits from this and that it translates to improved efficiencies across the entire end-to-end payroll process.

In addition to delivering cutting-edge technological products and services, we also leverage best-in-class world-leading delivery methodologies, governance, and tooling within our software delivery lifecycle. A lifecycle that includes our product owners, business analysts, designer, architects, technology lead, develops, data scientists, infrastructure, and critically customer feedback, all coming together working as a team to deliver every feature, new and old, as our users see today. Each meticulously thought out, refined, designed, coded, and deployed to save precious seconds for our users.

The advances in technology and our constant reviews, evaluations, and updates to the platform means that we can continue our journey to touchless global payroll, and optimizing the payroll process.

To hear more about how technology is changing payroll, please join me for my session on demystifying emerging technology at the Strategic Global Payroll Summit.