The Future of Payroll Management: Compliance, Technology, and Analytics

Source: https://www.ramco.com/blog/payroll/the-future-of-payroll-management-embracing-technology-for-growth-and-success

Transcript

1. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 1
2. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 2 The Future of Payroll Management: Compliance, Technology, and Analytics
3. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 3 Businesses across all geographies expect their payroll in future to be “Scalable”, “Resilient” and “Agile” Agility, scalability, flexibility with harmonized processes Active contribution to business outcomes Resilience, enhanced compliance & productivity with lower risk Exponential (rather than incremental) cost efficiencies Superior stakeholder experience Key value propositions of future payroll Source: Everest group
4. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 4 COMPLIANCE: Obeying the Law of the Land • Examples: FLSA in US, GDPR in Europe, PIPL in China
5. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 5 Managing Compliance  Real-time updates to Payroll related statutory changes  Visibility through Compliance Portals  AI-based proactive compliance tracking  In-product payroll rules and regulations framework Payroll Service provider network  Network of in-country service partners  Continuous participation with payroll associations & country authorities  Alliance with all the Global Payroll Associations In- country Independe nt Consultan ts Internal Research powered by AI Leading consulting firms COMPLIANCE TEAM Payroll Associatio ns
6. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 6 • Analyzes vast compliance directives for actionable insights • Constantly tracks and interprets global legislative changes in real time • Enhances risk management, ensuring 100% compliance HOW WILL GEN AI HELP? • Automates continuous monitoring of global compliance changes • Provides real time guidance and insights • Suggests optimal next actions based on emerging compliance requirements • Updates tables/calculations in payroll platforms COMPLIANCE: How does AI help? HOW DOES AI HELP? Source: Artificial Intelligence: in the golden age of payroll, an e-book by Pete A. Tiliakos
7. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 7 90K + Employee s 1300 + Pay elements 110M + Pay Records 30 min Process Time Design Thinking Enriched User Experience Architecture Model and Event Driven Compute AI Driven, Serverless, Distributed & In-memory Low Code No Code Intuitive Rule And Process Engine TECHNOLOGY : Exponential Efficiencies
8. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 8 TECHNOLOGY : Rapid Implementation
9. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 9 TECHNOLOGY : Superior stakeholder experience
10. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 10 PAST • Static & Process Driven • Focused on manual effort • Focused on reactive reporting • Simple back-office processor FUTURE • Automated, Augmented & Intelligent • Agility oriented, Insight driven • Centre of expertise • Strategic advisor to business TECHNOLOGY : AI & ML FROM MANUAL TO ‘INTELLIGENT’ Source: Artificial Intelligence: in the golden age of payroll, an e-book by Pete A. Tiliakos
11. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 11 PAYROLL DATA •Is my payroll data accurate? Is my payroll data compliant with all updated rules & regulations? Are there any anomalies in my payroll data? •What’s the exact cause of the anomalies? •Are there correlations between attrition rate, type of work , schedules, overtime, etc.? •Is there a wage disparity at certain levels? Is there something I should do to ensure financial well being of employees? •Can I predict if an employee is reaching burnout levels (overtime hours, number of direct reports, etc.)? Data-driven Decisions for Payroll professionals
12. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 12 ARTIFICIAL INTELLIGENCE & MACHINE LEARNING EMPOWER data-driven decision-making and enhance operational efficiency ANALYZE vast amounts of HR data to identify patterns, anomalies, and insights and improve HR processes and outcome IDENTIFY anomalies automatically in payroll management through AI and ML algorithms PROVIDE reasons for anomalies, personalized employee experiences, tailor benefits, and services based on individual preferences and needs BOOST employee self-service with AI-powered chatbots and virtual assistants enhance by providing quick and accurate responses to HR- related queries, improving employee engagement and satisfaction
13. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 13 AI + DATA DRIVEN DECISIONS = “AGILE BUSINESS” Responsi ve Employee Centrici ty Engaged Culture Value- based Deliver y Flexible Operatio ns People- first Leadersh ip BUSINESS AGILITY AI-driven insights to personalize and adapt HR practices to the unique needs of employees AI-driven algorithms anticipate shifts in employee sentiment, enabling proactive interventions to enhance motivation and commitment AI empowers HR teams to design personalized experiences, from recruitment to performance management AI's predictive insights and automation capabilities help HR swiftly adjust workforce allocation, skill development initiatives, and performance evaluations AI empowers leaders to make employee-centric decisions leading to a shift from top-down management to empathetic and adaptable guidance.
14. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 14 WITHOUT DATA VISUALIZATION WITH DATA VISUALIZATION ANALYTICS : Power of Data Visualization
15. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 15 ANALYTICS : Powerful insights
16. Copyright 2025, Ramco Systems Limited. Information subject to change. All rights acknowledged. 16 What’s next for payroll? Transform payroll into strategic enabler Lean into augmentation by leveraging AI driven insights for improved efficiency and insights Embrace advanced technologies for payroll enhancement Curate valuable insights and use them to tell compelling stories Emphasize practitioners' skills like analytic thinking, emotional intelligence, , adaptability Align payroll insights with broader operational goals and for enhanced outcomes Source: Artificial Intelligence: in the golden age of payroll, an e-book by Pete A. Tiliakos
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