To help firms assess the scale of digitization and maturity of their Global Payroll operations
Global enterprise software company focusing on Next Generation Cloud Enterprise Applications, Ramco Systems together with NelsonHall, a leading global research & analysis firm, announced the launch of Digital Payroll Maturity Assessment Tool - a free and interactive survey for multi-country organizations to analyse and map their digital payroll maturity against industry benchmark.
The online assessment tool focuses on providing free, customized assessments to help organizations gauge their global payroll processes, operations, and technology. Formulated with well-researched questions around payroll technology, operating model, automation, analytic payroll reporting capabilities and other extensive areas, the survey aims to understand the digital maturity of an organization's payroll function. The survey then provides a scorecard with a brief description, challenges, and opportunities, that can help organizations digitally transform their global payroll functions for increased productivity and reduced costs.
Categorized under 4 maturity levels - Novice, Competent, Proficient, and Expert, the survey will help companies not only assess their payroll strengths and weaknesses, but also assist them in discovering the effective ways of improving payroll processes resulting in error-free and efficient payroll systems.
"Payroll is a function which touches every employee of an organization. Efficiently managing the enterprise's largest expense is both critical as well as strategic in nature. Organizations today are looking for technology that can interpret data, help them learn from previous mistakes, strategically solve problems and make realtime decisions. We are confident the Digital Payroll Maturity Assessment will help organizations re-imagine payroll processes and achieve stronger level of payroll maturity," said Virender Aggarwal, CEO, Ramco Systems.
"We continue to see payroll increasingly included as a key element of broader HR transformation initiatives, with organizations of every size seeking to leverage the next-generation technologies that can digitize a historically complex and often highly manual process. However, many are still quite uninformed of the innovations available, the outcomes these capabilities can enable, or what a digitally mature payroll operation and user experience should look like. The Digital Payroll Maturity Assessment Tool is designed to help organizations see where they stand in relation to the industry so that they can raise their game across all areas of payroll," said Pete Tiliakos, Principal HR Technology & Services Analyst with NelsonHall.
Complete with chatbots, voice, and facial recognition-based workforce management, organizations can deploy Ramco HR with Global Payroll on-cloud, on premise or leverage as a managed service. The multi-tenant architecture with embedded intelligence and device agnostics features now serves more than 500+ clients worldwide. With innovative concepts of Artificial Intelligence & Machine learning, Context-sensitive Pop-ups and Chatbots to carry out self-service, and Voice based HR transactions on Google Assistant & Alexa, Ramco has been setting the benchmark for Innovation in this segment. With statutory compliance across 45+ countries covering ANZ, Asia (including Japan & China), Middle-East & Africa, UK and Ireland, Ramco's Global Payroll is available in English, Japanese, Mandarin, Bahasa, Thai, Malay, Arabic among others.
Shares of RAMCO SYSTEMS LTD. was last trading in BSE at Rs.137.5 as compared to the previous close of Rs. 141.9. The total number of shares traded during the day was 466 in over 87 trades.
The stock hit an intraday high of Rs. 142.5 and intraday low of 137.5. The net turnover during the day was Rs. 65031.