We know that businesses, small and big, stand to gain from outsourcing functions such as payroll, as this enables focus on core deliverables and other strategic functions. However, as our physical and digital worlds continue to blend together, we evolve towards finer, more fluid ways of conducting business. At the dawn of the internet era, Syndicating emerged as the Outsourcing of the e-business world.
Collective Solutions/Ownership: Syndication
Businesses today require customizable, mobile solutions with cross platform integration. This means truly global solutions characterized by modularity, collective owner/authorship, and seamless integration.
Such a model, with many different distribution points, creates new relationship structures and pathways. But, working with a number of third party distributors/syndicators calls for careful assessments and strategic planning in terms of data security, payments, and costs.
Comprehensive HR and Payroll Solutions
HR solutions come in all sizes and forms. For organizations operating at large scales and across geographies, management and consolidation of payroll can be quite a hassle. For example:
- Payroll inputs such as time and attendance management, health benefits, travel reimbursements, employee postings and performance appraisals need to be consolidated across a number of platforms and updated periodically.
- Payroll compliance aspects such as Provident Fund/401K and Labour Compliance Management require expertise on varying legal, state and federal legislations. Tax rules, requirements and due dates can change with time and across jurisdictions.
- Processes like new hire paperwork can also vary between countries. Tax IDs, dependent forms, passports and other documents may be required based on varying compliance requirements.
- Analytics and reporting of payroll data across systems in consistent formats can be cumbersome.
- Adherence to global regulations pertaining to data privacy and protection is crucial
These challenges necessitate a model that provides cross platform integration. A completely managed and outsourced payroll model is one option. However, a decentralized SaaS model that integrates with a larger HR system is a good alternative.
A comprehensive HR and Payroll Solution should be built on an understanding of the dynamics of syndication. Clients should have the option to pick and choose among various modules as per their needs. A holistic solution enables forward and backward integration with client ERP. In addition to pre-payroll, payroll, post-payroll functions, a good solution incorporates/facilitates workforce management and statutory compliance.
Allsec’s modular solutions help the customer choose from a range of service options, and plug and play at different touch points within existing ERP solutions. These adaptive, cloud based solutions minimize dependencies around infrastructure, maintenance and data security. Allsec’s SmartHR platform further enables workforce management through employee/manager self-service portal, role based access controls, workflows and integrated, multi-channel, employee query help desk and AI chat bots.