The HR function is being buffeted by change, with powerful economic, demographic, political, and technological trends driving a fundamental shift in the way we do business. These diverse changes are intensifying the need for enterprise HR to be agile in dealing with their most importance source of competitive advantage – their talent. Though transactional in nature, payroll touches every single employee, and thus can significantly contribute to – or detract from – an employee’s experience, productivity, and retention. In fact, given the pace of change and the significant potential impact of payroll, enterprises must step forward and demand next-generation value from payroll services.
Next-generation digital technologies, such as analytics, automation, and Artificial Intelligence (AI), in particular, will be pivotal in the transformation of payroll. The report focusses on how enterprises can leverage these technologies to not only improve payroll efficiency, but also gain advantage from payroll data. The report also examines how upcoming digital technologies, such as blockchain, can be utilized to reimagine the entirety of the payroll process. The report also offers vital best practices for enterprises as they consider this transformation.
