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Immedis Guest Blog Article | How the CIO Plays a Critical Role in Bringing Order to Global Payroll

It is not a surprise that getting global payroll right is a mission-critical activity. What might surprise you is that a significant share of the responsibility for ensuring that an organization successfully accomplishes this falls on the CIO. Why? Because much of an organization’s enterprise software ecosystem is tightly entwined with the intricacies of processing global payroll, it causes significant stress across enterprise software infrastructure every pay period. Plus, there are considerable data security and compliance risks for organizations to consider- most of which will come under the CIO’s remit.   However, there are other often-overlooked considerations. The impact on an organization and its people can be stressful too. According to The Workforce Institute at UKG, 49 % of employees will tolerate no more than one mistake or problem with their paycheck before looking for a new job—making the decision to upend their own lives and placing the unwanted pressure of creeping attrition on the employer. Their decision likely stems from the fact that, according to a 2020 survey by the […]

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Paying and Getting Paid — The Future Is Already Out of the Barn

“I want it all, and I want it now!” belted the late, great Freddie Mercury on a criminally underrated song by the rock band Queen. Was he channeling typical first world consumers and employees from some four decades into the future? He might as well have been. People these days, not all of them want it all, truly, but most seem to want whatever it is they do want, now. They expect every accommodation. Leeway and speed are what they want. They want what they buy to arrive as soon as possible. They want to pay in the easiest way available, in a way most accommodating to their needs and wants. And they want the pay they’ve earned so far, right now — not in […]

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Infographic: Outsourcing Global Payroll: Getting Ahead on Employee Experience, Data Security, and Compliance

Getting global payroll right is mission-critical, and a significant share of the responsibility for it falls on CIOs, naturally. Absent order for the enterprise software ecosystem touching global payroll, so much can go wrong. This profoundly affects an organization’s people. The infographic here delves into the specifics around outsourcing global payroll—the seven warning signs that you should do, the three major upsides for your organization, and more. Read the full Research Note here: Research Note: Outsourcing Global Payroll: The Impact on Data Security & Compliance. Read the full Research Note here: Research Note: Outsourcing Global Payroll: The Impact on Data Security & Compliance.

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Research Note: Outsourcing Global Payroll: The Impact on Data Security & Compliance

Payroll is a mission-critical activity. Personal fulfillment and career advancement are important, but for most people the main reason they go to work is for a paycheck. Get it wrong, and the ramifications can be swift and bruising. Nearly half (49 percent) of the workforce is willing to tolerate just two problems with their paycheck before beginning a new job search, according to The Workforce Institute at UKG. This is probably because 69 percent of individuals would experience financial difficulty if their paychecks were delayed for a week, according to results from a 2020 survey conducted by the American Payroll Association. It’s a phenomenon other data corroborate. Nearly four-fifths (78 percent) of the workforce lives paycheck-to-paycheck to make ends meet, according to CareerBuilder, whose findings […]

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Market Alert: Immedis Pay Reengineers the Way Companies Remit Cross-Border Payments to Employees, Tax Authorities, and Statutory Third Parties

What Happened In mid-July 2021, Immedis announced the availability of Immedis Pay, an automated solution for organizations to manage cross-border payments to their beneficiaries, including employees, tax authorities, and statutory third parties. Built on the foundation of everywhere-local expertise in global payroll, Immedis Pay gives companies local payments expertise across the globe to simplify payments, increase accuracy, and eliminate challenges with compliance. Cost savings from the use of Immedis’ network of API-connected local payment network providers and banking partners are significant. Immedis Pay currently delivers 99.98 percent error-free payments in 145 currencies across more than 200 countries. Background As part of its global payroll offering, Immedis has been expediting payments for customers since the vendor’s inception in 2016. The coincident expertise and global reach put […]

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Research Agenda: Finance Research Practice H2 2021

Companies have benefitted from rapid deployment of cloud-based ERP. “Customization” once delayed legacy implementations, but now “Low/No Code” environments enable personalization and better adaptation to unique business requirements. As AI, IoT, and other acronym-rich trends increase the pace of change, rapid system updates and increased leverage of available capabilities become more and more valuable. Putting predictive, intelligent, and mobile capabilities into the hands of front-line resources will further increase the payoff. The Financials and ERP practice at 3Sixty Insights plans to explore these and other themes over the next 12 months: Concrete vs. Abstract Finance: A New Way for Organizations to Look at ERP Enterprise Structure vs Line-of-Business Initiatives: Achieving Balance in Location of Power Suite vs Point Solutions vs Specialized Systems: Where Should Finance […]

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Tuning Up Your ERP/Finance Infrastructure

To judge the ultimate immaturity of the “Cloud” ERP/Finance solution market, look no further than the broad success of vendors offering MDM (Master Data Management) solutions. Ironically, one of the perennial leaders in the space is one of the biggest purveyors of “you only need one” ERP/Finance solutions talking out the other side of their mouth—the 800-pound gorilla that is SAP—calling into constant question whether there can ever be a single, central solution to any company’s ERP/Finance needs. This actually makes perfect sense: Even within a unicorn single-instance ERP/Finance implementation, there will always be utility in matching incoming and outcoming transactions/messages to the proverbial “Golden Record”—to/from suppliers and customers who so often represent the true source of the information contained therein. (How many times has […]

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