The payroll process is essential for any organization that has collaborators, and its proper execution is crucial to avoid different problems; however, it is a process that becomes progressively complex when considering all the steps that make up this process, from the entry of information to the sending of the request for payment to the banks and the generation of the accounting entry, all affected by factors such as legal requirements. , the type of employee, the line of business and endless other possibilities.
To simplify this complex task, Veritas Prime together with SAP developed PMC, a Localized Payroll model that, through a shared cloud serviceembodies the best practices that are have in the human resources processes, contemplated all the steps that a company needs to correctly and optimally carry out its payroll process, and automating all these processes, also covering the particularities that are ad hoc to the business, whether for legal issues, category, etc.
the 88% of global organizations that have a global payroll strategy or plan to develop one (40% increase from 2018)
Just 23 % of organizations keep track of HR transactions, though it is commonly cited as a top reason for payroll issues
The 67 % of organizations identify technology limitations and data quality as the biggest challenge in payroll processing.
“2021 Deloitte Payroll Benchmarking, Deloitte Development LLC, 2020.
The Veritas Prime Localized Payroll Model is based on the best practices compiled by consultants with extensive experience in payroll implementation in different areas, has been subjected to a strict quality control process and applied in various implementations, this allows us to guarantee our clients legal compliance in their payroll process, a correct calculation in the payment of all their workers, thus being able to eliminate reprocessing times and generating time efficiency. This has guaranteed that the implementation experience we have had with our clients is successful, both in terms of compliance with the date and also in the expectations of the users, where the change controls have had less impact, in addition, our model has tools that facilitate better results in each phase of the Project, this added to the deep knowledge of the configuration and the processes of our consultants.All this is reflected in the implementations that we have carried out in the USA, Canada, UK, and soon, Peru.
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