AUSTIN, Texas, Sept. 28, 2021 /PRNewswire/ -- Oracle today
announced a new payroll solution that will help organizations,
starting with Intragovernmental and Nongovernmental organizations
(IGOs and NGOs), navigate complex pay rules and policies to
efficiently pay any employee, anywhere, in any currency. Part of
Oracle Fusion Cloud Human Capital Management (HCM), Oracle Payroll
Core is a flexible payroll management solution that enables
organizations to easily configure payroll to meet both local and
international pay rules in a single system. It allows organizations
to meet unique business requirements not addressed with traditional
payroll solutions.
Traditional payroll solutions are often designed to meet
specific country pay rules, but lack the flexibility to manage
international pay rules required for organizations like IGOs and
NGOs. These organizations manage different pay structures for
employees working around the world. For example, they are often not
subject to local pay rules like taxes, overtime, or minimum wage
but they must adhere to unique international pay practices such as
post management and multi-currency. In addition, as some countries
don't have complex payroll calculations for social insurance and
other taxes to consider, organizations are often required to spend
time and resources calculating payroll manually, which increases
the likelihood of errors.
Oracle Payroll Core will allow organizations, starting with IGOs
and NGOs, to easily configure a payroll system that meets unique
organizational needs and pay their workforce in any location.
Natively integrated into Oracle Cloud HCM, Oracle Payroll Core can
be configured to automatically calculate payroll according to
international or local pay rules, using the most up-to-date
information about an employee. In addition, by analyzing payroll
data alongside other HR data such as skills, demographics, and
performance information, Oracle Payroll Core helps organizations
gain the insights needed to make more strategic workforce
decisions.
With Oracle Payroll Core, organizations will benefit from:
- Flexible Payroll: Organizations can easily comply with
any combination of international and local pay rules by configuring
their payroll calculations to support diverse employee needs
regardless of location. IGOs and NGOs can even complete complex
payroll operations such as splitting pay across multiple forms of
currency so employees can keep savings in their home currency,
while paying for local expenses where they are stationed.
- Simplified Processes: Organizations can use a single
payroll solution to support their workforce worldwide. In addition,
they can benefit from features in Oracle Cloud HCM to automatically
add new hires to payroll and validate data to help ensure payroll
accuracy.
- A More Empowered Workforce: Organizations can save time
and resources by allowing employees to make changes to their
personal information using employee self-service, which alleviates
tedious manual processes. This helps employees focus on strategic
priorities and meaningful work.
"Oracle Payroll Core will deliver on our vision to help our
customers quickly and easily pay their employees anywhere around
the globe. IGOs and NGOs conduct lifesaving work and their
employees are often ready to uproot their families for the greater
good of the global population," said Yvette
Cameron, senior vice president, Oracle Cloud HCM. "Complex
and tedious payroll processes take time and resources away from
these organizations that could be better spent on the critical
services they provide. With Oracle Payroll Core, we are helping
these organizations take advantage of the cloud to gain the
flexibility and ease of use they need to design payroll processes
that meet their unique needs."
Oracle Payroll Core is the latest addition to the comprehensive
payroll capabilities within Oracle Cloud HCM. The payroll
capabilities within Oracle Cloud HCM support diverse requirements
across organizations, workers, and industries to provide efficient,
compliant, and configurable global payroll solutions. In addition,
Oracle Cloud HCM enables customers to leverage predefined
integrations with their payroll providers to further reduce
complexity and cost.
See here for more information about Oracle Payroll:
https://www.oracle.com/human-capital-management/payroll/
See here for more information about how payroll software can
help your business:
https://www.oracle.com/human-capital-management/payroll/what-is-payroll-software/
About Oracle
Oracle offers integrated suites of applications plus secure,
autonomous infrastructure in the Oracle Cloud. For more information
about Oracle (NYSE: ORCL), please visit us at oracle.com.
Trademarks
Oracle, Java, and MySQL are registered trademarks of Oracle
Corporation.
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SOURCE Oracle