So, your payroll is being processed, and for the most part is running smoothly. But, do you have a clear picture for your company of exactly where that money is going? If you work in payroll, especially in global payroll, you understand that it includes much more than wages. How can your company plan for the future without knowing who gets paid for what, and how much it all costs? To quote a very famous (albeit fictional) detective:
“It is a capital mistake to theorize before one has data.” ~ Sherlock Holmes
One of iiPay’s primary competitive advantages is that we provide a cloud-based global reporting solution allowing our clients complete visibility of payroll data, in its most granular form, while providing a Business Intelligence (BI) analytics tool.
The central purpose of iiPay’s proprietary system is the consolidation of multi-region payroll data into a single reporting database, allowing our clients to efficiently construct reports to analyze data in their chosen currency and format to meet the requirements of different audiences within their company.
We don’t stop at processing the payroll. We consolidate and report on our client’s payroll data, giving them total control and visibility of their payroll — with access to their transactions. We provide a standard set of built-in reports, as well as additional reports that are custom-configured and designed with our client. That’s right, you really CAN get the payroll information you need for your company. If you can’t do that, what’s the point, right? As a global payroll professional, you don’t just need data – you need data that will bring insight.
The goal is to turn data into information, and information into insight.
~Carly Fiorina, Former CEO of HP
Our report offerings satisfy both Payroll & Global level requirements. The iiPay system supports an organization’s need for granular Payroll level reporting. For example:
- Element Breakdown (EB) – flexible feature for transactional reporting
- Change reporting – confirmation of changes
- Percentage change – transactional variance report
And at a Global level – these reports can be run across the whole or a sub-set of the organization’s payrolls. For example:
- General Ledger (GL) – the system supports the configuration of GL files that satisfy the majority of financial system requirements
- Bank files – reports on funding and treasury
- Element Breakdown – can be further configured to report summarized data
The iiPay system holds all gross-to-net pay data for each employees in the most granular forms, i.e. every payment and every deduction for every employee, each period, on every payroll. With this level of detail, and the availability of reporting that our clients have told us they want, they are able to drill down and produce a multitude of outputs from iiPay enabling in-depth analysis and meaningful reporting.
So, as you consider a global payroll provider, consider the reporting you will receive and the value you will be able to gain from that data. Will you have enough data to make the right HR decisions? Will it be the right data? And, will it bring you insights or leave you blind and deaf?
“Without big data analytics, companies are blind and deaf, wandering…like deer on a freeway.” ~Geoffrey Moore, bestselling author