Tag: CRS Technologies

Artificial Intelligence (AI) is revolutionising global payroll management, making it more efficient and accurate – not only for businesses but also payroll professionals. AI isn’t replacing payroll professionals; it’s empowering them. The technology acts as a powerful partner, augmenting payroll professionals’ capabilities, enhancing their productivity and allowing them to play a more integral role in the organisation’s success.

With remote work firmly entrenched in our reality, employee self-service systems have become a game-changer, digitising and automating critical tasks to ease the administrative load on payroll and HR teams. These web or mobile-based platforms offer employees direct access to their personal HR information, enabling them to manage various aspects of their employment independently.

Increasingly dominated by cloud solutions, the global payroll and HR software market is forecast to top $61 billion by 2030. This growth reflects the shift towards cloud-based payroll and HR systems in businesses of all sizes and across industry sectors. The adoption of cloud-based systems has had a disruptive influence on the way businesses manage their payroll and HR functions.

Expanding operations across borders is becoming the norm in the modern business landscape, but with this expansion comes the challenge of managing payroll on a global scale. It’s a complex and crucial task that involves navigating diverse regulations, juggling multiple currencies and ensuring accurate payments to employees worldwide.

Is the business responsible for worker occupational health and safety during the era of work from home?

Contrary to popular belief, migrating to a digital payroll solution is not simply a case of copying and pasting data into a cloud environment. There are system-wide dependencies to consider, especially when it comes to accessing databases and other dynamic information.

Do your employees fully understand the processes behind payroll? Payroll, for many people, remains a mystery. The processes and calculations that sit behind the monthly amount that lands in the bank account are vague and complicated. Many employees find navigating the maze of benefits, healthcare and pension payments to be overwhelming and often don’t really understand why they’ve been paid more or less each month.

Payroll solutions in South Africa must be modernised to benefit from the likes of cloud computing, robotic process automation (RPA), and artificial intelligence. If companies are to effectively contend with evolving payroll legislation in the country, they need to embrace these technologies and transform into digitally driven organisations.

Risk management is defined by the identification of events, both internal and external, that can affect the organisation’s ability to achieve specific objectives and to remain compliant within specific regulations. Risk management is carefully outlined in King IV as being inseparable from the company’s strategy and sustainability.

There are regulations and rules that protect both employer and employee when it comes to costs, tools and behaviours, but these are being tested in entirely new ways with the 2020 pandemic. It’s a perfectly legitimate question for any employee to ask for financial support when they’re working from home, using their internet and electricity to do their jobs.