Automation, robotic process automation and hyperautomation are key buzzwords and strategic technology trends in the global payroll space right now. They are being discussed a lot at multinational companies around the world for some very important reasons: specifically, the transformative power that automation can bring to multicountry global payroll delivery and management.
Put simply, automation capability is the game changer that global payroll processing has been waiting for. Payroll has traditionally relied on manual processes and manual data entry for payroll calculation. In an era of frankly astonishing developments in technology capability, you might have thought that such traditional methods have long since died out.
Sadly, this is not the case when it comes to global payroll-there is still a huge reliance on manual processes, even at enterprise organizations that are otherwise digitally advanced. But change is underway as global payroll professionals recognize the huge time savings and productivity gains that are associated with automating the previously manual side of payroll.
But what exactly is automation and how does it differ from hyperautomation? That is the subject of this article as we look to deep dive into the world of automation and explain how the level of automation available on the Payslip global payroll control platform is different to the standard level of automation in use elsewhere.
RPA
Let's begin with robotic process automation or RPA as it is commonly referred to. Automation is the process of using machine learning software, artificial intelligence or robotic processes to take over any repeat process workflows, often such as those involving data being entered by a human. This is a process that copies and essentially mimics what a human does, but at a much faster level and capable of handling much higher volumes or workloads.
Robotic Process Automation is a technology that configures computer software to copy the actions of a person performing a digital task manually to execute a business process. This software or ‘robot’ then becomes capable of entering and validating data as well as analyzing or interpreting data feeds. The software can also trigger system responses and alert other systems to perform tasks.
In the case of global payroll, the software could be configured to perform both the data inputs and the data file checking and validation. It could also be configured to highlight unusual activity or variances while handling mass data entry via automation. RPA can also move files and folders, copy and paste data, fill in forms and extract data for reporting purposes
Hyperautomation
Hyperautomation in payroll is taking RPA a step further and essentially looking to automate everything related to payroll processing that can be automated. It is next-level RPA and applying automation that is purpose-built for payroll and designed specifically to solve payroll task challenges that are common to all organizations processing multi-country global payroll.
While traditional automation refers to the automated completion of a repetitive task without manual intervention, hyperautomation is more about leveraging multiple automation tools that enable the intelligent, configurable automation of payroll tasks along with the ability to perform actions that require critical thinking in specific situations.
Hyperautomation is about combining advanced, intelligent automation technology and functionality to strategically automate as much of the payroll process as possible-and this is what we have achieved at Payslip.
The benefits of hyperautomation can be seen when advanced technologies and automation tools replace human actions and result in major time saving efficiencies and cost savings.
Hyperautomation in action at Payslip
Payslip hyperautomation automates processes& workflows across internal stakeholders and external payroll providers so that data flows with speed & accuracy while removing the human touchpoints that slow things down and introduce risk.
Hyperautomation is in our DNA and is core to everything we do in the platform-our goal is to automate all repeatable tasks and rules-based processes within payroll delivery. We build automation functionality from the ground up and are always looking for new and innovative ways to introduce and leverage our hyperautomation functionality in payroll. 5 key areas of focus for us are:
Workflows
End to end automated workflows for payroll operations and validations including task completions, exception handling, trigger event automation as well as automated calendar & work management.
Validations
Payslip auto checks and validates client data input plus ICP inputs as well as outputs such as bank files, payslips and general ledger files. Payslip has over 70 automated validations, which means 70 less tasks for you per payrun.
Reporting
Automated data flows facilitate real-time, self-serve reporting for bigger picture insights. Run detailed and comprehensive reports to meet a range of different reporting requirements- costs comparisons, trend analysis etc. 50+ reports including audit reports and general ledger.
Integrations
Automated integrations ensure the automation and validation of source input data from multiple sources: existing payroll systems, HCM or human resource systems, local country vendor software, benefits providers and financial accounting software.
Communications
Notifications and in system alerts are automated inside the platform-so various stakeholders in the payroll delivery process are automatically notified when an action step has happened or needs to happen.
The desire to scale up RPA and apply automation to as many tasks and processes within payroll delivery as possible is behind our hyperautomation activity in the platform. Hyperautomation at Payslip is our framework for scaling automation that builds on the success of RPA while also solving for its limitations. So, we combine hyperautomation functionality with our platform integration capabilities and this helps us to work on some previously un-automatable tasks and have them become automated too- this is what sets us apart in the market.
We look to analyze where automation could be used to improve payroll delivery and management then we go about designing and building this level of automation. Then we measure and monitor-it is an ongoing process, constantly tweaking and refining to make it better.
It is also important to recognize that hyperautomation at Payslip has nothing to do with replacing global payroll professionals. Instead, we build hyper automation to make their lives easier and free up their time so that they can focus their considerable abilities on high priority work such as reporting and analysis. We remove the laborious, time-consuming and repetitive manual data entry tasks from their day and replace them with automation-everything quickly becomes smoother, faster and more accurate.
If you would like to learn more about the hyperautomation capabilities of our global payroll control platform, then talk to a member of our team today or set up a quick tour of the platform so you can see for yourself what the platform looks like and the various parts of the global payroll delivery and management process that we automate here at Payslip.