Payroll is rarely the first item on the boardroom agenda. As long as employees are being paid the right amount at the right time, the executive focus is almost always elsewhere. However, payroll is not just about people getting paid.
The data stored in an organization’s payroll function underpins many standard board agenda items, such as the review of management accounts. If used to its fullest, this data can be leveraged to inform more critical decisions, such as evaluating the employee costs of expanding in a particular region. Often the biggest challenge facing global companies is figuring out how to present payroll data in a way that can be visualized and appreciated by business leaders.
Many leaders and CFOs are consistently frustrated by the lack of insight into core functions like global payroll. This data should be at their fingertips, available in real-time with an intuitive dashboard (not flat PowerPoint slides) that enables executives to drill down on the fly to support whatever points they are discussing.
This is what unified, centralized, cloud-based global payroll makes possible.
With a focus on real-time data, expansive visibility, and automated data synchronization, cloud-based payroll solutions deliver smarter, simpler reporting and up-to-the-minute information. With data stored online rather than just on-premise, these solutions can pull in data from multiple sources and present it in a live executive dashboard that’s accessible to key stakeholders from anywhere in the world.
In this comprehensive report, you’ll discover how companies can improve the quality of their underlying data, both for the benefit of their employees, the CFO’s office, and the board:
- Further the integration of Payroll and HR
- Establish a data governance model between Finance and HR
- Enable self-service for employees
- Consolidate payroll systems and vendors
By embracing cloud technology, CFOs can consolidate all payroll data across countries, integrate it with existing HR and business systems, and produce a single view of deep, accurate employee insight.
To learn more, download the full report now: Delivering on the Promise of Real-Time Insight for CFOs.