Digital Transformation of Payroll : Challenges and Solutions
If you are looking for the next game-changing innovation for your company’s payroll system, cloud technology, automation and global payroll strategy can help transform the operations, position you to meet the unexpected challenges and drive growth. Below mentioned are the three most common challenges businesses face today:
Business Challenge #1: Legacy Labour Model
A fixed-cost, large workforce limits the responsiveness and financial flexibility to market and customer opportunities. While the model helps with oversight and control, there are high chances that you may be missing out on the valuable opportunities of increasing efficiency, saving time, and streamlining operations.
Solution: Shift to a mosaic of labour
Scaling up or down whenever necessary with the gig workers can help you to meet the fluctuating demand easily and swiftly without increasing the overhead cost. Virtual labor pools as well as other technology advancements that connect the contingent workers with the hiring managers can make such a labour’s mosaic possible.
Source: https://www.ramco.com/blog/pay....roll/payroll-leverag
