Explain about Workday Payroll
Workday Payroll for the US addresses the full spectrum of enterprise payroll needs. It offers the control, flexibility, and insight you need to support your unique organisation. Unified with Workday HCM Workday Payroll was designed as part of Workday Human Capital Management (HCM). A unified payroll and HCM solution helps you maximise your overall investment in Workday.
• Take advantage of Workday’s core system-of-record for employee data across HCM and payroll to manage changes for benefits, terminations, and life events.
• Give employees the ability to request time off, view payslips, and make payment elections from a unified self-service application that works on both a browser and mobile device.
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Flexibility to address unique requirements
Traditional payroll applications provide hard-coded, out-of-the-box packages that are often unable to accommodate specific business needs. Workday’s flexible and intuitive configuration supports your organisation’s advanced requirements.
• Robust calculation engine: Run payroll calculations as often as you want with Workday’s powerful calculation engine, built to handle the most complex payroll requirements. Payroll processing time is drastically reduced from hours to minutes.
• Highly configurable: Configure accumulations, balance periods, and balances according to your current calculation and reporting needs. Group employees into logical pay groups according to organisational needs.
Complete control to manage payroll Workday Payroll provides complete control over your payroll processes, data, and costs. Eliminate the pain points found in traditional systems with intuitive payroll set-up and management tools.
• Control over process: Control how gross-to-net is calculated for different types of payroll runs. Define criteria for specific earnings and deductions.
• Control over data: Quickly access pay results for any employee or period. Run common predefined reports, such as pay balance summary and pay calculation results.
• Control over cost: No more cost-prohibitive charges for reports, pay components, or calculations from service bureaus. No more mandatory upgrades from ERP providers that are costly and time-consuming for your company.
Actionable insight with payroll analytics Workday Payroll includes built-in analytics, allowing you to run reports and audits on all payroll data. Retrieve and act on payroll data immediately to make adjustments.
• Automated audits: Users can define audit criteria and create audit reports at the summary, pay group, or employee level. Set up comprehensive audits embedded into payroll results and drill into audit alerts to investigate details.
• Visibility into actual costs: Companies can now see what they are spending globally on employees. Compare payroll results across periods. Take action on a pay calculation result via a one-click report.
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Workday global payroll partner programme Global companies that require payroll solutions beyond Workday’s native payroll offerings in the US, Canada, UK, and France can take advantage of our global payroll cloud partner programme. Workday’s payroll partner programme helps to reduce the costs associated with deploying, integrating and managing third-party payroll solutions.
To make integrations easier, Workday offers pre-built integrations to partners through Cloud Connect for ThirdParty Payroll. Workday-certified partners build, offer, and maintain bidirectional integration, allowing payroll results to be displayed in Workday. Customers benefit by gaining a global view of payroll actuals from Workday, while still being able to use local payroll providers in each country that offer their desired level of service.