Ramco Systems

  We usually associate AI with streamlined processes, enhanced efficiency, and accuracy. But is there a limit? What about those less-explored capabilities of AI, tapping which could take your payroll operations and compliance a notch higher? Discover here how you could optimize your global  payroll management  by utilizing those capabilities. Source Link

  From an employee’s perspective, payroll processing may seem like a simple process. The employees’ only concern is whether they are paid the right amount at the right time. However, only payroll managers understand the complexity involved in payroll processing.  Source Link

  Payroll   automation system has become one of the most important cogs enabling smooth functioning of any company’s payroll.  Payroll  automation witnessed a high amount of investment during the beginning of the pandemic as the scope of remote work had increased by many folds. With the legal and moral obligations coming into the picture gradually, several disputes are being successfully fixed by the payroll modernization processes. This has paved the way for reduced costs and promoted better corporate strategies. Source Link

  Our life entails family, friends, career, hobbies, and health. Our work has a huge impact on our life. As an employee, we have seen employers attract and retain talent through physical, mental, spiritual, and professional programs. This included benefits like medical insurance, fitness camps, access to mental coach, learning and development programs for employees and many more. Last 2.5 years and the pandemic has changed this landscape and brought financial wellness in forefront of all. Our financial wellbeing is the heartbeat for a happy life. Source Link

  According to a   recent survey by Harvard Business Review , CEOs of large companies projected that in the next decade 40% of the value their companies created would come from entering new markets and launching new business models.  While expanding into new and emerging markets brings a lot of business benefits, there are also a set of challenges that companies may encounter in this journey. Source Link

  As per PwC’s Digital Transformation Survey 2022,   96%   of the HR leaders believe in HR role as change agents, employee experience designers and talent developers.  The survey also highlights that contribution of HR professionals in a company’s digital transformation goes far beyond just digitizing the HR function. As employees today deal with the digital disruptions, 57% of the HR leaders believe that upskilling is becoming important while 49% believe that a changing culture and mindset is becoming important. Still, only one out of four leaders have a well-defined   HR digital transformation   strategy, which is a small number. Source Link

  AI and ML boost business productivity through several ways such as: process automation, data analysis, personalized customer experiences, fraud detection, NLP-powered chatbots and much more. These technologies revolutionize decision-making, improve efficiency, and deliver value across industries. The recently published World Economic Forum's  Future of Jobs report  suggests that the broader labor market shift induced by AI and automation will create 69 million new jobs in fields such as data analytics, climate change and environmental management technologies, and encryption and cybersecurity. This report highlights the transformative power of AI, opening up new avenues for human potential and driving innovation across various industries. One such area that benefits from AI and ML is payroll management. Source Link

  In recent years, New Zealand has been tagged as one of the countries with the most globalized economies. One of the key reasons for this tag is the rising number of business establishments in different sectors.  In New Zealand, whether businesses employ one person or one hundred people, the same rule applies when it comes to payroll –  The employers are responsible for withholding income taxes, Kiwi Saver contributions from employee’s pay. They also need to pay the Employer Superannuation Contribution Tax (ESCT) on all employer contributions. Source Link

  The world we live in is interconnected and we cannot deny the impact of global instances in our daily lives. Boundaries are blurred and businesses operate on a global scale, expanding or outsourcing work to different countries. Source Link :   https://www.ramco.com/blog/payroll/thriving-through-payroll-challenges-strategies-for-success-in-uncertain-times

  In today's dynamic business landscape, technological advancements have become catalysts for growth and success across industries.   Source Link :   https://www.ramco.com/blog/payroll/the-future-of-payroll-management-embracing-technology-for-growth-and-success

  Australia's warehousing space within   third-party logistics   (3PL) is transforming significantly. As the industry demands evolve and businesses strive to optimize their supply chains, 3PL players are opening new warehouse facilities nationwide.  Source Link :  https://www.ramco.com/blog/logistics/the-overhaul-of-third-party-logistics-warehousing-in-australia-embracing-modernization-and-growth-opportunities

  In the early stages of the electric vertical take-off and landing (eVTOL) industry, there were concerns that this revolutionary mode of transportation would overshadow and potentially replace traditional helicopters.   Source Link :   https://www.ramco.com/blog/aviation/embracing-collaboration-how-the-heli-industry-and-evtol-industry-are-shaping-the-future-together