NEW YORK, June 28, 2021 /PRNewswire/ -- Ernst & Young LLP (EYUS) announced today the official launch of new technology to support the global EY Payroll Operate service, a managed payroll service for companies at all stages of business, ranging from startups to multinationals. The service uses the new technology to help companies streamline global payroll processes, provide better controls and facilitate continuous compliance, while reducing costs and improving the user experience.
Leveraging the vast EY global network in more than 150 countries, companies can now connect payroll to mobility, people advisory, finance, tax and legal services. By investing in automation, artificial intelligence ("AI") and machine learning, the EY organization now has a proprietary technology component to its payroll managed services delivery. Specifically, the EY One Global Data Model provides data integration, ingestion, controls, reporting and insights for clients' payrolls in all countries. As companies look to transition digital payroll delivery, eliminating multiple vendors and vendor aggregators, the EY Global Data model can help provide all these processes under a singular platform.
"Volatility, uncertainty and simply the significant turnabout in how and where we work, stemming from the pandemic, has fast-tracked this shift into what we've been calling the future of work," said Sheri Sullivan, EY Global and EY Americas Payroll Operate Leader. "The varied and nuanced needs of businesses' most important asset — their people — has presented a unique opportunity for HR technology to provide real-time guidance to businesses. Amid a fast-changing employment and tax legislation environment, companies around the world are seeking true continuity, and we are seeing more and more startups with a transformed payroll solution."
More than 55% of companies cite global regulatory compliance linked to employee mobility as the "most complex" aspect of globalized compliance. EY Payroll Operate's new technology, EY Interact, allows organizations to access real-time reporting, analytics and payroll controls to check each production, run, review discrepancies and anomalies, and even use the data to add organizational value such as attrition prediction, gender reporting and equality. Additionally, this new technology has built-in governance and continuous compliance that is agile enough to keep pace with changes in the employee and worker landscape.
Employees will experience an immediate benefit with access to EY Interact, a global mobile app that provides pay slips, tax documents, personalized reports and an AI chatbot to help answer questions in over 48 languages. The app also includes the specific regulatory required features for specific countries, helping to take employee communication and unique user experiences to the next level.
The announcement follows a successful worldwide Analyst Day, held virtually across North America, Europe, the Middle East, India and Africa (EMEIA) and Asia-Pacific on May 26.
To learn more about EY Payroll Operate services, click here.
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/ey-launches-enhanced-global-payroll-technology-service-to-address-evolving-business-landscape-301320168.html