DELIVERING VALUE TO YOUR BUSINESS
Inciper’s Strategic Partnership with MHR Global
Inciper, a specialist business transformation consultancy using Microsoft Dynamics and PowerPlatform, and MHR, a specialist Payroll, HCM software provider, have entered into a strategic partnership to support their customers with the integration of Dynamics 365 Finance and iTrent creating a powerful end-to-end solution that will address both Public & Private Sectors where an integrated ERP/HCM/Pay approach is required and beneficial in addressing the common challenges it can overcome when compared to disparate solutions.
Key Benefits of an integrated Payroll & Finance Solution
For the last 30 years, the traditional thinking has been that a payroll solution, and more latterly HR (HCM) solutions are separate from the core operational business process solution (ERP).
The reasons were often cited as “security” and “keeping a payroll solution separate was a benefit”. With the advent of cloud-based access, robust security models, single-sign on & employee self-service, there is a drive to integrate seamlessly MH/Pay with ERP.
There are significant operational and efficiency gains to be made, consolidated reporting, real-time information flow and improved employee experience:
- Streamline manual processes
- Data Accuracy
- Reduce cost/overhead/time
- Spend time on value-added activities instead of administration
- Speed-up the process – do things once in the ‘core system’
- Security and compliance – eliminate errors through less manual intervention
Why an integrated Payroll & Finance solution?
- A payroll management system centralizes employee data, calculates salaries and processes pays while remaining compliant with tax regulations. ERP facilitates real-time management of business processes by integrating business strategy, finance, manufacturing, marketing, and sales in a common database with secure authorization channels. It, therefore, becomes absolutely necessary for an ERP to have a quick, accurate, and intelligent payroll management application.
- Payroll management systems often work closely with time and attendance tracking software which are integrated into ERP as well. Time tracker software and biometric data are put into use to accurately measure the time an employee spends on work. This, in turn, allows the payroll management software to calculate precise payroll, considering time reports and tax deductions.
- A well-integrated payroll and ERP system guarantees that records are updated in one place and reflected across the whole management system. It implies that there is no need to reprocess payroll in case salaries change. When an existing employee leaves or a new employee joins the organization, employee data needs to be altered only once. This reduces manual effort and illuminates duplication errors and improves the timeliness of information.
Talk to Inciper about the benefits of an integrated Payroll & Finance solution