It has become increasingly common for companies to outsource their human resource (HR) departments. While some companies may entrust their HR needs to an inhouse function, other options include outsourcing to a single outside vendor or even a range of service providers. Outsourcing allows companies to focus in on their business, such as generating sales and product development, without the distraction of payroll distribution, deduction and benefit allocation, and the payroll employee recruitment and hiring process.
Talent2 International Limited is a leading Payroll and HR service provider, specializing in providing payroll, HR, learning and recruitment services, throughout Australia and the wider Asia Pacific (APAC) region.
James Saxton, Talent2’s Global Head of Solution Design and Development explains, “Outsourcing provides an organization with the ability to provide the best possible service from a specialized provider in HR services without the need to have large investment internally in these specialized services.” He then adds that this saves an organization money and effort, allowing them to concentrate on their core business knowing their HR needs are well catered for by Talent2.
Talent2 has engaged Mitrais to build a payroll system specifically designed for businesses in the APAC region, providing a single, integrated payroll platform. PeoplePay will use the latest cutting-edge technologies to be a system with multi-country and multi-lingual processing capabilities, as well as single or multiple currency outputs. Meaning it will be an exceptional tool for companies that work across countries and need to adapt to differing legislative and compliance regulations.
This is quite a feat, when you think about it, because every country has its own tax withholdings, minimum wage and deduction requirements. Plus, these payments must be filed consistently and accurately to applicable regulatory agencies, in a timely manner. PeoplePay’s added flexibility and capacity, user-friendly interface, combined with a robust, stable and reliable system, make it easy for management to access real-time data. And the company can rest assured that the complexities of regulatory compliance in wage laws, deduction requirements and tax schemes are strictly adhered to.
On top of all that, the built-in Data Interrogation and Mining on Demand (DIAMonD) system is a powerful reporting tool that comes standard on the PeoplePay product offering. Not only does DIAMonD produce standard reports, but it also permits customized reporting functions for a range of features. This includes the ability to limit or specify user access to secure information, to ensure the protection of the organization’s sensitive and confidential data. You also have the ability to manipulate data by fields, for example employee and leave type, for personalized reporting, planning, scheduling and operations.
PeoplePay has been released in Australia and is now being modified, with Mitrais’ help, to introduce new functionality into the product, as well as capability to process payroll for more countries. “This latest version of PeoplePay is to introduce legislatively compliant Singapore payroll functionality. This allows us to move existing Singaporean clients across from our current payroll product Paysonnel,” says James.
As to the reason behind their decision to involve Mitrais in the project, according to him, “We felt Mitrais showed a mature software development model, which gave us confidence in their delivery. With a large workforce capable of expanding to our needs combined with their localized time zone, they provided a compelling near-shore option.”
Overall, Talent2’s PeoplePay system is the only true multi-tenanted payroll system in the region and provides a single, integrated payroll platform with consolidated reporting and baseline analytical data.