Payroll needs to be right. Out of compliance? Your company may face fines. If employees find errors in their paychecks, they are likely to leave. APQC’s benchmarking database shows that one quarter of employees will look for a new job after one payroll mistake and this increases to 49% after the employee experiences two mistakes.
Payroll impacts employee retention and the bottom line of the company, and products like SAP SuccessFactors Employee Central Payroll (ECP) help organizations stay accurate and compliant—APQC benchmarks also show that payroll errors take between three to eight days to fix, so accuracy is vital. Employee Central Payroll delivers a modern cloud payroll solution that is updated with biannual releases and localization updates as they occur.
But for some payroll customers, implementing and managing a sophisticated payroll system such as ECP can seem like an impossible dream. In the past, small and medium enterprises have simply been unable to afford the cost of implementation and support. So, the benefits of automated payroll functions have been left to larger companies, while emerging businesses are left without that competitive advantage.
Growth organizations need to implement payroll in a quick and cost-effective manner with leading practice processes, limited configuration, and globalized templates coupled with localized decisions. The solution needs to be able to grow with their enterprise. And finding the talent to manage ongoing support of the solution needs to be easy.
Rizing offers Synchrony Payroll, which has recently become available in the United States, and will be in Canada soon. Synchrony Payroll is a subscription-based cloud payroll solution built on ECP and utilizing years of industry and technical expertise to enable accelerated and streamlined deployment of ECP, with end-to-end services including the subscription, implementation, and support.
Data Management, Compliance, and System Administration
Synchrony Payroll is composed of three components to help organizations manage payroll:
- HR Data Management and Payroll with integration into SAP SuccessFactors Employee Central, which ensures accurate employee information gathering, employee timekeeping, payroll approvals, and employee payments and stubs.
- Reporting, tax maintenance and compliance, and end of calendar year processes, which includes taxes and withholding, payroll recording and reporting, and compliance with the help of partners like SpinifexIT and, in the case of the US, with cloud BSI Tax Factory
- System administration and ongoing maintenance with user support, year-end activity execution, and legal change implementation. This is provided as a level of service from Rizing in partnership with your organization—how much service depends on your needs.
Flexible Deployment and Support Options
There are three deployment options for prospective Synchrony Payroll, with the difference between the three being how much customization your company needs to tailor the system to your individual requirements.
At the base level, Rizing is able to deploy Synchrony Payroll in three months— using our out-of-the-box solutions and a remote delivery team that works with key subject matter experts in your organization. We’ll also ensure you know how the system works, upload your important data, and help you launch your payroll.
Other deployment options will include less pre-configuration and more client specific needs, ranging from six to nine months in deployment times. Each level will also include an increasingly high number of on-site Rizing staff that focuses on ensuring your unique needs are met.
After deploying Synchrony Payroll, you also have options to determine how much support you need in maintaining your payroll system and processes. Rizing has three levels that range from application support and legal compliance to end-to-end service that includes customer service, data entry and payroll processing.
At the highest level of support, your HR team is given the freedom to focus on improving and innovating HR processes, as the payroll tasks have been handed off to Rizing. In between those lowest and highest levels of service, the mid-level support option allows your company to maintain data entry, employee interaction and the execution of payroll, if desired. At this mid-level, Rizing provides high quality transactional services such as time management and payroll execution.
Benefits of Having Options
The flexibility of implementation and service options combined with Rizing’s SAP SuccessFactors expertise and proprietary migration utilities means that you have the assurances that your data will be accurate at deployment – in whatever deployment approach you choose. Our payroll experts ensure master data is integrated into core HR for the most accurate payroll at a level of investment that meets your company needs.
On top of that, there’s also pre-built compliance for 45 different countries (and counting), and all the other benefits of Employee Central Payroll.
Finally, and most important for your employees, flexible payroll options allow your organization to take advantage of the latest user interface upgrades that are designed to create more efficient processes through automation, intelligent services and mobile adaptations.
Sophisticated payroll isn’t just for the largest organizations. Rizing Synchrony Payroll opens up these benefits to a broader set of organizations of varying sizes and unique payroll requirements. To find out how it fits with your organization, request a demo from Rizing.