In a recent Oracle video, Nancy Estell Zoder, Senior Director of Product Strategy for Oracle HCM Cloud, walked through Oracle Global Payroll solutions for HCM Cloud customers. The Oracle Global Payroll solution provides several options for Cloud customers. For some, this may mean leveraging the Global Payroll interface solution that is available with Core HR. For others, it may mean leveraging one of many local payroll solutions, which has a payroll processing platform that uses organization person and assignment details from Global HR to pay employees based on organization, union, and jurisdiction rules. In addition to Global HR, Oracle’s Cloud payroll solution also leverages data from Benefits, Time & Labor, Absence, and others as needed to support the complex processing needs of payroll eligibility and calculations. But what are the top unique product capabilities of Oracle’s Global Payroll solution?
Product Essentials of Oracle Global Payroll
Unlike other HCM solutions in the market, Zoder explained that Oracle has developed its Global Payroll solution for all organizations around the world, in every industry, to manage the payment of workers based on configured or localized rules and reporting requirements. She explained that Oracle provides solutions to manage a global and diverse workforce, regardless of what employee type – full-time, part-time, unionized, retired, or contingent workers.
Oracle delivers payroll support for the United States, Canada, Mexico, Kuwait, Qatar, Saudi Arabia, United Arab Emirates, United Kingdom, and China. Oracle HCM Cloud delivers out-of-the-box integration solutions, as well as configuration tools to gather country-specific information – leveraging the Experience Design Studio.
Oracle HCM Cloud Payroll ensures that when an employee changes their address, has a change in work locations, or simply has multiple work locations, the taxation is calculated based on those attributes during every payroll without the payroll administrators having to update tax information separately. This ensures the efficiency and accuracy of the taxation calculation.
Oracle HCM Cloud Payroll also tracks and maintains tax rates and rules for customers. In addition to the support of taxation complexity, Oracle also supports retro-earnings to ensure that employees get paid what they’re owed, even if updates to earnings are entered with prior effective dates. Retro processes with the regular payroll run enable administrators to control the rules to align with organizational policies for under and overpayments to employees. Retro can be run for an entire payroll group, a selected group of employees, or even a single employee. Those retro-earnings also take into account overtime regulations, like FLSA, when determining what backpay is owed to employees.
Zoder also mentioned HCM Cloud Payroll’s configuration capabilities, which enable customers to process payroll based on their needs versus having to follow a rigid series of steps determined by the payroll solution. Every organization has unique contractual payment terms that they must adhere to, and Oracle’s configuration tools allow customers to manage those unique rules.
Through payroll flows and checklists, customers can define the important tasks and steps that need to be completed to ensure an accurate and complete payroll outcome. Customers can secure tasks to specific users, have tasks automatically kick off based on other tasks completing, or require a user to approve a task so payroll can move forward.
Oracle HCM Cloud Payroll customers are live in over 200 jurisdictions, leveraging the delivered localized business and language support. Oracle is continuing to evaluate the opportunity to expand its localization and payroll processing needs worldwide based on customer demand.