Immedis, the leader in consolidated global payroll solutions, today announced another world-first innovation called Immedis CSI (Country Specific Information), which delivers a dedicated payroll database for the specific taxation, benefits, and compliance requirements for each country.
Different countries require different data to be collected, stored and used for the calculation of tax. For example, in France in order to pay maternity benefits, baby due date information is required. In Belgium, the taxable benefit of a company car involves the CO2-coefficient, rather than just the value of the car. Employers in Germany need to track religion for the purposes of church tax.
Immedis CSI tracks information unique to an individual country and validates the entry based on local requirements. Unlike other payroll solutions requiring payroll managers to research and manually add country-specific data and requirements, Immedis continually incorporates and updates the data into the platform resulting in significant time and cost savings for payroll teams and organizations. Additionally, Immedis perpetually validates the data to ensure all country-specific, regional and local information is up to date and accurate, resulting in timely, accurate and compliant payroll delivery for the global workforce.
“HCM platforms hold a limited amount of country specific payroll data, so the challenge for payroll teams has been where and how to track the local requirements in a way that is both rigorous and flexible,” said Richard Limpkin, Chief Product Officer, Immedis. “CSI dramatically simplifies the process by allowing payroll teams to directly input the data into the Immedis platform without having to invest in and maintain HCM customizations to facilitate local payroll information. This means payroll administrators can incorporate any new country-level requirements within minutes, a process that previously could take hours.”
In addition to significant time and cost savings for organizations, Immedis CSI improves the employee experience by ensuring timely payroll delivery as payslips reflect the individual country specific data, avoiding payroll delays that could result from incomplete or inaccurate data.
“Global payroll teams are commonly responsible for keeping track of all changes across each country it processes, which can be an onerous task,” explained Pete Tiliakos, HR Technology and Services Research Director, at NelsonHall. “With modern tools like Immedis CSI, practitioners no longer need to manually track and know every change or update to tax, benefits, or compliance legislation. If requirements change, it proactively appears in-platform as a required field, along with a visual identifier notifying users to take action.”
Using Perpetual Validation, the Immedis Platform identifies any gaps in payroll data that would impact the successful completion of the payroll. The platform surfaces data management using AI in a way that is intuitive to non-technical users, continuously checking and subsequently validating the quality and completeness of data contained. As a result, users can quickly identify gaps in their global payroll data, for any country, in real-time. This means that issues can be identified before the payroll run ends.
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