I recently contributed to an article in Payroll World that discussed Big Data and the need for Payroll to become more strategic by altering the way it works, automating key processes and embracing globalisation, centralisation and the use of new technology.
Payroll can be much more than a simple cost of doing business – and I believe it can provide important insight that can be instrumental in maximising output of production, sales and customer service.
Payroll data can add strategic value to all departments; it can be used to compare payroll investment to productivity, sickness rates in various job functions and absence to management style. It can add significant understanding to what is happening within the organisation. A manufacturing company can use Big Data to analyse and understand the exact cost of producing certain goods. A service provider may review payroll investment related to customer satisfaction, and a retailer may optimise payroll cost to sales.
Being strategic is easier than you might think. The journey that goes along with Big Data can seem an overwhelming one but it doesn’t have to mean interpreting every line of data. The focus should be on the critical business questions, and identifying the data that will support them – this is where payroll can support them.
Find out more and download the full article here.
As always I would be happy to hear your views and comments.