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5 TIPS for Payroll Compliance
Payroll compliance brings many nuances from the regulations, guidelines, applicability, and agreements owing to continuous revision of tax and labor laws. It is pertinent to be careful about the above payroll aspects and avoid error and penalties. As per the statistics, in USA, $6 billion in employer penalties were assessed by the IRS in 2020 and as many as 30% of businesses were reported to have misclassified their employees. Paycheck error has also been experienced by as many as 25% of the employees and around 82 million employees in US have been affected by payroll problems. The solution of all these concern lies in having a robust and trustful payroll system in place. An up-to-date compliant payroll solution not only benefits employers but also increases the employee experience. Therefore, the companies must ensure compliance with technology that would help make the process more seamless and adopt mechanisms that comply with the most important regulations.
Source: https://www.ramco.com/blog/pay....roll/5-tips-for-payr
How Enterprise Asset Management Systems is Driving Innovation across Industries
Research on the Enterprise Asset Management (EAM) market by ARC Advisory Group notes that as EAM systems become increasingly interconnected and intelligent, their role as a critical hub for enterprise asset data which can be shared with adjacent systems is growing. EAM is instrumental for companies having large assets on their books and the overall business profitability depends on the output that can be extracted from the assets. Customer interest in leveraging Enterprise Asset Management to get better insights into asset performance management, asset lifecycle management and reliability-centred maintenance is driving innovation across various industries.
The report also incorporated the key market trends currently, and they include:
SaaS and Cloud Adoption
Interest in Software-as-a-Service Solutions
Interest in Mobile Solutions
Industrial IoT Enhances EAM Capabilities
Awareness of Advanced EAM Systems
Adoption of Asset Management Standards
Source: https://www.ramco.com/blog/erp..../how-enterprise-asse
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