Employee attendance management software provider OnTheClock is integrating its solution into Thomson Reuters’ payroll solutions.
A press release Friday (Aug. 31) said OnTheClock is connecting with the Thomson Reuters Accounting CS Payroll platform, offering employers a way to manage both employee scheduling and payroll within the same platform.
OnTheClock enables companies to automate calculation of overtime hours, tips and commissions. The platform also includes benefits tracking, including time-off benefits — all of which impact how much an employee ultimately makes in a single paycheck.
Payroll is a popular target for FinTech innovators looking to add automation, data analytics and other technologies into the process for more accurate, faster, digital payroll. Last month, Josh Reeves, co-founder and CEO of payroll solutions provider Gusto, spoke with PYMNTS about some of these trends.
One of the largest points of friction, he said, is tax compliance.
“A lot of people — particularly in the one-to-100 market segment — are doing this stuff using pen and paper,” he said, “and, as a result, racking up fines and penalties for calculating their payroll taxes wrong.”
Last month, Microsoft announced a partnership with Ramco Global Payroll Software in a deal that sees Microsoft embedding artificial intelligence into a new payroll solution operating on the Microsoft 365 portal.
In a statement, Microsoft India’s president, Anant Maheshwari, spoke on the digitization of payroll and HR.
“By 2020, 30 percent of mid-market and large enterprises will invest in cloud-deployed human capital management suites,” he said. “Our partnership with Ramco takes a step forward in empowering organizations to achieve more. This comprehensive solution for talent management offers the scale and security for digital transformation needs of HR in modern enterprises.”