B2B Payments

Nine Peaks Solutions Rolls Out New Data Extraction Tool For Payroll

Nine Peaks Solution has rolled out HCMReporterTM, a new software to extract data and get payroll data done quicker, a press release says.

According to the press release, the software could be useful for companies looking to change up their human capital management (HCM) systems, integrating old data and streamlining the process for payroll by providing access to data securely and completely.

The onboarding process is touted by the company as fast and safe, and Nine Peaks says it “assumes responsibility in the audit and transfer of data to ensure accuracy and privacy.”

The company says the HCMReporterTM allows for better reporting of data, including quarterly and yearly total reports, HR info and employment and job change history and employee benefit history.

With the new feature, Nine Peaks allows for safe data preservation where users will “never lose” their work, the press release says, and reduced costs and easy, flexible output delivery are two more benefits.

Nine Peaks chief executive officer Eric Skidmore said the company wanted to boost HR due to its broad and vital role for B2B.

“We believe the role of HR goes way beyond administering policies and putting processes in place — it transforms the way companies streamline functionality, maintain compliance, payroll and reporting systems,” he said, according to the release. “That is why we created HCMReporterTM, to service the HCM priorities within companies and help execute business continuity.”

Nine Peaks says the streamlining of HR functions works to save time due to fewer IT processes needed, and the new HCMReporterTM program allows companies to be more efficient by doing away with old systems, since all data can now be collected in one place.

The coronavirus pandemic has accentuated the rate of digitization for companies, which comes with more data integration, PYMNTS reported. Collaboration with digital experts has been key in integration, as transitioning to digital at all is time-consuming enough.

But as the pandemic plays out and eventually ends, experts want to see how companies continue to stay on their digitized paths as the culture around working from home evolves.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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