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Are You Handling the Compliance Crack Effectively?

Are You Handling the Compliance Crack Effectively? Many organizations are still using separate systems to handle range of workforce management functions that include core HR functions, running Payrolls and administering benefits. Amidst of juggling between different processes, one after the other, some loopholes are still left, that you may call as Compliance Crack. 50% organizations believe having separate information systems for Regulating HCM Compliance is more reliable. organizations don't have Real-Time Data Accessibility through a single platform. 42% 58% of respondents graded their software's usability for managing compliance as "C-grade or poorer. One-third of respondents stated the system company is using is not easy to understand and use. 1/3% 35% of those surveyed said that now managing compliance has become more time-taking than ever! How the Compliance Crack Affect Organizations? Compliance Crack Leads to Financial Drain 78% agreed that running compliance processes on separate systems increase the costs. Resources are Exploited in Compliance Activities According to the Vestibulum blandit diam id 62% quam placerat ac egestas una hendrerit. Morbi eu arcu eu to acinia at quis l of those surveyed, time and attention juest, id dapibus nibh. required by compliance activities exploit their company's resources. Updation Takes Up Much Of The Productive Time 57% believe entering or updating data into existing systems takes too much of their employee time and effort. What is the Need of the Hour? Make Systems Easy-To-Use 80% of respondents said it's important to make their company's existing HCM systems much easier to use. Improve The Technology Improvement in the technology and systems for managing compliance would definitely offer more benefit to their companies, said 38% of the respondents. Bring in New Technology 26% of respondents said it would be best if the company invests in new technology. In contrast, 24% said more benefit will be attained if the compliance activities are consolidated or centralized. 1/3 of the companies are concerned that over the period of next 2 years, professionals will be involved in managing new regulatory requirements and enforcements imposed by ACA, along with the challenge of integrating the systems used for maintaining HCM Compliance. TeemWurk can be the absolute solution for companies as it offers an integrated suite of workforce management solution including Benefits Administration, Payroll, HRIS & 3D EDI solutions. f t in TEEMWURK Benefit Administrator at your desk Source : CFO Research, Intelligent Compliance in Human Capital Management, 2015, http://www.adpcomplianceinsights.com/wp-content/uploads/2015/02/ADP_BewareComplianceGap_v3-copy.pdf %24

Are You Handling the Compliance Crack Effectively?

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Many organizations are still using separate systems to handle range of workforce management functions that include core HR functions, running Payrolls and administering benefits. Amidst of juggling be...

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