Oracle Cloud — The Evolving Global Payroll

The ever-enhancing Oracle Cloud Global payroll product has seen quite a few updates in the past few years. From keeping up with Legislative changes in the United Kingdom to embracing user-friendly experiences, Oracle has been a pioneer in database and information management products. Oracle Cloud Payroll product is a fully unified solution with your HR process that enables compliant and configurable payroll across the globe — irrespective of your industry, company size, or worker type.

With the new ways of working, the workforce is now significantly varied in terms of remote working from various locations. As we move towards a much more global approach, Oracle Global Payroll has some amazing features where we can manage the payroll of the workforce in different countries, with different legislations, and different currencies and manage their absences with different rules in a simple and seamless manner.

Let us take a broad look at the most recent interesting features offered by Oracle Global Payroll:

ENHANCED GENDER PAY GAP REPORT

Use the additional data items in the Gender Pay Gap report to assess whether or not to exclude individual employees from the data extract prior to reporting. Also included are further details of bonus payments in the snapshot payroll period, to enable accurate calculation of the hourly rate of pay. An example of the format is shown below:

ENHANCEMENT TO MYCSP REPORTING TO PROVIDE YEAR-END FIVE-DAY PIP REPORT

The Generate MyCSP Interface process for civil service pensions has now been enhanced to generate a Five Day Pension Input period report in a .csv format automatically!

UPDATE EMPLOYEE’S PAYROLL DURING CHANGE ASSIGNMENT TRANSACTION

Update an employee’s payroll while updating their assignment. For example, an employee transfers to a new department, and as a result the payroll changes from monthly to weekly payroll. You can now capture the new payroll as part of the Change Assignment transaction.

VIEW EMPLOYEE RETROACTIVE PAY (RETROPAY) RESULTS

You can now compare the Retropay results that the Retropay process calculated against the original payroll run side by side to have better visibility of what the Retropay calculations looked like.

NEW REPORT — RUN PERIODIC PAYROLL REGISTER REPORT

There is now a Periodic Register Report which is similar to the Run Payroll Register Report, but can now run faster for the same dataset and can even be extended to show Month To Date, Quarter to date, or, Lifetime Balances with minimum configuration

SORT CODE SEARCH FOR EMPLOYEE BANK ACCOUNT CREATION

Provide your employees with an improved bank account creation experience. An employee can search for a bank sort code and create a bank account without knowing the bank and branch details.

RETROPAY LATE HIRE ADDITIONS

Calculate retroactive pay for late hires using the enhanced RetroPay Late Hire solution. This feature automates the calculation of retroactive earnings for late hires by removing the need for manual intervention and viewing the late hire details for an employee using the payroll flow and checklist.

SEND PAE NOTIFICATION LETTERS THROUGH EMAIL

Send your employees a pensions automatic enrolment notification letter through email according to the requirements stipulated by the pensions regulator. There must be a valid email address present for them to receive the letter as a PDF document. You can use the email delivery option once you’ve set up the relevant delivery parameters.

These are only a few examples of ways in which Oracle has made payroll processing tasks simpler and more efficient. If you are using Oracle Global Payroll, reach out to us at Version 1 to help you make the most of the features provided and keep up to date with the latest and greatest from the Oracle Payroll Cloud.

About the author

Swati Mohapatra is a Senior Oracle Cloud Payroll Consultant @Version 1 with over 18 years of experience in Oracle Cloud Payroll, Absence and Time and Labour Modules.

If you have any questions or would like more information on how Version 1 can help you get more out of your Oracle Payroll and HCM Cloud implementation, please contact her at swati.mohapatra@version1.com