PayrollSeven is a state-of-the-art, cloud based global payroll solution that is built on a rule based engine. This allows the payroll engine to process the payroll based on the user configurable rules set based on client requirements. The system is capable of handling statutory, legal and regulatory rules of any country in the world along with the specific need of every organization. Therefore, it is truly a global payroll that can cater to the needs of small, medium and large organization that operate anywhere in the world.
The system also contain features to handle Time Management, Employee Self Services and Historical Data. In addition, system provides functionality to migrate data from Oracle eBusiness HCM Suite.
PayrollSeven in Oracle SaaS Environment
PayrollSeven can co-exists with Oracle SaaS HCM modules as an integrated module. In such case, all data exchanges are transparent and infact all relevant data required for payroll processing will be pulled from HCM cloud modules
PayrollSeven in Oracle PaaS Environment
PayrollSeven is also available on Oracle PaaS environment wherein it can integrate with Oracle SaaS environment and any other third party application for data exchange.
Easy Experience of Payroll Cycle
PayrollSeven takes the user into a graphical easy to use experience/steps to run the payroll cycle in every payroll period. It covers the main concepts of payroll from ‘manage entries’ step all the way to the ‘transfer to GL step’ fulfilling all the required business payroll scenarios and actions.
Rules-Based Payroll Engine
Traditional payroll solutions provide hard-coded, out-of-the-box packages that are often unable to accommodate specific business needs. PayrollSeven provides flexible and intuitive configuration capabilities that can support your organization’s advanced requirements. With its distinctive data-driven approach, PayrollSeven enables you to define and manage your diverse payroll requirements that reflect your business policies. Using PayrollSeven, you can quickly and easily process payrolls based on your organization’s required frequency. If you need to recalculate payments during a payroll run, PayrollSeven allows you to easily recalculate individual payments while preserving the integrity of the other payroll run results.
For large worker populations, the PayrollSeven system allows for multiple groups of employees to be processed simultaneously allowing for a quicker processing window. PayrollSeven also provides concurrent post payroll reporting: Once the payroll calculation process completes, you can process payments, post-payroll reports and costing transfers to General Ledger all at the same time.
PayrollSeven provides you complete control over even the most complex processing rules and calculations. Formula Composer is a powerful way to model business rules. Using Formula Composer, PayrollSeven's easy-to-learn calculation feature, you can quickly specify detailed payroll calculations using conditional logic and references to any Payroll attribute.
This allows organizations to process different payroll elements such as:
- Earnings (Basic Salary, Recurring Allowances, Non-recurring Allowances, Grade Based Allowances,
Encashment, End of Service Payments… etc.)
- Deductions (Recurring Deductions, Non-recurring Deductions, Loans, Taxes, Employee
- Information Elements (Provisioning Elements, Accruals, Engines, Employer Contributions/Charges
Flexible proration rules
‘You can only hire, promote, transfer or make any payroll changes on the first of the month due to system proration limitation’, a frequent statement no organization would like to hear. PayrollSeven enables organizations to flexibly define proration rules and events that accommodate all kind of payroll related changes on any day in the month. It also accommodates proration rules per payroll and pay element (ex: 30 Days, month actual days, 26 days, 22 days ,365/12).
Retroactive Payment & Increments
You can make retroactive adjustments to employees’ past earnings or deductions based on changes to pay rates, unpaid leave, or other information. Retro process automatically detect and notify you of any changes that will impact pay. The RetroPay process automatically calculates the difference between the newly calculated and original amounts and records the adjustment for subsequent processing.
Complete Payment History
Using Date Track, you can examine employee payment history at any time. You can change your current session date to a past date and see earnings, deductions, and associated calculations exactly as they were on that day. Date Track History lets you view changes to an employee's record over any time period you specify while also allowing you to input start and stop dates on pay-related information. You can purge any unneeded data at any time to minimize data storage.
Unlimited Pay Elements, Employees and Roles
With our smart payroll solution, your payroll expands and shrinks as your business grows, enabling you to add as many employees or pay cycles as you like.
With our role based functionality, additional users can also have access to the system for on different roles as per client needs. A main system administrator role allows client to define users, their role and access type.
PayrollSeven allow payroll admins to connect the employee net pay with the payment method defined for that employee and generating bank files. It supports multiple payment methods with % distribution of the employee net pay.
The costing process is a feature in the PayrollSeven system which identifies the costing accounts for the payments done in the payroll cycle. Costing can be done at different levels to cover cost centers, natural accounts, and individual assignment costing. Costing and journal reports and files can be generated to aid in the process of transfer to the Financial System (GL).
Single Concurrent Program
PayrollSeven uses a single concurrent program which enables HR & Payroll admins to submit all the requests and reports from a single page.
Payroll Dashboards & Reports
The Payroll Dashboards & Reports provides at-a-glance readiness checks, validation and analytical views of the entire payroll cycle. Payroll administrators gain valuable insight into payroll processes to help avoid costly errors and improve productivity. Use the Payroll Dashboard & Report for easy and effective payroll reconciliation.
Proven Accuracy and Security
PayrollSeven provides a trusted solution to the inherent payroll requirement for accuracy and security. All the information you need to check and reconcile your payroll is available easily and efficiently, and more importantly, only to the appropriate individuals. A number of control points exist in the system, ranging from security to exception reporting. Exception reporting will alert you to any “out of the ordinary” conditions.
PayrollSeven uses a single role per user method where roles with different access to any of the functionalities is linked to the user as per the enterprise security matrix. Data security profiles are used by PayrollSeven to identify the data which the user can view or update.
PayrollSeven supports a multinational workforce by providing payroll calculations in each employee's local currency and automatically converting currency during the master payroll process using tables stored in the system.
Additionally, you are able to select your language preference for viewing applicable reports and forms. For example, in the same payroll run, one Arabic payroll manager can view a payroll report in Arabic while another can view the data in English.
PayrollSeven design supports a global organization’s payroll requirements. You can implement core payroll engine, and then install each local extension to add the necessary functionality, reporting, and processes for each country in which you process payroll.
Localization and Legislative Compliance
In order to address the specific regulatory, legislative and cultural requirements of various countries, local extensions are currently available for the following countries. However, in the due course system will be available for all countries.
List of Countries where local extensions are available