When it comes to finance, reporting, governance and compliance, organisations have several very large balls in the air. In a complex juggling act that demands perfection and attention to detail, companies need to prioritise financial operations and governance, risk and compliance to ensure they remain legislatively compliant and on track with legislative mandates.
“It’s essential that systems such as payroll are legislatively compliant to reduce the risk of running into trouble with the authorities,” he explains. “The sheer weight of regulations and legislation that govern payroll, finance and information puts immense pressure on organisations. You have to stay on top of every minute detail and unexpected change, or else.”
“A robust payroll and financial operations management platform will be built on a concrete security matrix and be updated consistently by the parent company,” says McAlister. “This means that access to private information is only granted to specific people who have to work within payroll so that data is protected.