Payroll tech. Ramco Systems develops self explaining payslip

Ramco Systems' Artificial Intelligence-powered Self Explaining Payslip (SEP) could elevate employee experience by giving instant and detailed answers to payroll-related queries. This could also be a good tool for companies that are increasingly seeking ways to enhance employee experience and looking at digital transformation of payroll.

SEP is aimed at simplifying day-to-day HR & payroll transactions with Deep Learning and Natural Language Processing capabilities, said Virender Aggarwal, CEO, Ramco Systems, the Chennai-based payroll software provider “We have around 40 customers leveraging the beta version of SEP since the last three months,” he told BusinessLine.

A manufacturing conglomerate with approximately 15,000 employees across more than 10 countries is running a beta for the SEP with their employees in India and Singapore. A Middle Eastern-based staffing company with approximately 6,000 employees is also running a beta, he said.

Features

SEP lets employees seek explanations of their compensation and pay slip component. It also helps employees receive prompt and personalised responses to their payroll queries, without having to write to a payroll helpdesk and wait for a response.

The global conversational AI market will be worth around $16 billion by 2024. Ramco’s SEP is a move towards the Conversational UX approach.

In the traditional way, employees will write to a helpdesk to get their payroll queries answered. The typical channels for such communications are e-mails or ticketing systems. In such cases, employees have to always wait for a response - anywhere from two hours to more than a day. And despite the wait, the response from the helpdesk agent can be inadequate or incorrect. Compared to this SEP's responses are instantaneous - most often, the response is received within 15 seconds, he said.

With ‘work from home’ becoming the norm, employees and even help desk agents no longer sit in offices. This can further exacerbate problems related to employee services such as access to resources/ information, waiting time and hence employee experience, said Agarwal.

With a digital, fully automated smart service such as SEP it is like having access to a helpdesk agent, anytime, anywhere, day or night, 24x7. Responses are personal and secure. The AI-based service can also help send proactive alerts and notifications to employees, such as for their tax investment declarations, he said.

For employers, the SEP helps to reduce the cost of managing payroll help desks and reduction in the volume of queries to be handled by helpdesks. Over 70 per cent of all HR and Payroll related queries are clarifications, he said.

COMMENT NOW