If you were to communicate about any industry, I am sure it will be replete with a few buzzwords. In the enterprise product parlance, some of the oft-repeated words include RPA, AI, ML, Blockchain, IoT, among others. It creates a classic top-of-the-mind awareness about these technologies and one can only assume that deploying these will perhaps resolve automation issues at the workplace or reduce the overhead of administrative tasks. But we need to unearth the true meaning of contextual Digital Transformation, which is resting six feet under, too burdened by the weights of these buzzwords to see the light of the day.
Digital Transformation is a subjective term. To understand its meaning and value, we need to tie it to our day-to-day activities. Otherwise, it may become a downgrade, instead of easing tasks for the users. One must also remember that the latest, cutting-edge technology must automate and simplify crucial business transactions, instead of further complicating them.
Since the idea is to simplify, let us broach the topic of how one needs to analyze the features of a solution. Every product upgrade lists the new features of the latest version that is conveyed to customers and prospects. But the most important step is to identify the benefits of these features. While features are generally packed in the wrapper of buzzwords and unwrapping it will require you to determine if digital transformation will address the pain points and elevate the processes for a business and its people, benefits are contextual to solving end user’s problems or simplifying their tasks.
Payroll Transformation
The practical way for an organization to embrace contextual digital transformation is to map these benefits with the current challenges or adopt functionalities that could bring in real improvement. While we are on the subject of digital transformation, here’s a brief note on its importance, especially concerning the payroll function. Organizations are increasingly beginning to discover that digital transformation transcends the boundaries of jargon and technology and that it is specific to business functions. HR and payroll that previously may not have been considered a serious contender for digital transformation now realize, especially in the wake of a pandemic that called for an urgent reassessment of the processes, that the role and impact of payroll transformation are huge. Digitally transforming payroll is not an afterthought anymore.
Some are even beginning to consider it as the first step towards digital transformation. Intelligent automation of payroll activities including payroll processing, self-service functions, and online payslips with the help of technologies including AI, ML, and NLP is a necessity. This can have a huge impact on employee experience. Besides, automation can prove its usefulness by making use of the data which the technology can be trained to read to provide contextual insights.
With pathbreaking innovations in the HR and payroll tech space, it is extremely vital for vendors to solve relevant use cases and, on the other hand, organizations to pave way for such contextual and innovative functionalities to not only improve productivity but also to enhance employee experience.
