04:05 INTERVIEW
Tracee Bowles: I think we’re really shifting our mindset in payroll. We’re moving from: “Did we pay everyone correctly?” to: “What will our payroll costs and risks look like next quarter?” With the right technology, payroll is really going to shift to become increasingly predictive rather than reactive. The future payroll professional is going to be part data scientist, part compliance expert and part business strategist. For us to really be a strategic partner, however, it is on us to build that profile within our organizations. Payroll professionals should dig in and see technology as enabler, not a threat. And those who start building their analytical and strategic capabilities now, they will be able to own the future of payroll and turn payroll data into business insights. Look farther than your current horizon. Look across the business and stay curious.
Next would be administrative
aren’t as successful as they should be because the data was inconsistent. Next, overlooking the critical change management piece is a big problem. If you don’t have rock-solid change management across your enterprise, you are not going to get your return on investment. Another issue companies overlook: integration architecture that includes payroll. Payroll doesn’t exist in isolation. With clean data, clear processes, and full documentation, everything else becomes easier. You’re not spending your time chasing data, trying to train people without proper documentation. That really frees you up to be more strategic when you have that foundation built within your team. GPA: What do you think is next for the payroll role in organizations?
infrastructure. Are they going to set up payroll processing capabilities locally? Established banking relationships are a must as are developing reporting and audit trails. GPA: What do you see clients misunderstand when it comes to global payroll issues? Tracee Bowles: I see a lot of company CHROs and CFOs with a very large blind spot. They treat payroll as tactical function rather than strategic enabler. It’s not something that they were trained on in their education. When they do that, it becomes a hidden cost of poor payroll planning. They are missing the bigger picture, which involves data quality. That is the foundation of all your accurate and timely payroll. I’ve seen companies spend untold dollars and time implementing new systems that ultimately
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GLOBAL PAYROLL MAGAZINE ISSUE 13
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