04:05 INTERVIEW
the spreadsheet because they don’t have the service. I feel the bundle bit is going to be a big change. Will every company then start offering payments? Will every company then start offering lodgments? Will every company then upsell other payroll-related things like daily pay? Do you bring in early wage access? And now that you bundled it, give me one price. Don’t give me 16 prices. GPA: What about payroll professionals themselves? How should they prepare for these changes? Sachin Goklaney: Like the service providers, payroll professionals should also move to a more bundled knowledge. Know not just the technology but also know how different systems play with each other. As for moving into the C-suite, leaders have got to recognize that payroll professionals are actually experts, even though there is no payroll degree. It’s more important than ever that those in payroll get the leadership to read and comment on the pay data; it’s a responsibility of the entire organization to look at the payroll data.
Complex changes that happen regularly in payroll don’t happen in finance, yet proposals for financial systems get a lot more attention than a payroll proposal. I would like to see a bit of a par on that for payroll.
get a lot more attention than a payroll proposal. I would like to see a bit of a par on that for payroll. Whether it’s going to happen, I don’t know. But to me, payroll is going to get more and more complex, and, at the same time, I think great companies are trying to reduce that complexity through technology. They are saying: “give me one price per person and I’ll pay you.” For everything related to employment and pay. Many providers are used to applying fees for new joiners, fees for leavers, termination this fee, registration costs this much, and so on. I think this is changing. In addition, price pressures are going to hit payroll firms to then make them pivot into more ancillary services. They can’t win any RFPs if they can’t answer half
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GLOBAL PAYROLL MAGAZINE ISSUE 24
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