NetSuite’s 2013 acquisition of Waterloo, Ont.-based TribeHR provided an established human capital management (HCM) solution to add to NetSuite’s existing platform.
It is no surprise that NetSuite has further developed its HCM product offering with its recent launch of NetSuite Premier Payroll Service, fully integrated with TribeHR.
Consistent with NetSuite’s business approach of “One System For Your Entire Company”, the Premier Payroll Service supports NetSuite’s integrated business solutions across all operating systems. CRM, Accounting, Sales, HCM, all talk to one another, making reporting seamless, and decision making data rich, more reliable, and more effortless.
Using the reporting capacities within TribeHR, payroll administrative issues have been automated within Premier Payroll Service. TribeHR seamlessly populates the system, avoiding duplication of effort, saving administrative costs and time, and ensuring accuracy and reliability.
Critical payroll information feeds directly from the Premier Payroll Service into other key NetSuite operating modules, like the CRM and Accounting. Keeping in mind that salaries and benefits are a huge operational cost, the ability to track payroll expense accurately and seamlessly is a value-added feature for any organization.
TribeHR already has a highly leveraged social media framework to build an interactive and connected employee workplace experience, so I was interested to learn what type of interfaces, if any, are available for employees in the Premier Payroll Service.
There is no question that on the whole, payroll can be perceived as a bit of “black hole.” Who really can know and decipher the “what and how” of payroll beyond the payroll administrator? But the Premier Payroll Service has been designed to provide what I would suggest is a “feel-good” experience for employees and payroll administrators.
Typically, for most employees, how their paycheque is developed is a mystery. An employee can see the detail on their paystub or deposit slip, but they may also have a slate of questions, like “What does this all mean?” “How was it calculated?” “Why the deductions?” and so on. In short, “Is my pay correct?” can be a nagging question. I think we have all been there at some point, especially if there are variables such as bonuses, commissions, shift premiums, and different taxes in the mix.
Joseph Fung, TribeHR creator and NetSuite’s Vice President of HCM, oversees the Premier Payroll Service. In step with the transparency afforded to employees to access their own information with TribeHR, any employee with appropriate security can access the Premier Payroll Service and view their own payroll detail in “real time.” For example, an employee can see all their commission amounts, and can figure out exactly how their payroll is being calculated.
For a company to allow employees this degree of access to the payroll system shows a high level of transparency, helps to foster employee engagement, and builds a culture of trust.
The intention is that employees should not doubt the accuracy of their individual pay, and should have every confidence that they are paid what they are owed.
As a result of this accessibility, Fung outlines there are fewer issues with the Premier Payroll Service, as employees have greater assurance in how their personal payroll has been produced. This saves a lot of time and headaches for both payroll administrators and employees by not having to address important pay-related questions.
This transparency afforded to the employee is even more significant, given that the Premier Payroll Service supports a multi-schedule tax system that can allow for time and travel for employees who work in different jurisdictions.
This is a highly complex capability of the Premier Payroll Service, and keeping in mind that employees can access this detail in real time makes it even more impressive.
The assurance of accuracy and the accountability supported through the transparency now means payroll can invoke “feel good” feelings. This positivity is due not only because of what one is paid (presuming a fair and competitive salary!), but also because of the access afforded to employees to see “how” they are paid.
Who would have ever thought that the mechanics of a payroll system could foster positive employee engagement? Keep in mind that if payroll was unreliable, inconsistent or inaccurate, we know that would foster employee disengagement, could undermine a positive work experience for the employee, lead to mistrust, and eventually potential turnover.
The negative implications of a poorly run payroll are huge and costly, not just from a regulatory perspective, but also for employees and management alike.
NetSuite must have considered this when they instituted a “No Penalties” guarantee. Providing the employer submits correct information on time, Netsuite guarantees that the Premier Payroll Service will process all deposits and filings accurately and on time. If not, then NetSuite will pay any resulting penalty.
This speaks volumes to NetSuites’ confidence in the Premier Payroll Service, and I am sure it also makes the end user more comfortable too.
Currently available in the U.S. as an add-on to TribeHR, or as a standalone system, the Premier Payroll Service’s accuracy guarantee becomes even more impressive when one considers the ability to manage all federal, state, and local jurisdiction requirements, and synchronously feed the required data into the integrated reporting platform of NetSuite.
Consistent with its global reach, global payroll aggregators are working on integration to TribeHR and NetSuite ERP, and that will expand opportunities further for TribeHR and the Premier Payroll Service.
Currently, there are NetSuite partners that have already built a NetSuite platform payroll that fully complements the Premier Payroll Service. An example is Infinet Cloud, which serves the Australian and New Zealand markets.
Clearly, synergies abound for TribeHR and the Premier Payroll Service. With its consistent focus on the employee as a primary stakeholder and user, NetSuite again has delivered a solid cloud product that not only delivers on the “nuts and bolts,” but that also provides a positive employee experience and fosters employee engagement.
