[India] Darwinbox enables first 100% digital payroll processing

In India, HR tech platform Darwinbox has announced the launch of a next-gen payroll platform with its proprietary RIVeR framework that brings all payroll stakeholders onto one platform and ensures that payroll is managed through one system and one dashboard. The very first time this option has been available in the country, PR Newswire reports.

The RIVeR (Review, Initiate, Verify & e-approve, Release & Report) framework is a modern 4-step approach to payroll management intended to bring payroll 100 per cent online, making it easy, accurate, and audit-ready with one system, one process, and one dashboard for managing payroll across diverse geographies. According to Darwinbox, the intention is to make global payroll processes more streamlined and efficient.

Existing Payroll systems in India reportedly struggle to achieve a clear view of the entire payroll process, leading to an increase in manual intervention, high payroll errors, increased audit risks and wastage of time in validating and reconciling payroll inputs. Reconcilation and Verification are still done manually, leaving scope for leakages that amount to significant financial loss. Such challenges only aggravate as businesses scale, particularly across new locations.

The new integrated payroll offering - built on Darwinbox's HCM platform which covers the entire employee lifecycle from hire to retire - is designed to address enterprises' unique and complex payroll needs. With over 1.2 million payslips processed monthly across geographies, Darwinbox says its solution will redefine payroll management, offering a transformative experience for organisations.

Darwinbox's enhanced payroll solution offers:

• Automated Data Flows
• In-the-Flow Reconciliation & E-Verification for 100% digital payroll
• Robust Control and Compliance

Chaitanya Peddi - Darwinbox Co-Founder - said, "The existing payroll systems in market needed an upgrade to meet the evolving needs of large enterprises, which still face complexity and leakages in managing payroll. With this latest innovation, organizations can now consolidate all payroll operations into a single system and dashboard, streamlining processes across geographies and involving all stakeholders. In an industry first, payroll processes like verification and approval are now fully online."

He added, "We've developed this new payroll platform on a powerful processing engine and reporting framework that seamlessly supports geo-specific localization. This same framework will soon be extended to other regions across Southeast Asia and the Middle East, where our customers operate."

Source: PR Newswire

(Quotes via original reporting)

In India, HR tech platform Darwinbox has announced the launch of a next-gen payroll platform with its proprietary RIVeR framework that brings all payroll stakeholders onto one platform and ensures that payroll is managed through one system and one dashboard. The very first time this option has been available in the country, PR Newswire reports.

The RIVeR (Review, Initiate, Verify & e-approve, Release & Report) framework is a modern 4-step approach to payroll management intended to bring payroll 100 per cent online, making it easy, accurate, and audit-ready with one system, one process, and one dashboard for managing payroll across diverse geographies. According to Darwinbox, the intention is to make global payroll processes more streamlined and efficient.

Existing Payroll systems in India reportedly struggle to achieve a clear view of the entire payroll process, leading to an increase in manual intervention, high payroll errors, increased audit risks and wastage of time in validating and reconciling payroll inputs. Reconcilation and Verification are still done manually, leaving scope for leakages that amount to significant financial loss. Such challenges only aggravate as businesses scale, particularly across new locations.

The new integrated payroll offering - built on Darwinbox's HCM platform which covers the entire employee lifecycle from hire to retire - is designed to address enterprises' unique and complex payroll needs. With over 1.2 million payslips processed monthly across geographies, Darwinbox says its solution will redefine payroll management, offering a transformative experience for organisations.

Darwinbox's enhanced payroll solution offers:

• Automated Data Flows
• In-the-Flow Reconciliation & E-Verification for 100% digital payroll
• Robust Control and Compliance

Chaitanya Peddi - Darwinbox Co-Founder - said, "The existing payroll systems in market needed an upgrade to meet the evolving needs of large enterprises, which still face complexity and leakages in managing payroll. With this latest innovation, organizations can now consolidate all payroll operations into a single system and dashboard, streamlining processes across geographies and involving all stakeholders. In an industry first, payroll processes like verification and approval are now fully online."

He added, "We've developed this new payroll platform on a powerful processing engine and reporting framework that seamlessly supports geo-specific localization. This same framework will soon be extended to other regions across Southeast Asia and the Middle East, where our customers operate."

Source: PR Newswire

(Quotes via original reporting)