[Global] Mercans triples Global Innovation Center R&D resources

Global payroll technology provider Mercans has announced the tripling of its Global Innovation Center R&D resources over the last 12 months and a significant acceleration in launching technology improvements to its payroll technology stack, Business Wire reports.

Mercans’ announcement follows the recent launch of G2N Nova, its state-of-the-art global gross-to-net calculation engine. 

G2N Nova is reportedly the only payroll engine able to generate 100 per cent accurate gross-to-net calculations for 100+ countries. It does so through a single, native platform in real-time without requiring any Personal Identifiable Information (PII) of the client resources.

The calc engine G2N Nova also laid a foundation for incorporating blockchain technology into payroll processes, allowing instantaneous and tamper-proof verification of payroll calculations and payments. This approach creates a permanent, unchangeable record of real-time payroll transactions and amounts, solidifying the foundation for third parties, including financial institutions and tax authorities.

According to Mercans, its latest hiring drive is intended to support this innovation together with building an ecosystem around integration capability, continuing to build & improve futuristic technology such as a dynamic, hyper-intelligent data parser that is exclusively designed for the payroll industry and embedding AI and ML into Payroll processing. 

In the near term, Mercans reportedly plans to focus on using AI in data loading and post-processing, because these are comparatively less sophisticated to automate.

Many payroll providers utilise machine learning for task automation, however, Mercans says it is elevating this approach with the implementation of Robotic Process Automation (RPA) for automated payroll data validation and real-time management of digital processes.

Martin Kangur - Deputy CTO of Mercans - said, “In the future, AI use in case management will be widespread. AI is already starting to be used for this function, for example, we're exploring the use of Large Language Models to develop naturalistic service bots.”

Tatjana Domovits - Group CEO, Mercans - said, “With the speed of advancement in AI capability, it is important for organizations to have the correct data protection protocols. For example, knowing what data is being held, where it is stored, and in which countries your organization is considered to be a data controller or processor. This process will become more complex once AI is involved, especially if AI tools are not entirely controlled by your organization.”

Source: Business Wire

(Quotes via original reporting) 

Global payroll technology provider Mercans has announced the tripling of its Global Innovation Center R&D resources over the last 12 months and a significant acceleration in launching technology improvements to its payroll technology stack, Business Wire reports.

Mercans’ announcement follows the recent launch of G2N Nova, its state-of-the-art global gross-to-net calculation engine. 

G2N Nova is reportedly the only payroll engine able to generate 100 per cent accurate gross-to-net calculations for 100+ countries. It does so through a single, native platform in real-time without requiring any Personal Identifiable Information (PII) of the client resources.

The calc engine G2N Nova also laid a foundation for incorporating blockchain technology into payroll processes, allowing instantaneous and tamper-proof verification of payroll calculations and payments. This approach creates a permanent, unchangeable record of real-time payroll transactions and amounts, solidifying the foundation for third parties, including financial institutions and tax authorities.

According to Mercans, its latest hiring drive is intended to support this innovation together with building an ecosystem around integration capability, continuing to build & improve futuristic technology such as a dynamic, hyper-intelligent data parser that is exclusively designed for the payroll industry and embedding AI and ML into Payroll processing. 

In the near term, Mercans reportedly plans to focus on using AI in data loading and post-processing, because these are comparatively less sophisticated to automate.

Many payroll providers utilise machine learning for task automation, however, Mercans says it is elevating this approach with the implementation of Robotic Process Automation (RPA) for automated payroll data validation and real-time management of digital processes.

Martin Kangur - Deputy CTO of Mercans - said, “In the future, AI use in case management will be widespread. AI is already starting to be used for this function, for example, we're exploring the use of Large Language Models to develop naturalistic service bots.”

Tatjana Domovits - Group CEO, Mercans - said, “With the speed of advancement in AI capability, it is important for organizations to have the correct data protection protocols. For example, knowing what data is being held, where it is stored, and in which countries your organization is considered to be a data controller or processor. This process will become more complex once AI is involved, especially if AI tools are not entirely controlled by your organization.”

Source: Business Wire

(Quotes via original reporting)