June 10, 2024

Payroll Power Hour Recap

In today's rapidly shifting payroll landscape, organizations face unprecedented challenges requiring innovative solutions. That's why Workday and OneSource Virtual (OSV) recently partnered for the insightful "Payroll Power Hour" webinar.

The panel for this webinar included:

  • Sherry Yarbrough, Principal Product Manager Payroll, Workday
  • Debbie Williams, Sr. HCM Solution Consultant, Workday
  • Aaron Paul, Solution Consultant, OneSource Virtual

Keep reading for a summary of the major points from this event. You can also watch a full replay with code 0N9AS&hz to see the product demos for Workday and OSV.

The payroll landscape

According to data from Sapient Insights, 50% of organizations plan to overhaul their payroll systems in the next couple of years. This is significant, considering that most companies will keep a payroll platform for approximately nine years. That’s a long time in technology years. Consider how drastically payroll technology has transformed in the nine years since 2015 — and now extrapolate that rate of change to 2033.

But no matter what year it is, one thing will always be the same — accurate and timely payroll is mission-critical. You have to excel at the basics.

But from there, companies have a lot to consider:

  • Do I want to outsource, keep everything in-house, or have a mix?
  • Will the solution I’m considering make my processes more or less scattered?
  • Does this new direction help me with specific, measurable goals?

This last bullet point is crucial because if you don’t know what you’re aiming for, how will you know if you’ve succeeded?

The changing world of payroll

Today, payroll has more responsibilities than ever, and change comes faster than it used to. Not only is payroll expected to leverage data and insights to help with planning and strategy, but it also has to consider financial well-being.

With new expectations and a growing to-do list, it’s becoming increasingly important for companies to have long-term solutions. Imagine how beneficial it would be if your solution still met your needs nine years from now while other companies are investing in new platforms.

Unfortunately, many teams face system limitations that increase their manual workload.

The best solutions will use automation, AI, and machine learning in human-centric ways to help employees reduce manual work and preventable errors. This will allow them to focus on more strategic, value-additive priorities. Having a service partner that also leverages these technologies only makes things better.

“The concept of AI and ML at Workday is allowing that human-centric approach where it’s not taking and doing payroll for you. It’s allowing you to make better and quicker decisions.” – Sherry Yarbrough, Principal Product Manager Payroll, Workday

Better together – Workday & OSV

From the start, Workday has always distinguished itself from the competition with its “Better Together” approach. It offers companies a strong, integrated solution designed for sustainable growth. It’s highly configurable and can manage specific payment requirements through a real-time calculation engine. In addition, built-in analytics allow for reporting, auditing, and data-driven decision-making using payroll data.

“Better Together” can also describe the experience of using Workday with OneSource Virtual.

We’re often asked, “Where does Workday stop and OSV begin?”

The answer is simple: Workday remains your source of truth and your core technology, but we complement its capabilities through flexible, comprehensive solutions for employee payments, payroll tax filings, garnishment administration, and more. All these solutions are purpose-built for Workday and delivered by a team of certified experts. We also provide unparalleled visibility and self-service through OSVAtmosphere, where you can check the real-time status of payroll processing and view employee-level details.

“We're a proud partner to over 880 organizations for payroll services, including some of the most recognizable names in various industries. Plus, our volume of over $185 billion in Treasury funds moved annually, and multiple banking relationships really ensure we're able to weather any external disruptors that could impact payroll, which really provides you with peace of mind and security.” - Aaron Paul, Solution Consultant, OneSource Virtual 

You won’t need to create or maintain a separate integration, though. We manage everything within Workday, eliminating the need for tedious and error-prone data transfers and minimizing reconciliation. Like Workday, our cloud-based technology and services also scale with your business. Whether you have a few hundred employees or hundreds of thousands, our solutions are tailored to meet your needs and help you proactively solve errors before they become issues.

Watch the on-demand webinar to see Workday and OSV in action

The combination of Workday and OSV can revolutionize your organization’s payroll experience. But you don’t have to take our word for it. Watch the on-demand webinar with code 0N9AS&hz to see demos for both Workday and OSV. This unparalleled combination delivers the accuracy, compliance, expertise, and data-driven insights you need to stay ahead of the curve amidst payroll's unrelenting evolution.





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