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Companies operating in France will soon benefit from an integrated cloud payroll system that helps simplify payroll processes
AUSTIN, Texas, May 31, 2022 /PRNewswire/ -- Oracle plans to deliver Oracle France Payroll, part of Oracle Fusion Cloud Human Capital Management (HCM). The new cloud payroll solution will help organizations manage compliance, automate workflows, and quickly process payroll for employees working in France. With the addition of Oracle France Payroll, Oracle Cloud HCM will provide built-in payroll support for 13 countries including Bahrain, Canada, China, Kuwait, Mexico, Qatar, Saudi Arabia, United Arab Emirates, United Kingdom, and the United States, with upcoming support for India and Oman.
France has one of the most complex payroll processes in Europe, requiring employers to report and withhold income for a variety of taxes on behalf of the country's 30 million workers. Additionally, organizations operating in France experience rapid and continuous legislative and regulatory changes, meaning payroll processes will often vary from one year to the next. To manage this complexity, organizations with employees working in France need the support and flexibility of a cloud-based payroll system that automatically updates to match current payroll and reporting needs.
"Payroll is one of the single most important functions for keeping a workforce running smoothly. Employees have zero tolerance for mistakes or delays when it comes to their compensation, no matter how complicated the local rules and regulations are," said Holger Muller, principal analyst, Constellation Research. "It's essential that organizations use a cloud-based payroll system that natively integrates with their core HR systems to automatically stay up to date with changes in regulations and their workforce. The upcoming launch of Oracle France Payroll is a huge opportunity for local and multinational companies operating in France to benefit from that integration in their HR and payroll operations."
Oracle France Payroll will help organizations save time and reduce payroll errors by eliminating manual processes and automating complex rules and calculations so customers can easily comply with tax and reporting obligations. Adding France-specific capabilities to Oracle Payroll will allow French companies and multinational organizations operating in France to grow with one global payroll solution.
Oracle France Payroll will provide the following benefits to organizations:
Built-in Compliance Rules: Will address regulatory and legislative requirements for processing payroll in France. As Oracle France Payroll is built in the cloud, it can adapt to France's frequently changing rules as needed. It will also give payroll administrators the flexibility to configure pay rules for different collective bargaining agreements, trade union activities, and complex regulations for minimum and variable wages.
Robotic Process Automation: Will help simplify payroll and data entry tasks for payroll administrators, enabling them to calculate payroll faster and more accurately. It will also help reduce errors in more complex work rules that are common in France.
Payroll Unified with Core HR: Will give Oracle France Payroll complete access to workforce data within Oracle Cloud HCM to help ensure that deductions for income, social, and other tax withholdings are managed correctly. This will also help organizations easily onboard new employees and get them paid quickly.
"In France, the government and collective bargaining groups are constantly changing the laws and agreements regarding taxes and compensation in hopes of improving working conditions for employees. That can make it challenging for organizations to stay up to date on the latest processes they need to follow to pay their employees accurately and fairly," said Chris Leone, senior vice president of development, Oracle Cloud HCM. "With Oracle France Payroll, local and multinational organizations with employees in France will be able to automate payroll operations to pay their workers quickly and accurately. Frequent and automatic updates will help ensure payroll operations are always in compliance, even as laws and contracts change."
See here for more information about Oracle Payroll: https://www.oracle.com/human-capital-management/payroll/
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