Mercans Triples Its Global Payroll Innovation Center Resources
May 13 2024 - 12:19PM
Business Wire
Payroll Tech Leader Makes a Strategic
Investment Into Innovation
Mercans, the global leader in Payroll technology, announced that
in the last 12 months, it has tripled its Global Innovation Center
R&D resources and significantly accelerated the launch of
technology improvements to its cutting-edge payroll technology
stack.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240513739114/en/
Payroll technology Leader Triples Its
Global Payroll Innovation Center Resources (Graphic: AETOSWire)
This follows the recent launch of its state-of-the-art global
gross-to-net calculation engine, G2N Nova. The stateless
application architecture has never before been successfully
deployed in the global payroll industry, and G2N Nova is the only
payroll engine that is able to generate 100% accurate gross-to-net
calculations for 100+ countries. And that’s not all, it does so
through a single, native platform in real-time without requiring
any Personal Identifiable Information (PII) of the client
resources.
Notably, this calc engine G2N Nova also laid the foundation for
incorporating blockchain technology into payroll processes,
allowing instantaneous and 100% tamper-proof verification of
payroll calculations and payments. This revolutionary 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.
Mercans’ latest hiring drive aims to support this innovation
along with building an ecosystem around integration capability,
keep on building & improving futuristic technology like
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 plans to focus on using AI in
data loading and post-processing, as these are comparatively
less-sophisticated to automate.
While many payroll providers utilize machine learning for task
automation, Mercans is elevating this approach with the
implementation of Robotic Process Automation (RPA) for automated
payroll data validation and real-time management of digital
processes.
“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”, says Martin Kangur, Deputy CTO of
Mercans.
“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”, says Tatjana Domovits, Group CEO,
Mercans.
About Mercans
Mercans is a global leader in payroll technology. Mercans’
revolutionary global payroll engine G2N Nova enables Enterprise
businesses & HCM providers to perform gross-to-net calculations
across 100+ countries.
To learn more about this innovation, visit mercans.com/g2n
LinkedIn
Source: AETOSWire
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240513739114/en/
Mohsin Khan hello@mercans.com Berkeley Square House, 2nd Floor,
Berkeley Square, London, UK.