Enterprises seek integrated, scalable,
compliant payroll systems that can serve remote workers and provide
on-demand wage access
New business models, a rapidly expanding remote workforce and
increasing demand for real-time, automated systems powered by AI
are driving payroll transformation, according to a new series of
research reports from leading global technology research and
advisory firm Information Services Group (ISG) (Nasdaq: III).
The ISG Payroll Management Buyers Guides, produced by ISG
Software Research (formerly Ventana Research), identify two trends
that are setting new expectations for payroll systems: the rise of
real-time payroll, which allows workers to access their earned
wages rather than waiting for the pay period to end, and the
increasing use of AI and machine learning to detect anomalies in
payroll data, ensure compliance with local laws and forecast
payroll expenses based on historical data.
“Demand for dynamic, real-time solutions that can handle the tax
implications of employees working across state and national borders
and the rise of real-time payroll is requiring enterprises to make
rapid adjustments,” said Matthew Brown, director of Research, Human
Capital Management, ISG Software Research. “Payroll systems must
keep pace with regulatory changes and align with broader HR and
organizational strategies to minimize risk, drive operational
efficiency and enhance employee experience.”
Payroll teams now collaborate more closely with HR and finance
departments, underscoring the need for modern payroll platforms
that integrate with other departments’ software and provide a more
holistic approach to workforce management, the reports say.
Enterprises are turning to AI- and cloud-based payroll systems
to accomplish those goals. AI-powered systems analyze local labor
laws, apply that analysis to payroll calculations and ensure
compliance across multiple jurisdictions. Cloud-based payroll
systems offer scalability, flexibility and enhanced security
compared with traditional on-premises systems while enabling
organizations to manage payroll operations from anywhere in the
world.
While AI and automation offer new tools for compliance, many
organizations are still grappling with the challenges of adapting
legacy systems to contemporary software, the Buyers Guides say.
Enterprises may also be missing opportunities to capitalize on
the use of payroll systems as tools that offer a unique touchpoint
for communicating important updates, sharing benefits information
or highlighting key company initiatives. The reports say
integrating communication into payroll can help companies foster a
stronger connection with the workforce.
For its 2024 Payroll Management Buyers Guides, ISG evaluated
software providers across five platform categories – Payroll
Management, Global Payroll, International Payroll, Multi-Country
Payroll, and US Payroll – and produced a separate Buyers Guide for
each. A total of 24 providers were assessed: ADP, BambooHR,
Darwinbox, Dayforce, Deel, Gusto, Infor, isolved, Namely, Neeyamo,
Netchex, Oracle, Oyster, Papaya Global, Paychex, Paycom, Paycor,
Paylocity, Rippling, SAP, UKG, Unit4, Workday and Zellis.
ISG Software Research designates the top three software
providers as Leaders in each category. For the 2024 study, the
leading providers in ranked order are:
Payroll Management: ADP, Oracle and UKG Global
Payroll: ADP, Oracle and UKG International Payroll: ADP,
Oracle and UKG Multi-Country Payroll: ADP, Oracle and UKG
US Payroll: ADP, Oracle and UKG
“The future of payroll is not just about processing payments,”
said Mark Smith, partner of Software Research at ISG. “It’s about
creating a more agile, compliant and worker-centered function that
supports the long-term success of the organization. Now is the time
for organizations to take the next step and make payroll a driving
force for positive change.”
The ISG Payroll Management Buyers Guides are the distillation of
more than a year of market and product research efforts. The
research is not sponsored nor influenced by software providers and
is conducted solely to help enterprises optimize their business and
IT software investments.
Visit this webpage to learn more about the ISG Payroll
Management Buyers Guides and read executive summaries of each of
the five reports. The complete reports, including provider rankings
across seven product and customer experience dimensions and
detailed research findings on each provider, are available by
contacting ISG Software Research.
About ISG Software Research
ISG Software Research, previously Ventana Research, provides
authoritative market research and coverage of the business and IT
software industry. It distributes research and insights daily
through its user community, and provides a portfolio of consulting,
advisory, research and education services for enterprises, software
and service providers, and investment firms. Its on-demand service
provides structured education and advisory support through
subject-matter experts. ISG Buyers Guides support the RFI/RFP
process and help enterprises evaluate and select software providers
through tailored assessment services and the ISG Software Research
Value Index methodology. Visit www.ventanaresearch.com for more
information and to sign up for free community membership.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including AI, cloud and data analytics; sourcing advisory; managed
governance and risk services; network carrier services; strategy
and operations design; change management; market intelligence and
technology research and analysis. Founded in 2006, and based in
Stamford, Conn., ISG employs more than 1,600 digital-ready
professionals operating in more than 20 countries—a global team
known for its innovative thinking, market influence, deep industry
and technology expertise, and world-class research and analytical
capabilities based on the industry’s most comprehensive marketplace
data. For more information, visit www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20250110519604/en/
Press Contacts: Will Thoretz, ISG +1 203 517 3119
will.thoretz@isg-one.com Julianna Sheridan, Matter Communications
for ISG +1 978 518 4520 isg@matternow.com
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