Stock up by 2.5 per cent: Deloitte partners with this small cap software company to redefine global payroll services

Foreign Institutional Investor (FII) holdings in the stock have surged on a quarter-over-quarter basis, standing at 9.69 per cent in September 2023

In a strategic move set to redefine the payroll landscape, Deloitte Touche Tohmatsu India LLP has partnered with Ramco Systems Limited, a global payroll technology provider, aiming to usher in comprehensive global payroll services powered by robust technology. This collaboration combines Ramco's cutting-edge payroll platform with Deloitte's expert advisory and managed services, promising an all-encompassing payroll solution with seamless user experience and compliance coverage across 150+ countries, accessible through a unified platform.

The partnership offers organizations a unique opportunity to leverage a full spectrum of services, including risk reduction through seamless integration, faster delivery, performance optimization, and enhanced visibility. Gokul Chaudhri, President, Tax, Deloitte Touche Tohmatsu India LLP, emphasizes the need for swift and adaptable digital infrastructure in the ever-evolving tax landscape. The strategic partnership with Ramco signifies a commitment to empowering businesses globally, ensuring quality and excellence irrespective of geographical location or operational scale.

Key highlights of the partnership include a focus on compliance with secured and accurate managed services, expat compliances, last-mile services, a global payroll view in a single product, seamless implementation, certified connectors with global HCM providers, and query assistance through chatbot and helpdesk. The collaboration aims to provide complete solutions, covering individual tax compliance, advisory services in payroll, and advisory services in human capital.

Transitioning to information about Ramco Systems, the enterprise software provider has seen consistent growth, with recurring revenue up by 14 per cent year-over-year for the last quarter (Q2FY24). Cloud orders contribute around 50 per cent of revenue, and the Asia region has witnessed an impressive 86 per cent surge in the order book. Additionally, the company is exploring opportunities in defence, particularly in the Maintenance, Repair, and Overhaul (MRO) sector, and considering expansion in small business areas, including the Indian market.

Foreign Institutional Investor (FII) holdings in the stock have surged on a quarter-over-quarter basis, standing at 9.69 per cent in September 2023 compared to 0.07 per cent in September 2022. As of the latest market update, the company's stock has seen a positive movement, up by more than 2.5 per cent for the day. Furthermore, over the past month, the company's stock has delivered a noteworthy 10 per cent return. Investors should keep an eye on this Small-Cap IT software company.
 

Disclaimer: The article is for informational purposes only and not investment advice.