Ramco Systems surges nearly 4 per cent on launching global payroll solution

Ramco Systems, a leading provider of enterprise software solutions, announced this morning that its Ramco Global Payroll is now available on Oracle Cloud Marketplace.   

As per the deal, Ramco will integrate its one payroll platform across more than 50 countries with Oracle Fusion Cloud Human Capital Management (HCM). This will result in enabling HR & payroll transformation for large enterprises.  

Ramco Global Payroll will enable organisations to comply with all statutory and regulatory requirements across these countries along with propelling seamless global payroll processes on a single platform. The solution also capitalises on its artificial intelligence/machine learning (AI/ML) capabilities to identify anomalies in payroll processing. In addition to this, it also automatically obtains reasons for these anomalies by using a reasoning engine. This enables the payroll team to focus only on outliers and boost productivity.  

Ramco Global Payroll is embedded with multiple features such as chatbots, voice, and facial recognition-based workforce management. As a result, organisations can deploy the solution on-cloud, on-premise, or leverage as a managed service.  

At 1.41 pm on Tuesday, the share price of Ramco Systems Ltd was trading at Rs 513.30, which was an increase of 3.76 per cent over previous day’s closing price of Rs 494.70 on BSE.