Ramco Systems Ltd, the Chennai-based IT company, on Friday launched Ramco Payce, a platform-based payroll software. Payce capitalises on advanced technologies such as serverless in-memory, data analytics, artificial intelligence and machine learning, along with Ramco’s two decades of performance in this domain to help enterprises process payroll faster, effortlessly and accurately while being easy to use, said the company’s CEO Sundar Subramanian.
A client can implement Payce in less than six weeks while it used to take 4-5 months to implement an HR management solution, he told newspersons on Thursday.
The company’s payroll solution is being used by nearly 500 customers globally generating about 36 million payslips annually. Some of the existing clients may migrate to Payce over a period of time. New clients will be offered Payce while the company’s HRM solution will be slowly phased, he said.
Payce also facilitates remote access and management of payroll data. This fosters decision-making at any location and time, minimising delays and optimising payroll management, he said.
User-centric
Rohit Mathur, SVP and SBU Head, HR and Payroll, Ramco Systems, said, a team of 60 members worked for 15 days to design the product, and it took nearly 18 months to launch Payce.
Payce will empower payroll professionals, enabling them to navigate with efficiency and ease, offering them a modern, user-centric and lightning-fast payroll processing solution with zero technical intervention, he added.
Ramco’s share price on the NSE closed at ₹303.60, down by 3.10 per cent.