Payroll
HCG Prevision Payroll Planning and Forecasting delivers the tools and information managers need to make effective decisions regarding future compensation for individuals, departments, and entire organizations. Easily configurable, Prevision Payroll Planning and Forecasting makes it simple to tie a company's compensation and benefits process and business rules into solutions.
Working online with live data, managers can rapidly develop and review their salary budgets, guidelines, and assumptions and determine the best way to allocate resources based on any combination of fixed, variable, or zero-based methodologies.
With Prevision Payroll Planning and Forecasting, managers can:
- Complete payroll and labor BI solution for monthly, biweekly, weekly, or daily pay periods forecasting.
- Fully integrate with any payroll systems including ADP, Sage, Kronos and many others
- Use native department, employee codes, pay codes, earnings codes, and job codes, eliminating pre-mapping.
- Track, report, and forecast on wages, benefits, hours, and FTEs
- Automate and manage the individual department budget submission and approval process with the Prevision user-defined Process Control Module
- Experience unlimited scenario and versioning capabilities for all global assumptions, labor rates, tables, allocations, and departmental budgets. Also track changing comments made by the budget managers down to the individual account level.
- Forecast based on productive, non-productive, union, temp, hourly, and salaried employees as well as by individual employee, job code summary, or a hybrid of the two.
- Include Global Assumptions Module with general defaults, inflation table, payroll benefits table, and statistical/volume table
- Include standard, cost center defined budget template with standard payroll methodologies
- Manage one-time payouts, such as bonus disbursements
- Direct ODBC connection to payroll system for added security
- Upload forecast results to other software applications
HCG Prevision supports the standard 5 forecasting techniques, including Direct Managerial Input, Best Guess, Historical Ratios, Process Analysis, and Scenario Analysis. But Prevision is flexible enough and easily configurable to conform to specific organizational requirements.