Analytic programs can help make any human resources activity more effective. But few programs have as much potential for immediate financial benefit as Payroll Analytics. The time clock is just the beginning: when you consider it along with other sources of human resources information, it becomes a rich source of data about what work is getting done — or not getting done.
Sometimes, there are workers who abuse the system through outright time clock fraud, or by abusing pay policy and payment rules. When that happens, organizations can lose revenue or overspend, and the financial implications can be serious. They might see excessive claims for overtime or bonus pay, discretionary pay practices that have been manipulated, or their policy enforcement tools watered down by inconsistent set-up. Unfortunately, standard audits and management practices don't find or stop these problems. In fact, most organizations don't even know how much money they lose through this kind of abuse, because they fail to recognize it when it occurs or fail to understand its causes.
Payroll Analytics can help you spot and address fraud, waste, and abuse, with speed and accuracy.
Payroll Analytics can change this. Similar to programs designed to eliminate expense account abuse, Payroll Analytics applies advanced algorithms to spot inconsistencies in time reporting, based on comparisons to public and private data. Rather than relying exclusively on back-end processes and reports, managers can use Payroll Analytics to flag potential anomalies and guide enforcement.
By sifting through millions of hours of reported work and matching it against other HRIS data, we create a model that lets you find, understand, and quantify your payroll problems. And to prevent them from recurring, our approach also includes a corrective action plan deployed to prevent, avoid or influence the issues.
Our Payroll Analytics services complement other PwC talent analytics and predictive services programs by extracting even more insights from your HR Big Data. We use advanced statistical techniques to find the hidden patterns, so you can anticipate rather than react. From surveys and benchmarking to predictive services and workforce analytics strategy, we help our clients make fact-based decisions about human capital, creating meaningful change for employees, teams, and entire organizations.
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