Human Capital Management (HCM) accounts for a good chunk of operating costs for most organizations. Between salaries, bonuses, and benefits packages, the cost of keeping a workforce healthy, motivated, and rested can easily surpass the cost of other overhead. Understanding the impact of payroll on a company's balance sheet is enormously important to its success. The ability to access and analyze payroll information can have great benefits for identifying trends and needs, ultimately paving the way for running a lean and effective business.
Many customers have approached us to request support for further analysis of payroll data and we've built some features into Oracle Fusion Analytics Warehouse (FAW) to do just that. With the December release of FAW (21.R3), you can access more than 40 prebuilt measures that are based on payroll run balances that support time dimensions and don't rely solely on pay-period based reporting.
Payroll can account for as much as 70 percent of an organization's HCM data and in large organizations, these data stores can be both vast and disparate. Organizations must also account for hugely different laws across the globe. The challenge of creating powerful ways of reporting on such large volumes of complex data both quickly and efficiently is one that we take very seriously, and one which we find FAW increasingly well-equipped to handle. Oracle Cloud Payroll customers might be familiar with using OTBI for reporting. FAW complements transactional reporting and extends it, offering prebuilt functionality, improved performance, and streamlined analytics.
The key differentiators of subject areas for payroll management in FAW over Oracle Transactional Business Intelligence (OTBI) are:
Key points about FAW payroll subject areas:
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The tiles at the top of Figure 1 are some of the default measures that correlate to FAW subject areas. In regard to balances, OTBI provides only pay-period based reporting because of its lack of time-dimension support in its Payroll Balances subject area. In contrast, with this FAW payroll offering, you can report on data on year-to-date, month-to-date, and quarter-to-date balances across any time period and any dimension. Our tests with these dashboards have shown them to load quickly even when accessing large data stores.
Figure 1.
Figure 1a.
These tiles can display your spread of earning — across regular employees and temporary employees or even different payrolls — in just a glance. The same analysis can also be performed across any other dimensions.
This provides quarter-to-date, year-to-date, and month-to-date data, easily selectable in a self-service way. Suppose that you have monthly payroll customers and you want to see your quarter-to-date balance. You don't have to perform multiple inline selects as you would in Oracle Business Intelligence Publisher or OTBI. You can prepare a report in just about one mouse click.
Suppose that you have biweekly payrolls and you want to see the aggregate value on a monthly basis. In Figure 2, the payroll dates were July 1st and 31st. The fifth column (Supplemental Earnings (MTD)) automatically calculates the total payroll cost for supplemental earnings in the month of July.
Figure 2.
With time-dimension support in FAW, you can create an analysis to view trends across any time period. Figure 1 shows Total Standard Earning , Supplemental Earnings for a selected Year , across all pay periods.
For example, you might ask the question: "What are the earning trends across different departments or any other dimension within a specific year?" You can easily get answers to such questions with visualizations. (See Figure 3a.)
Figure 3a.
If you're a payroll analyst, you might not be interested in looking at trends, but instead at how your cost is increasing across pay periods. You might want to pinpoint any anomalies (such as if somebody is getting paid more overtime and why). These types of visualizations allow you to discover such insights quickly and then to drill deeper into them to guide your business. For example, this visualization shows the growth rate and variance for supplemental earnings across years and months.
Figure 4.
Support for multiple tax legislations - Reporting and analyses aren't limited to US payroll legislations. Figure 4 shows the page in FAW for non-US legislations. In this example, you can see employee data listed for Mexico.
Figure 5
With recent FAW release , As payroll balances brings a huge volume of data , now customers will be required to setup Balance Group in Cloud HCM environment and FAW pipeline will only fetch balances data as per setup present at balance group. Requried balance group name is - ' Global BI Balance Group'. Sample setup details have been shared via customer connect post : FAW- Payroll - Customer Connect Post Reference
After 1st time pipeline is run and source payroll data is synced to FAW then customer can use Payroll Metric config UI to add additional legislations in OOTB measures and also modify the combination of the formula.
Steps to Use - Payroll Metric Configuration
Oracle Fusion Analytics helps create detailed reports, customized for each user, long after payroll processing is completed. It provides a quick look into deeply stored data, saving you from diving into the massive reporting files of yesterday. Now you can have the answers to your specific questions delivered to your browser to guide you in your most critical business decisions.
Check out this demo video on Payroll Analytics.
Tune into this podcast on Payroll Analytics.
Schedule a meeting today to talk to the Oracle Analytics product team and learn more about how you can deploy Oracle Fusion Analytics Warehouse.
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