CloudPay Launches Enhanced Global Payroll Reporting Functionality, CloudPay Insights

RALEIGH, NC and LONDON, UNITED KINGDOM--(Marketwired - Aug 19, 2014) -  CloudPay, the pioneer of SaaS-based payroll automation for multinationals, today announced details of CloudPay Insights, its enhanced global payroll reporting solution. This robust capability gives organizations the ability to leverage big data to gain greater transparency into the real-time costs associated with their workforce by digging deep into their own comprehensive, multi-country payroll data.

In today's competitive business environment and still volatile economy, multi-national organizations must be able to respond and adapt to changing market conditions as rapidly as possible. CloudPay Insights solves this challenge by enabling companies to identify key workforce trends in their global payroll data to drive and support well-informed business strategies. Though often overlooked as a source of record, the information contained in a company's payroll data reveals crucial statistics on the true costs of compensating employees around the globe. Given the rise of big data and the benefits of utilizing the massive amount of information now available, CloudPay gives employers the tool to drill down into this data to identify hidden costs, spot important trends and make more effective business decisions.

The need for such a solution is a pressing one. According to research from the MIT Sloan Management Review and SAS Institute, a majority of professionals reported that their organizations are under pressure from senior managers to become more data driven and analytical. Yet, only 42 percent said they frequently have access to the data they need to make key decisions. At the same time, a report from McKinsey & Company found that the three factors necessary for developing a successful data-driven strategy are: choosing the right data, the ability to predict and optimize business outcomes, and transforming the company's capabilities. CloudPay Insights provides organizations with the tools to achieve those three aspects. As a result, companies can access real-time reporting metrics on their payroll data, enabling them to act on this information and bring immediate improvements to their payroll operations.