MERCANS
13.5.2024 18:20:35 CEST | Business Wire | Press release
Mercans, the global leader in Payroll technology, announced that in the last 12 months, it has tripled its Global Innovation Center R&D resources and significantly accelerated the launch of technology improvements to its cutting-edge payroll technology stack.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240513739114/en/
Payroll technology Leader Triples Its Global Payroll Innovation Center Resources (Graphic: AETOSWire)
This follows the recent launch of its state-of-the-art global gross-to-net calculation engine, G2N Nova. The stateless application architecture has never before been successfully deployed in the global payroll industry, and G2N Nova is the only payroll engine that is able to generate 100% accurate gross-to-net calculations for 100+ countries. And that’s not all, it does so through a single, native platform in real-time without requiring any Personal Identifiable Information (PII) of the client resources.
Notably, this calc engine G2N Nova also laid the foundation for incorporating blockchain technology into payroll processes, allowing instantaneous and 100% tamper-proof verification of payroll calculations and payments. This revolutionary approach creates a permanent, unchangeable record of real-time payroll transactions and amounts, solidifying the foundation for third parties, including financial institutions and tax authorities.
Mercans’ latest hiring drive aims to support this innovation along with building an ecosystem around integration capability, keep on building & improving futuristic technology like dynamic, hyper-intelligent data parser that is exclusively designed for the payroll industry, and embedding AI and ML into Payroll processing. In the near-term, Mercans plans to focus on using AI in data loading and post-processing, as these are comparatively less-sophisticated to automate.
While many payroll providers utilize machine learning for task automation, Mercans is elevating this approach with the implementation of Robotic Process Automation (RPA) for automated payroll data validation and real-time management of digital processes.
“In the future, AI use in case management will be widespread. AI is already starting to be used for this function, for example, we're exploring the use of Large Language Models to develop naturalistic service bots”, says Martin Kangur, Deputy CTO of Mercans.
“With the speed of advancement in AI capability, it is important for organizations to have the correct data protection protocols. For example, knowing what data is being held, where it is stored, and in which countries your organization is considered to be a data controller or processor. This process will become more complex once AI is involved, especially if AI tools are not entirely controlled by your organization”, says Tatjana Domovits, Group CEO, Mercans.
About Mercans
Mercans is a global leader in payroll technology. Mercans’ revolutionary global payroll engine G2N Nova enables Enterprise businesses & HCM providers to perform gross-to-net calculations across 100+ countries.
To learn more about this innovation, visit mercans.com/g2n
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Source: AETOSWire
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