MIDDLETON, Mass., March 4, 2021 /PRNewswire/ -- Leading Global
Payroll software provider, Ramco Systems announced that it has
been named as a 2020 Technology Leader in Quadrant Knowledge
Solutions' SPARK Matrix Analysis of the global Multi-Country
Payroll Solution (MCP) market.
The Quadrant Knowledge Solutions SPARK Matrix™ includes a
detailed analysis of global retail execution market dynamics, major
trends, vendor landscape, and competitive positioning. The study
provides a competitive analysis and ranking of leading
multi-country payroll vendors in the form of its SPARK Matrix,
providing strategic information for users to evaluate different
vendor capabilities, competitive differentiation, and market
position.
According to Quadrant Knowledge Solutions, the multi-country
payroll market is currently transitioning from early adoption to
the rapid growth stage of the overall product lifecycle. While
multi-country payroll is essentially around for several years, the
current advanced solutions powered by robotic process automation,
advanced analytics, artificial intelligence, and machine learning
is increasingly gaining market traction across industry verticals
and various geographical regions.
Driven by the impact of COVID-19 on the global economy, major
industries across diversified areas, are facing significant
challenges and a negative growth rate. COVID-19 has also impacted
the market for overall digital transformation and enterprise
software, including the multi-country payroll (MCP) technology
market. The multi-country payroll platform market which has grown
by 18.5% in 2019 is expected to grow at a CAGR of 13.4% from
2020-2025. Despite of the fact that the majority of the technology
market is witnessing negative growth due to the on-going pandemic
across the global regions, the market growth for multi-country
platforms still has a positive growth in the year 2020.
"Ramco, with its comprehensive payroll solution equipped
with AI-driven and end-to-end payroll execution, has received
strong ratings across the parameters of technology excellence and
customer impact, and has been positioned amongst the top 3
technology leaders in the 2020 SPARK Matrix of the multi-country
payroll solution market", said Pallavi
Bothra, Analyst at Quadrant Knowledge Solutions. "The
company's platform is equipped with advanced NLP-based intelligent
chatbot service, machine learning, and RPA powered services to help
enterprises transform Payroll strategy by automating traditional HR
transactions, improving operational processes, and driving business
benefits across functions. With its robust technology platform,
comprehensive functional capabilities, and compelling product
strategy and roadmap, Ramco is well positioned to expand its market
share in the global multi-country payroll market".
Commenting on being positioned as a leader in the Multi Country
Payroll SPARK Matrix, Virender
Aggarwal, CEO, Ramco Systems, said, "Our focus on
leveraging artificial intelligence and machine learning in areas
such as anomaly detection, reasoning engine and self-explaining pay
slip have helped us stay ahead of others in the global payroll
market. With compliance across 50+ countries and a roadmap to add
12 more in the coming year, we continue to win the trust of Fortune
500 & MNCs looking for a seamless payroll experience. We thank
our customers and partners for supporting us in this journey which
has cemented us as a leading payroll provider with innovative edge
and delivering customer impact in the 2020 SPARK Matrix for
Multi-Country Payroll."
The global demand for multi-country payroll is increasing due to
the capability of the platform to seamlessly process the payroll
activity automatically, resulting in uniformity and reduction in
discrepancies apart from reducing the risk of human error.
Additionally, the platform's ability to adapt to the frequent &
dynamic improvements in compliances, ensures adherence to the
latest legal regulations, safeguarding them from future legal
actions. The multi-country payroll platforms are governed by the
requirement of global payroll, which would rise with the market
adoption of third-party payroll solutions against in-house
processing of payroll. This can only happen when the payroll
vendors provide a scalable, yet standardized payroll platform, as
per requirement.
About Ramco Systems
Ramco is a next-gen enterprise software player disrupting the
market with its multi-tenant cloud and mobile-based enterprise
software in HR and Global Payroll, ERP and M&E MRO for
Aviation. Part of the USD 1 billion
Ramco Group, Ramco Systems focuses on Innovation and Culture to
differentiate itself in the marketplace. On the Innovation front,
Ramco has been focusing on moving towards Active ERP leveraging
Artificial Intelligence and Machine Learning by building
features such as Talk It - which allows transactions to be carried
out by simple voice commands, Bot it – which allows users to
complete transactions using natural conversations; Mail It –
transact with the application by just sending an email; HUB It - a
one screen does it all concept built to address all activities of a
user; Thumb It – mobility where the system presents users with
option to choose rather than type values and Prompt It – a
cognitive ability which will let the system complete the
transaction and prompts the user for approval.
With 1800+ employees spread across 24 offices, globally, Ramco
follows a flat and open culture where employees are encouraged to
share knowledge and grow. No Hierarchies, Cabin-less Offices,
Respect work and not titles, among others are what makes the team
say, Thank God it's Monday!
For more information, please visit
https://www.ramco.com/payroll/
Follow Ramco on Twitter @ramcosystems /
@ramcopayroll and stay tuned to http://blogs.ramco.com
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting
firm focused on helping clients in achieving business
transformation goals with Strategic Business and Growth advisory
services. At Quadrant Knowledge Solutions, our vision is to become
an integral part of our client's business as a strategic knowledge
partner. Our research and consulting deliverables are designed to
provide comprehensive information and strategic insights for
helping clients formulate growth strategies to survive and thrive
in ever-changing business environments.
For more available research, please
visit https://quadrant-solutions.com/market-research/
Media Contacts
Vinitha Ramani
+91 9840368048
vinitharamani@ramco.com
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