Redwood City, Calif., October 8, 2014 – Replicon, the leader in cloud-based time tracking software, today announced the first and only out-of-the-box support for pre-configured pay rules that cover all U.S. states, all Canadian provinces and most European and Asian countries. With this library of pay rules, businesses can rapidly deploy a time and attendance solution, without time-consuming, expensive customization work. The solution is available in North America now, and will be available worldwide in Q2 2015.
Compliance library accommodates specific regional needs
Replicon’s highly adaptive compliance library provides powerful capabilities that automate complex global payment calculations to deliver accurate gross pay and mitigate non-compliance risk. Organizations can easily configure various pay rules in Replicon that apply custom calculation logic to the time entered by employees, and determine at the exact gross pay required by policy. Additionally, the compliance library supports multi-state taxation, enabling organizations to easily manage tax requirements for employees who work in multiple states.
Key capabilities include:
- Pre-configured pay rule library. Preconfigured pay rules cover all U.S. states, all Canadian provinces and most European and Asian countries—no customization necessary.
- Multi-state taxation support. The ability to easily support taxation scenarios for employees who work in multiple states.
- Global Support. Flexible calculation logic can be defined to meet global business requirements.
“Many companies worldwide struggle to stay compliant,” said Raj Narayanaswamy, Co-CEO at Replicon. “As the workforce evolves to include people from different generations, working at different locations and connecting with mobile devices, companies are struggling to meet regulatory requirements. Replicon’s solutions, which include the new compliance library, are essential to helping companies reduce errors, improve financial reporting accuracy and manage compliance risk.”