Fairsail Payflow Extensions for Financials Integrates Company’s Leading HR System with Multiple Financial, Accounting and General Ledger Systems
ORLANDO, Fla. (October 19, 2015) – Fairsail, provider of award-winning global cloud HRIS for the mid-market, today introduces Fairsail Payflow extensions for financials, providing a new level of interconnectedness between HR and financial operations, enabling companies to better understand their employee-related costs and improve strategic decision making.
For cloud HR systems to be truly effective in meeting the complete needs of today’s organizations, they must be able to integrate with existing on premise and other cloud applications. Fairsail has long delivered such capability through Fairsail Payflow, a secure, highly configurable set of services that integrate Fairsail’s HR system to other systems, such as payroll providers and benefit carriers. Through two-way synchronization, companies can reduce costs, eliminate the manual re-keying of HR data into payroll systems, increase payroll accuracy and gain a global view of staff across multiple regions and countries.
With the launch of Fairsail Payflow extensions for financials, the company has built out new functionality to interface with finance, accounting and general ledger applications, enabling workforce-related accruals and reversals to be passed automatically to financial journals and accounts. As a result, companies can keep their accounting applications synchronized with current, accurate and consistent global workforce information, which in turn feeds reports, dashboards and analytics.
Additional benefits of Fairsail Payflow extensions for financials includes:
• Greater choice: Fairsail Payflow extensions for financials provides customers with greater choice and flexibility, enabling them to leverage best-of-breed applications rather than being locked into inferior modules in suites from single vendors. Fairsail’s ‘configure not code’ implementation ensures users benefit from rapid integration and an affordable alternative to deploying monolithic application suites.
• Integration with payroll: Companies can further align their HR, payroll and financial activities. As a result, they can reduce the need for multiple manual entries into different systems without having to reconcile inconsistent data or perform time-consuming data aggregation.
• Single source of truth: Fairsail connects islands of data in different systems removing costly errors caused by inaccurate or inconsistent information.
• Improved visibility: With integrated reporting, charts and dashboards, users gain actionable insights for all employee-related costs and expenses across the organization. Meanwhile management teams gain accurate information for operational and strategic decision making, enabling them to spend more time on the business instead of trying to understand data.
“The ability to align HR activities with financial operations is key to better understanding actual employee-based costs and making important talent decisions more easily,” said Adam Hale, CEO of Fairsail. “By introducing Fairsail Payflow extensions for financials, we can help companies link HR to their finance systems, providing greater visibility, eliminating time-consuming manual processes and giving them accurate insight into the costs of running the people aspect of their business. Fairsail has long been committed to delivering the robust, cloud-based solutions that enable companies to break down barriers separating important and interrelated business functions.”
Fairsail will exhibit Fairsail Payflow extensions for financials and its other cloud-based HR solutions during the 18th Annual HR Technology Conference & Expo taking place at the Mandalay Bay Hotel & Casino in Las Vegas October 18-21, 2015. Attendees can visit Fairsail at booth no. 835 to learn more about its cutting-edge innovations.
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