Patersons HR and Payroll Solutions Says a Growing Number of Global Companies Unknowingly Increase Risk for Data Security and Fraud
Extra Layers of Protection -- External Audits and Inspections -- Can Improve Regulatory Compliance
| Source: Patersons HR and Payroll Solutions
RALEIGH, NC and SALISBURY, UK--(Marketwire - February 9, 2009) - As global communication
becomes ever easier and transferring funds and data becomes even more
transparent, the avenues for fraud increase. Any data that is
inappropriately used could expose a company to risks of identity fraud or
monetary or credit abuse.
Within the human resources arena, there are added risks involving medical,
religious belief, trade union and other personnel information that may be
used against an individual. Payroll is also fraught with risk since much of
the data often includes an employee's name, address, company details, work
numbers and bank account details -- all of which can be used
inappropriately.
To combat these risks, organizations increasingly rely on technology to
provide security for the infrastructure, operation and implementation of
their business functions. In addition, the trend toward offshoring also can
expose business data to additional risks. Regulations such as the
Sarbanes-Oxley (SOX) Act, the U.K. Data Protection Act and EU legislation
are in place to protect the technology and provide necessary controls.
"The impact of these data protection acts -- and the likelihood that
further regulations are imminent -- is that compliance will become more
stringent over time. Companies can't afford to be noncompliant with respect
to SOX or other regulations," said Mark Edwards, Global Quality Assurance
Manager from Patersons, a leading global HR and payroll software and
services business delivering expert solutions to clients in more than 160
countries. "Businesses that are considering new technology to meet these
strict data requirements should look for service providers such as
Patersons that have independent validation of internal controls and
activities."
Patersons HR and Payroll Solutions, which provides tailor-made SaaS-based
solutions that integrate seamlessly with customers' existing IT
investments, engages in regular audits and inspections by external agencies
to ensure tight processes of control. The company also learns from other
organizations' security breaches and subsequently increases its protections
of Logon2, the company's flagship product. With these extra levels of
control, Patersons can meet the demands of large or small organizations
while providing the assurance of complying with strict corporate governance
standards.
In addition, to ensure global compliance and management information,
Patersons' technology is unparalleled in the ease and accuracy of
consolidating global pay data. Demographic information, multi-country
payroll and accounts payable, third party payments, and stock and benefits
information are available in real-time for viewing and reporting by
authorized parties via secure internet connection. By centralizing
international payroll and HR functions, Patersons takes full responsibility
for its clients' payroll to create an accurate and reliable service that
provides effortless implementation and generates powerful management
information both for the local company and for consolidation from the
corporate global perspective.
About Patersons HR and Payroll
Headquartered in Salisbury, U.K. with offices in the U.S., central Europe
and Asia, Patersons HR and Payroll is a leading global HR and payroll
software and services business delivering expert solutions to clients in
more than 160 countries. The Company's secure Internet-based software as a
service is multi-currency and multi-lingual (covering over 30 languages),
features an easy-to-use interface, supports fast implementation times and
facilitates integration with existing systems. Patersons HR and Payroll
differentiates itself by: one contract, one software solution, one
enterprise interface and one cohesive system approach. As a result,
Patersons has proved the impossible by being able to run
multi-jurisdictional payroll rules for multiple clients on one database and
one instance of source code worldwide. More information and contact details
can be accessed at www.patersons.net