SOURCE: ADP

March 02, 2015 09:00 ET

New Regulatory Requirements and Disparate IT Systems Are Increasing Costs and Complexity for Employers, According to ADP® and CFO Research Study

ADP Introduces ADP SmartCompliance® Enhancements to Help Meet Client Needs for Simplified HCM-Related Compliance Management

ROSELAND, NJ--(Marketwired - Mar 2, 2015) -  Companies appear to be wasting valuable resources by maintaining disparate IT systems or using manual processes to remain compliant with laws and regulations governing their workforces, according to a new study released today by CFO Research and ADP®, a leading global provider of human capital management (HCM) solutions.

To help address clients' HCM-related compliance challenges, ADP is announcing sweeping enhancements to ADP SmartCompliance®, a cloud-based platform of outsourced services that helps employers better manage key HCM-related compliance requirements. These challenges can include the Affordable Care Act (ACA), tax credits, employment tax, wage payments, wage garnishments, employment verification, unemployment claims and W2 management.

"The research clearly shows that many companies are wasting resources and increasing their risk by using time-intensive manual processes to manage disparate systems for HCM-related compliance activities," said Doug Politi, President of ADP Added Value Services. "Our goal is to make ADP SmartCompliance simple to use, simple to implement and simple to integrate with organizations' existing HCM and enterprise resource planning (ERP) systems."

ADP SmartCompliance Helps Businesses Close the "Compliance Gap"

Complex and evolving regulations are putting pressure on businesses that use in-house systems to address HCM-related compliance requirements. In fact, some companies may face a "compliance gap" as technology alone generally does not address all these requirements. ADP SmartCompliance can integrate with many leading enterprise resource planning systems -- including payroll, HR and financial systems -- to help companies remain compliant with key HCM-related laws, mitigate risk associated with noncompliance, improve efficiencies and drive growth. 

ADP's new enhancements improve functionality, increase usability and can help relieve some of the pressure clients face with HCM-related compliance. The enhanced ADP SmartCompliance platform now includes:

  • A re-imagined user experience, which offers a host of additional enhancements to make ADP SmartCompliance more efficient. For example, the process for onboarding new users has been greatly simplified to just three steps.

  • Data analytics in an action-oriented dashboard, which now gives users the information they need, when they need it, in areas such as employment tax, tax credits, and wage garnishments in a user-friendly, intuitive dashboard. 

  • Flexibility through Application Programming Interfaces (APIs), which helps to enable companies to connect previously disconnected systems and synthesize key employment data by leveraging programming interfaces into an extended ecosystem of compatible programs and software.

"In working with ADP, our study tells us that a majority of respondents grade the ease by which they use their HCM-related compliance system as average or below average, and they feel the constant evolution of new regulatory requirements has increased the difficulty of staying compliant," said Celina Rogers, Vice President and Editorial Director at CFO Publishing. "Finance and HR leaders are eager to support innovation at their companies, and innovative companies want every activity they pursue -- including compliance -- to capitalize on data and analytics to help drive strategic, profitable growth. This research shows that finance and HR teams are increasingly looking for unified, secure compliance solutions to help them drive business efficiencies and create the conditions for sustained growth."

About the Study
CFO Research, the sponsored research arm of CFO Publishing, surveyed 161 senior finance and human resources executives at U.S. companies with 250 or more employees in December 2014 to examine the varying approaches to HCM-related compliance and the value of making compliance systems more user-friendly. This is the third year that ADP has collaborated with CFO Research on an HCM-related compliance-focused employer study. 

About ADP
Employers around the world rely on ADP® (NASDAQ: ADP) for cloud-based solutions and services to help manage their most important asset -- their people. From human resources and payroll to talent management to benefits administration, ADP brings unmatched depth and expertise in helping clients build a better workforce. A pioneer in Human Capital Management (HCM) and business process outsourcing, ADP serves more than 610,000 clients in 100 countries. ADP.com.

The ADP logo, ADP, and ADP SmartCompliance are registered trademarks of ADP, LLC. All other marks are the property of their respective owners. Copyright © 2015 ADP, LLC.

For more information
Get ahead of tax season this year: ADP SmartCompliance demonstrations are available upon request for media and prospective clients nationwide.

To learn more about the study conducted by ADP and CFO Research, and ADP SmartCompliance enhancements, an infographic, video and blog post are available.

Tweet this: Closing the #ComplianceGap: Enhanced @ADP SmartCompliance helps improve #HCM related #compliance http://bit.ly/1A6I0a0 #ADPcompliance

Tweet this: .@ADP, @CFOResearch finds half of respondents use disparate systems, manual processes for #HCM related #compliance http://bit.ly/1zmpOW7