Attendees who stopped by the Payroll Technology Solution Stage got the chance to lunch and learn. Fidelma McGuirk, Founder & CEO of Payslip, gave the third presentation of the afternoon, “Achieve Global Payroll Control and Be GDPR Ready.”
The European Union's General Data Protection Regulation (GDPR) goes into effect May 25.
McGuirk noted that GDPR and Sarbanes-Oxley (SOX) compliance are among the top four challenges that payroll professionals have brought to her attention.
“More than anything, they want some control as they implement GDPR,” she said.
She explained that Payslip’s digital technology helps global payroll professionals achieve central control of payroll providers, data protection, and consolidated reporting. In terms of GDPR, one important component of the technology, according to McGuirk, is that “there is no exchange of data outside the system.”
She emphasized a key area of GDPR compliance: “knowing who does what when and where” in terms of data management throughout an organization as well as being able to easily document this information. For example, Payslip’s GDPR tools enable users to generate country-specific reports and registers based on pre-defined rules.
Determining which reports to run when will come, but many payroll professionals are still in the beginning stages of preparing to comply with GDPR.
“We’re getting ready by inventorying and classifying our data,” said Yili Shao, Director of Information Systems at the Association of International Agricultural Research Centers.
For many, the stage is still being set for GDPR.