The solution covers all activities related to treasutry payroll calculation and payout. It is suitable for state institutions and for organizations with a large number of employees.
There are plenty benefits for the solution users because it provides comprehensive control of the budget funds paid, the treasury is freed from processing of a large number of payroll related transactions and enables treasury function to be focused on budget planning and execution.
All payments are performed through consolidated payment orders what results with smaller bank charge costs and substantial decrease of operation cost.
> more on Centralized Calculation and Pay-out of Payrolls
FUNCTIONS AND FEATURES
Solution basis are Ocean software packages:
Resources Management: Register of Personnel, Payroll
Financial Package: General Ledger, Payables, Receivables, Cash Management
Ocean Standardization: interfaces, data and system security modules
All B&H languages and two scripts (Latin and Cyrillic).
Tracking of all data related to payroll calculation and payouts
Comprehensive management of financial matters related to human resources of budgetary departments
The solution operates as a system complementary to treasury system
Direct benefits for Treasury:
Treasury deals with the data on its' partners
The data on employee creditors/partners are not in treasury database
The treasury can focus on budget planning and execution
Reduction of bank charge costs
Integration with higher level treasury (B&H ISFU system) through automatic interface
Automatic interface and electronic data exchange with
With bank systems through the automatic interface
Pension funds and Health funds
Link with other organizations/creditors
Reporting and support at the level of treasury
Organizing of M4 submitting
DP forms
Various aggregate reports at the treasury level
Reports for the Central Bank
Ocean provides
System and functional suppert at the exploitation
Regular adjustments to the change of legislation and to other changes
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