More security safeguards needed for global payroll systems

With more global organisations hit by cybersecurity breaches in recent times, more payroll leaders are recognising the importance of data security.

The payroll operation of about six in 10 global organisations were impacted by a cybersecurity breach at least once in the last 24 months.

Of these instances, 40% were minor breaches, 45% were a combination of minor and major breaches, while 12% represented major breaches, according to ADP’s new The Potential of Payroll report.

As part of the report, a survey of 1,468 global payroll leaders also found that data security topped the list of payroll improvements that respondents are implementing in the next two to three years (44%).

John Antos, Vice President Strategy, Global Payroll & Asia Pacific, ADP, said, “Organisations know that they must act now to protect their data or face the consequences. Almost all (98%) of the senior payroll leaders we surveyed felt that data security had become more important in the last 12 months. Concerningly however, less than half said they have a full contingency plan in place across their territories.”

Besides cybersecurity, payroll leaders also identified their top concerns in 2023 to be data security (44%), accuracy of employee pay (36%) and reporting capabilities (32%).

Share this articles!

More from HRM Asia

Subscribe to Our Newsletter

Stay updated with the latest HR insights and events,
delivered right to your inbox.

Sponsorship Opportunity

Get in touch to find out more about sponsorship and exhibition opportunities.