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Financial Planning > UHNW Client Services > Family Office News

HR-XML Completes Payroll Deduction Standard

By Staff Writer

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NU Online News Service, Feb. 11, 1:32 p.m. – The HR-XML Consortium, Raleigh, N.C., has completed a standard for identifying payroll benefits contribution information and four other types of information frequently used in human resources transactions.

Software companies can use the standards to develop systems for translating information from one database format to another.

If, for example, the HR-XML payroll contribution standard becomes popular, a payroll company might be able to handle payroll deduction information from 10 new employers using 10 different database formats without doing any special programming.

The other new HR-XML standards deal with employee contact information, time card configuration information, worksite and environment information, and job and position information.

An older HR-XML specification sets standards for identifying benefits enrollment information.

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