In this article, we review the additional requirements that Global Payroll Leaders meet in the digital global environment in which we operate. These enhanced requirements from consolidated reporting to governance to data protection is over and beyond country payroll delivery and has progressed into strategic global payroll management. To deliver this, global payroll leaders continue to pursue and have increasing success in the standardization of global payroll processes and the delivery of a truly Global Payroll System that meets current needs and the future growth business plan.
Last week we brought you the first part of our Global Payroll Leader series with John Lestock, this week we introduce part 2 of that interesting interview. Listen to John speak about how a company can utilize payroll data for strategic decision making and John’s advice for companies who are scaling internationally and looking for a Global Payroll Solution.
Introducing the first in our series of interviews with experienced Global Payroll Managers. In our first edition, we have the pleasure of chatting with John Lestock, Global Payroll Accountant CPP at Boeing. During this interview, we cover everything from the changes John has seen in the Global Payroll industry over the past 5 years through how technology is influencing global payroll in terms of automation and standardization.
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The current wave of digital transformation is creating a seismic wave that will have a huge impact on the future of work. On the one hand, automation is threatening the current workforce with redundancy as machines take over jobs. But at the same time, the rise of complex new technology such as machine learning and artificial intelligence calls for new skills that most current employees are not equipped with.
A stark and unsettling new normal is taking place among businesses everywhere around the world right now due to the impact of the Covid-19 pandemic. Unprecedented and unanticipated, there was simply no way of predicting the circumstances we currently find ourselves in. None of this changes the fact that business continuity needs to happen and the need for multinational employees across multiple geographies to be paid accurately and on time, has not gone away.
An In-Country-Provider or ICP is one of the key participants in the payroll eco-system. In this article, we will examine who they are, what they do and some key considerations you need to explore before entering into a partnership to deliver global payroll for your organization.
An ICP is a local payroll vendor who provides payroll services in a country that a business wants to expand into. This business needs to pay staff in this country and needs some local expertise when it comes to navigating any tax, accounting, compliance or regulatory nuances associated with that country.
A pandemic is currently sweeping the globe, one with stark implications for businesses across the world. While there is huge uncertainty surrounding how long the Covid-19 health crisis is likely to last, there is no uncertainty about the implementation of business continuity procedures. Most multinational companies around the world have by now taken some form of action and referred to business continuity procedural documents.
Today, Payslip announces a €2.7 million Series A investment, led by Frontline Ventures. While the funding round was secured for Payslip’s ambitious 2020 business growth, the timing is excellent due to phenomenal new client interest arising from Covid19 work from home requirement.
In every sector of business, companies are expanding on an international scale. In a 2016 study (the latest year available), the US Bureau of Economic Analysis noted that worldwide employment by US enterprises increased by 0.4 percent.
Sustainable finance strategy was once a ‘nice to have’, by no means integral to running a successful company. Nowadays, no modern enterprise can expect to face a prosperous future without a sustainable business model in place.
Since the millennium, we have seen a tremendous uptake on the idea of sustainability and business as a force for good. This is changing the face of corporate behavior. Eco-friendly messages have made their way into every facet of business. From marketing campaigns to hiring strategies and sourcing decisions.
Working in a job where no two days are the same is not for everybody, but I like the way my role allows me to apply structure and discipline to the specific challenges a client may inform about on any given day- I treat it like an adventure!
Innovation is coming to the payroll industry and not before time. This innovation will see the deployment of cloud-based technology designed to speed up, improve and streamline the global payroll process. One of the current industry buzzwords in the payroll space is zero touch.
Covid-19 continues to spread and is dominating news headlines around the world. This raises important questions around safety in the workplace along with the best course of practical action employers can take in response.
It’s the start of a new decade and everyone in the business world is on the lookout for the next big game changing strategy. Payroll is not something that springs to mind immediately in this regard but anyone willing to take a closer look will discover that this department represents a genuine opportunity when it comes to overall business strategy.
Payslip technology delivers 60% reduction in manual processes for Air Transport Maintenance company.
A leading aviation services and support company with an international presence, this company provides key engineering services across a number of countries thanks to their skilled engineers and technicians.
Global payroll leaders sometimes decide to review and change their vendors and technology- this typically involves some market research followed by an appropriate procurement process. The company usually studies current market research and reviews available RFP and business case resources produced by relevant thought leaders in the payroll industry.
With the rise of technology and global instability, international expansion is a key strategic focus for many successful businesses. For CFOs, such strategy can raise a range of challenges that must be carefully navigated in order to ensure success in the new market. Here are the key challenges of international expansion.
Change is rarely popular, but it is an inevitable part of modern business -anyone reluctant to embrace it will find themselves quickly left behind by a hugely competitive and unforgiving global marketplace. Every business department from IT to Payroll to HR to Marketing will be subject to some form of change management initiatives at some point in their evolution.
Payslip has today announced the appointment of Mary Holland, CPP, to the role of Chief Customer Officer. Mary is a recognized global payroll professional and brings to the role vast knowledge on the global payroll industry and United States Payroll.
The payroll industry is populated with a few key providers who all play important, but distinct roles in the very important payroll eco-system. These roles exists because companies have different needs outside of the obvious payroll function of ensuring their employees get paid accurately and on time. To give you a picture of these needs, think of the very common scenario of a company looking to scale operations into a new country.
A recent Deloitte study of 600 global business leaders revealed that companies are spending half their time creating and updating reports. As a result, only a fraction of their time is spent on the far more valuable task of data analytics. This is an inbalance which costs companies timely and important insights. Insights which could, according to Matt Soderberg of Deloitte Consulting LLP, reporting on the results, “prove vital to the business.”
The payroll department has long been considered something of a functional, back-office process. One of those things you only pay attention to when something goes wrong. This narrow view is changing as keen observers are noticing the sheer volume of useful data flowing through payroll teams on a daily basis. Many are now wondering if this data may have other valuable insights. Business leaders are always looking for new ways to create growth and are always grateful for any new data that can help them make important strategic decisions.
Many payroll managers today are looking for a global payroll solution. They have found that the current processes in place are not sufficient to meet the day-to-day demands of global payroll operations. Payroll professional are under increasing pressure to deliver payroll services along with additional reporting requirements.