Global payroll challenges solved: multi-vendor management
Welcome to the second in our series of short read blogs where we discuss a range of challenges being experienced at global payroll departments at multinational organizations around the world and specifically, how the Payslip platform is designed to solve these challenges. This week’s topic is the challenge of managing multiple different local country payroll providers.
Adopting a multi-vendor strategy for global payroll is an excellent strategy for companies with high-growth ambitions. First of all, it is usually completely necessary- no single provider has the breadth of country coverage needed for most global employers today, so they need to engage with a number of different local country providers to ensure everyone gets paid. Local country specialists can also provide valuable assistance with local compliance, employment law and cultural nuances.
So, what is the issue? Each provider will have their own system and process. This means a global employer is dealing with different systems, data and processes. There is also time zone, cultural and currency differences to consider. Plus, there will be no integrated data flows between the individual providers and the employers HCM and finance systems. The result of this is a lack of visibility, transparency, control and operational oversight.
How Payslip solve it
Payslip solve this issue by delivering a technology solution that allows global employers to view, manage and control all of their local country providers on a single platform. The platform enables global employers to bring all of their preferred local providers with them and create a standardized process for the centralized management of global payroll delivery across all of their payroll countries.
Standardizing the data and processes means the employer can see and control what is happening at all times, while Payslip’s reporting suite means they can run reports to compare costs across countries as well as analyze local provider performance. The platform also provides transparent digital audit trails to help prove local country compliance. On boarding new providers or changing providers is quick and easy, so the platform enables global employers to scale with speed into the countries they want to be in. Above all, they benefit from visibility, control and a centralized management of their multi country provider network using next generation technology in a secure, cloud deployed platform.
Stakeholders who benefit
If multivendor payroll provider management is a global payroll challenge that you would really like to be solved at your organization, then talk to Payslip today-a member of our team will be happy to talk you through our platform and show you in real-time.
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Using Payslip, we can manage all our payrolls across nine in-country vendors on one platform. When the global Covid-19 pandemic arose, it was not an issue from a payroll perspective, and critically getting everyone paid. The Payslip platform enabled continuity for our international payroll service including the fast and seamless implementation of the Payslip Employment Self Service during this time.
Payroll Manager, LogMeIn
Payslip as a technology platform has added a missing piece in our payroll set-up. As an international company with offices in 16 countries, it’s important to us that every employee at GetYourGuide has the same great experience when accessing their pay data.
At the same time, we work well with smaller local payroll providers, supporting us with direct local expertise in their countries. We were able to combine those two elements by placing the Payslip platform in the middle, to simplify reporting and communication with local providers, and to have one simple employee-facing solution across all locations.
Head of HR, GetYourGuide
With business and employee growth rates of above 50%, we rely on our vendors to deliver on time, every time. Payslip’s workflow automation, enables Phorest to manage our payroll provider process – data driven, real time and transparent. Payslip saves us time so we can focus on our business growth.
International Payroll Manager, Phorest
Payslip made our payroll process entirely transparent, which was something that we really need as we continue to grow and scale at such a rapid pace.
HR Systems Lead, Wave