Global payroll challenges solved: Standardization
Welcome to the first in a 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. Let’s dive right in.
Standardization, or the lack of it! Essentially, non-standardized data and processes are a common feature of global payroll delivery at multinational companies everywhere. They are also a major pain point because non standardized data and processes make everything about global payroll more time consuming and complex.
Non standardized data and processes exist because the nature of multi country global payroll delivery is complex. It’s a crowded landscape filled with multiple vendors, disparate technology stacks, inconsistent processes across different countries and regions and data arriving in different formats.
Global payroll professionals are forced to spend a lot of time making sense of the data and dealing with the challenges that arise when different payroll procedures are followed in different countries. It is complex and time-consuming and makes global payroll delivery much harder than it needs to be.
How Payslip solve it
The solution to all of this is data standardization, where the data is standardized and delivered in the same format for each country. And, process standardization, where global payroll teams dispersed across multiple different countries follow a standardized and consistent process for global payroll delivery which can be duplicated across all of their countries in the multi country network.
Payslip use a ‘global first’ data approach where we look to create a global framework for data standardization and then duplicate this out across all of the payroll countries in the global employer network. Our global payroll management technology platform standardizes the formatting to data feeds that are coming in from local country payroll providers in various different formats. The platform houses and standardizes the process, management and reporting of global payroll data.
The introduction of this standardization approached means that global employers can streamline data and processing workflows, automate repetitive tasks and take back control over their data, people and vendors. Importantly, Payslip can standardize on a global level but retain enough flexibility for local country nuances and also build unlimited pay elements.
Stakeholders who benefit
If standardization 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