Global payroll challenges solved: Compliance

August 31, 2021 | David Daly 5 Mins read

Welcome to the sixth 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 global payroll control platform is designed to solve these challenges. Let’s dive right in.

The Problem

Compliance and the complexity surrounding it is a major pain point for global employers today. Global organizations need to pay employees across several different countries and continents- each of whom have different laws and employee legislation that needs to be adhered to.

A lack of integrations means that the data flows into the centrally managed function at the global employer are not clear enough to offer visibility and control over multicounty compliance. Ultimate responsibility for compliance lies with the global employer and there are significant financial penalties for non-compliance. A technology solution is needed to help employers see, manage and control global payroll compliance.

How Payslip solve it

The Payslip global payroll control platform makes it easy for the key players in the global payroll ecosystem to share and receive payroll data. Integration functionality connects HCMs, financial accounting software and local country payroll provider systems with the employer software. Secure integrations ensure that essential global payroll data does not get missed, while also protecting it with robust security features.

Digital tools such as digital calendars and digital audit trails create much needed transparency in monthly global payroll processing cycles. The audit trails create documented and clear digital evidence that accounts for what payroll data was collected, who has access to it, what they did with it and when-enabling global employers to digitally prove compliance on a local country and overall global level.

Stakeholders who benefit

Global payroll managers

They have a responsibility to ensure local and global compliance-they have struggled to do this due to an inability to access the relevant data or a lack of visibility over how the local country vendors are managing compliance obligations. Payslip provide them with transparent audit trails that prove compliance and a process that helps them remain compliant across the globe.

Finance managers

The responsibility for compliant sometimes falls on the financial operations team who require access to data and reporting that can help them respond to internal and external compliance queries. The digital audit trails on the Payslip platform as well as the self-service reporting functionality makes their job a lot easier when it comes to addressing compliance issues.

Local country providers

They are being asked during the RFP process to outline how they meet compliance obligations. They benefit from a technology stack that helps them share compliance related data in an easier way with their multinational clients. The easier it is for them to accept and share employer personnel data into and from their systems, the easier it is for them to help their clients meet local country compliance obligations.

If compliance concerns are 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.

 

For information on the Payslip Platform contact us today.

 

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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.

Colin Smith

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.

Julian Fichter

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.

Ana Kelly

International Payroll Manager, Phorest

Payslip positions your team for success, and allows you to onboard hundreds of people when you need them very quickly and efficiently, in the same way for each country. The uniformed approach empowered our payroll teams to keep pace with our business.

Payslip also made our payroll process entirely transparent, which is invaluable to our payroll teams as we continue to grow and scale at such a rapid pace.

Travis Saville

HR Systems Lead, Wave