Global payroll reporting – who needs it?

January 19, 2021 | David Daly 5 Mins read

Global employers who choose to run their payroll on a country-by-country basis will always need access to consolidated multi country reporting in order to have the level of visibility and control they need to run it efficiently.

Multinational companies and digital organizations are scaling at faster rates than ever before and this creates an urgent need to set up and deliver global payroll in different countries and territories. These new payroll countries need to be controlled and managed, often as part of a wider global payroll strategy.

Access to consolidated multi country reporting is essential if global payroll managers want to remain in control of the payroll process. But global payroll reporting is not just for the global payroll team-there is a growing range of stakeholders at multinational organizations who wish to learn about global payroll costs and processes.

In this article, we will examine who needs global payroll reporting, what are the reasons they need it for and how digital tools that deliver multi country reporting can supply key individuals and departments with the level of global payroll understanding they need.

Global payroll managers

Yes, this is an obvious one, but you may be surprised to learn that in many companies, these key people do not have access to the level of reporting they need to feel in control of their global payroll process. Global payroll managers will be interested in running a range of different reports on a weekly or monthly basis.

Firstly, they want to establish visibility and control – global payroll reporting gives them a clear picture of what is happening in each country within their multi country network. Detailed reporting can tell them which local vendor is in operation in that country, what individual is responsible for processing payroll there and how much global payroll costs in that particular country this month, quarter or year.

Managers are often subject to requests from senior leadership figures within the company to deliver country cost comparison reporting. The C-Suite executive team want to know how much global payroll is costing them, and if it is costing them more or less in a specific country or region, along with the reasons why. Only detailed, digital reporting extracted from standardized and consolidated data can deliver these specifics. Cloud platform deployed global payroll featuring a range of helpful digital tools is required to make this level of reporting a reality for global payroll managers.

Financial accountants

The finance team, who often fall under the responsibility of the company CFO, need to process and deliver important financial accounting figures on a monthly basis. This team will have a legal obligation to disclose and update specific costs associated with global payroll.

Finance will be very interested in accessing global payroll reports that can confirm costs on a country-by-country basis as well as more detailed reporting that enables them to drill down into specific pay elements such as overtime, bonus and pension payments.

Finance will be specifically interested in accessing finalized general ledger reports that occur post payroll – the quicker they can access these consolidated reports and figures, the easier it is for them to meet their financial reporting and accounting obligations. A global reporting tool that forms part of a global payroll delivery technology or platform, will prove to be a major asset to the finance team and for this reason, the CFO at a multinational organization should be paying close attention to the technology involved in the delivery of global payroll.

Human resource managers

The HR department and global payroll need to be closely aligned as important payroll data flows between these two departments are essential for the accurate and on time delivery of global payroll. HR systems contain important employee data that is needed to process global payroll while global payroll systems can help reconcile employee payments with existing data in the HR system.

Companies that fail to integrate global HR and global payroll, end up with multiple disparate systems – and this makes consolidated multi country reporting a real challenge. HR managers struggle to see what is happening with global payroll and have trouble reconciling their data. The single source of truth around employee numbers, where they are located and how much they are being paid becomes more difficult to achieve.

HR managers will always be interested in multi country cost comparison reporting – they will want to know how best to deploy resources in the future and will be interested in learning about financially advantageous locations that exist within their multi country global payroll network.

Compliance managers

Compliance departments operate with legal and regulatory obligations to deliver and prove multi-country compliance. This is a lot more difficult than it might sound and this key department often relies on the quality of the technology in place at the various stakeholder departments from whom it needs compliance transparency and proof.

A platform designed specifically as a global payroll solution can provide an audit trail around the use and processing of sensitive employee data as part of global payroll processing and delivery. Compliance managers will be interested in reporting that can detail who has access to employee data, who used it, who changed it, when and why. If this information is digitized and audited, it can then be used to prove compliance both on an individual country basis as well as for the organization as a whole.

Compliance managers will therefore be strong advocates of the use of digital tools and transparent reporting that can help them prove country by country compliance and data protection during an audit process.

The Payslip Global Reporter

When you integrate with the Payslip global payroll technology platform, you can use our Global Reporter tool to run a wide range of different global payroll data reports. Our platforms enable multiple users at multinationals to be assigned individual authorization rights, then go in and run their own reports on a self-service basis in real time.

This has proven to be an invaluable service for many of our clients, who are under increasing pressure to deliver specific and varied global payroll cost reports to a range of different stakeholders within their organizations.

Enabling global payroll and other professionals in multinationals to access, schedule and customize reporting for a range of specific needs has served to transform global payroll reporting and delivery.

Some of the reports that can be pulled using the payslip Platform include:

Total Employer Cost Report

Shows the total labor costs for the employer and can be split out by country, company, cost center, department or business unit.

Payroll Multi-Country Comparative Reporting

Pay Element & Total Cost Levels.

Employee Headcount Report

Displays all the employees active or inactive on the system and their locations. Can be filtered to show Joiners and Leavers within specified periods.

Payrun Report

Allows you to compare two or more payruns to view the changes between different pay elements per payroll and employee.

Audit Workflow Report

Shows your team and payroll provider’s performance as measured against workflow deadlines over time. Helps to measure payroll providers against SLAs

You can implement Payslip’s Global Payroll Reporter faster than you might think. Our experienced team are here to help you get started. For more information, talk to 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