Key considerations when writing a global payroll RFP
Choosing the correct global payroll model for your company has become an extremely important decision. Multinational companies today tend to have a dispersed workforce across multiple locations and high-volume employee numbers. This brings a number of complexities into the global payroll process as payroll professionals have to factor in a variety of different payroll calculation elements, many of which are linked directly to local country nuances and legislation.
Payroll professionals really need a global payroll model that makes their lives easier and not harder. They need reliable local providers who understand what a centrally located payroll team is trying to achieve with both their monthly payroll and the reporting requirements. Innovative technology which helps reduce manual processing and makes it easier to analyze, check and confirm payroll elements is also needed to create efficiency.
When putting together a global payroll request for proposal document, several key questions spring to mind when deciding what is truly important to meet payroll provider needs at a multinational in 2020. Your current global payroll business process will help you define these RFP questions as will any knowledge you have around the plans your company has to scale into new countries.
A good place to start with would be attempting to define your payroll processes as it stands currently in each country and identify key tasks and process owners. This will help you identify early what the current gaps, risks and inefficiencies in your global payroll operations look like. Examine process maps if you have them and start asking yourself what it is you want from your operations in the future.
In this article, we will examine a list of questions that should be a part of any RFP process related to the search for a global payroll solution.
Payslip is not an outsource provider or an aggregator, we are an automation and integration technology partner for global payroll processing. If the above questions were put to us, the answer would be yes to all of them. Our technology does not involve any rip and replace of preferred payroll providers, we simply integrate with them and you carry on the relationship. Our reporting is global, comprehensive, and consolidated- the customer is always in control and they get to schedule and customize the reporting as they choose. Our technology also gives you the flexibility to swap out any underperforming vendor anytime you want. We can quickly source and on board a new one for you.
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
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