Welcome to the fifth 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
Lack of integrations are a significant problem for global employers today. Global payroll requires data from different departments: payroll, HR and finance so there is a real need for seamless and accurate data flows between the relevant systems in these departments. The problem is that these data flows do not currently exist or legacy technology in place does not support them.
The result is a disjointed and fragmented global payroll process which relies on duplicate manual entry to ensure the relevant data from these different departments or systems is incorporated into any monthly payroll cycle. This creates problems: slow and manual processes impact timelines and accuracy, managers struggle with visibility and there is no bigger picture reporting because the foundational data is not present to support comprehensive and consolidated reporting.
How Payslip solve it
The Payslip global payroll control platform comes with pre-built integrations to popular HR technology HCM systems like Workday and SuccessFactors. It also integrates with a number of commonly used financial software packages.
This ensures two-way data flows not only exist, but they can also be automated between the global payroll platform and the HR and finance tech stacks. Data flows into the payroll system much quicker and all of this serves to lay the foundation for comprehensive and consolidated multi country payroll reporting where leadership teams can examine payroll costs on a bigger picture macro level while also being able to drill down to the micro level and examine individual pay elements. Accurate and connected data flows also have a significant role to play in payroll data compliance- secure integrations ensure that essential data does not get missed, while also protecting it with stronger security features.
Stakeholders who benefit
Global payroll professionals
They want to work in a fast and efficient way and when crucial integrations are not present, it is hard to achieve this. On the Payslip platform, data flows are fully automated, seamlessly integrated as well as standardized & unified. The seamless integration and validation of employee and finance data across HCM and ERP systems eliminates the error-prone, manual back and forth transfer of payroll data.
Global payroll managers
They want visibility and control and greater process efficiency. Payslip’s integration capabilities standardize and automate workflows across HR, Finance and global payroll creating a highly efficient “zero touch” payroll execution process.
Leadership teams
When integrated data flows connecting three separate departments are in operation within a global payroll process, leadership teams can then benefit from complete visibility into all payroll elements including salary expenses and taxes by region, by country, by employee. With Payslip, C-suite executives are finally able to harness payroll data for actionable insights and fully informed, real-time decision making.
If a lack of system integrations 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.
