Strategies to Simplify Global Payroll
Each year you make a plan, budget, and create new initiatives. Payroll is often overlooked as an operational expense, not as an area for improvement. But when it comes to strategies to simplify global payroll, there are always enhancements that can be made.
If you haven’t evaluated your payroll process across all countries, you could be missing out on some key benefits. And on the flip side, you could be at risk of non-compliance. As labor and payroll regulations change, it’s time to look at your global payroll and see if there are ways to improve, enhance, or simplify.
Here are some strategies to think about as you review your global payroll:
Data and Reporting
Do you have access each month to your payroll data in real-time? Can you create custom reports each month to look at your payroll across all countries and currencies? Payroll data and payroll reporting are 2 very important aspects of the process. If you can’t see data in real time, you could be missing out on errors, fraud, or compliance issues. Your payroll reporting should allow you to view one country at a time or all of your countries in one place. Getting control of the payroll data and reporting is the first step to improvements – you don’t know what you need to improve if you don’t know what’s going on each month.
Are you keeping up with all of the furlough changes in the UK? How about France changes to leave policies? If you’re like most people, you hope someone else knows how that will affect your payroll. But what if you don’t have the right team in each country to tell you what is changing? Countries update payroll and leave policies all the time – if you miss the change, your payroll is not compliant. Having direct access to in-country payroll experts is the key to managing regulation changes. Especially if you’re operating in more than one country – it gets more complicated and more risky when you make a mistake.
Everyone talks about integration but what does it really mean? Is your US and global payroll integrated on one platform? Can you view all of your employee payroll in one place? Integration not only across all countries but also across your global HRIS is a key improvement when you’re looking a simplifying your payroll process. Integration means reporting is integrated, processes are integrated, one team can manage all of your employee payroll, you don’t need multiple systems – it’s a must-have for multi-national companies if you’re thinking of expansion.
Review your payroll process and ask if you have the reporting, in-country expertise, and integration you are looking for. If you are missing some aspects, it’s time to look for new solutions to help simplify the process. Blue Marble created cloud-based technology to provide the same “enterprise” payroll experience for non-enterprise level companies. You don’t have to be big to get 5-star payroll services. You just need to be smart about the solutions you choose.
With one platform to manage 150+ countries, aggregated reporting across all countries and currencies, and direct access to in-county experts, Blue Marble makes global payroll look easy – because it doesn’t have to be complicated! To learn more, visit our solutions page or get a quick demo to find out how simple payroll can be.