Transform global payroll with standardization

Transform global payroll with standardization

Data and process standardization can solve many problems and improve the delivery of global payroll in a way that gives multinational employers full visibility and control over their multi-country payroll.

| Global Payroll Standardization

Table of Contents

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The Need For Standardization

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What Is Standardization?

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How Standardization Helps

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Page 5

Introducing Standardization

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Standardize Global Payroll With Payslip

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1. The Need For Standardization

The Landscape

Multinational companies are expanding into new regions and markets at a faster rate than ever before, creating an urgent need to hire and pay new employees. The level of scaling is happening at a rapid rate and companies need to use a range of local country payroll providers to deliver payroll across all of their countries.

The Problems

This has resulted in a range of complex issues and unmet needs for global employers:

Lack of visibility and control

No unified global process

No central governance

Non-standard data & processes across countries

A solution is needed. To run global payroll as a globally managed function, it requires a common standard and global framework across countries, including best practice and a single way of working across the globe.

The Solution

Standardizing data and processes go a long way to solving these problems. Global payroll standardization is about applying a global framework so payroll teams across countries use the same processes and data formats when delivering payroll. This makes central governance much easier with better control of data, people and vendors. Employers are able to see what exactly is happening with their global payroll. Consolidated reporting and country cost comparisons can happen at a global level.

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2. What Is Standardization?

Standardizing Data: Automating data workflows and applying standardized formatting to data feeds that are coming in from multiple country vendors and related systems like HCMs in various different formats. Global payroll professionals then work with the same data structure across countries and regions.

Standardizing Processes: Applying a standardized structure to multiple payroll processes across countries to create efficiencies for a quicker, more effective and transparent global payroll delivery.

Smart technology can be introduced to a global payroll model that standardizes data and processes across all payrolls and all countries. Well executed standardization can streamline data and processing workflows, automate repetitive tasks and give global employers full visibility on what is happening with their data, people and vendors.

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3. How Standardization Helps

Standardizing payroll helps to increase efficiency, reduces costs and ensures that both local and international teams are aligned and operating within the same global framework. Managers have more control over the process, payroll teams are working with the same data, and it is easier to identify and apply best practices across all countries. There is more transparency and visibility, making trending data or information easier to spot. Data arriving in standard formatting and categorized globally helps with anomalies and error spotting and is also useful for country-to-country comparisons. Global consolidated reporting is much easier to produce with standardized data and processes. Standardized data is comparable and enables reporting of bigger picture insights to help inform decision making at the highest level and help with business plans for growth and expansion. Payroll data can reveal a lot if standardized, consolidated and liberated through smart reporting & analytics. With standardization, the global payroll function can become a growth efficiency enabler when it comes to scaling into new territories. Standardization also introduces more control to the process and helps drive new levels of efficiency via a unified process across countries, which really adds value for teams delivering multiple pay runs at the same time.

“Payroll services adoption is being driven by the need to futureproof payroll solutions globally with modern capabilities, and an operating model that supports consistent, compliant payroll results” Next Generation Payroll Services. NelsonHall HR Services, March 2019

Data standardization capabilities are being demanded more and more as global employers switch their focus to technology tools and platforms that can consolidate payroll across multiple countries in a reliable and consistent manner. They also want to integrate with HCMs and the wider company IT eco-system- standardization supports this process and helps multi-national employers to unify disparate groups like payroll, HR, and IT to create a cohesive global eco-system.

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4. Introducing Standardization

A technology solution is required, and it often forms part of a wider project around the digital transformation of the HR and global payroll function. Companies can work with a technology partner who will introduce standardization to their multi- country payroll process. This can be a system driven approach that standardizes their payroll for improvements now while also laying the groundwork that enables future scaling and growth efficiency. The technology will be a digital cloud platform that standardizes the multicountry payroll process and automates any repeatable payroll data flows. It is important to standardize processes across the entire global footprint and not simply focus on a few countries. Payroll operations work best when managed in the same way at a global level, the ideal is to operate with a global framework that can also accommodate local country payroll nuances.

You can create a process map of existing workflows, show how things currently work and then work with the technology partner. Document the various process differences that exist in your payroll countries and account for the local regulation requirements. Then you can begin mapping pay elements like salary, tax, deductions etc. in a standardized way. Your goal should be to define an approach that can work on a global level, but also be flexible enough to adapt to the specific pay element needs in an individual country. Next, consider integrations so that crucial data flows from HCM and finance to payroll also become standardized. A global first data approach with the end result being HR, Finance and global payroll working as a unified process. Your technology partner can help draw up a road map to get you there.

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Payslip

The global payroll control platform for growth efficiency, helping companies harmonize global payroll operations, achieve standardization, automation, and visibility.

Take a Free Trial

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5. Standardize Global Payroll With Payslip

Payslip build intelligent standardization and integration technology to help multi- national employers gain full visibility and control over their global payroll process. Our cloud-based platform operates with a ‘global first’ approach that houses and standardizes the process, management, reporting and data to give full independent control of global payroll to our global employer clients. When you integrate with the Payslip global payroll control platform, our implementations team works with your internal team to agree and formalize a roadmap that will introduce the process of standardization and formatting of your country payroll data. The Payslip team will gather requirements, develop data mapping & categorizing processes, and perform design & integration testing to integrate and onboard you onto our platform. We will introduce automation and integrated data flows and work through a phased implementation of your multi-country payrolls. The goal is to link disparate payroll, HR inputs and local vendor data in order to standardize and consolidate your data onto a single platform. This enables payroll professionals to view workflows in common, standardized formats making it much easier to see what is happening across countries. We bring all of the unique pay elements into the platform and we standardize the data at a global level so that the employers can read the story behind the payroll data.

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Payslip technology integrates with the HCM and wider IT eco-system when delivering a standardized global payroll system. Payslip technology helps employers to collaborate with in-country payroll services partners to help manage any diverse vendor, compliance and integration needs at a global consolidated level. The platform was designed to integrate the global payroll data flows, automate the international workflows while providing consolidated global reporting. Importantly, Payslip can standardize on a global level but retain enough flexibility for local country nuances. Within country, flexibility is needed to accommodate local country requirements such as unique pay elements, so we connect the global with the local. The standardized data and workflows we introduce also lay the foundation for a predictable and repeatable process for scaling into new countries in an efficient way.

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“One of the things that Payslip has done, and we've been able to say, as a success is that not only can we see at any point of the month, where our payroll processes are at, but we can also say we're now empowered to have a lot more visibility into our data, and make informed decisions”

Travis Saville, HR Systems Lead

Payslip has worked with a number of companies to help them introduce standardization to their global payroll delivery process. We work with both digital natives and large-scale multinationals across a range of industries and have lots of experience helping companies who struggle with payroll data and information coming from their vendors and payroll countries in various different formats. We work quickly to map, format and standardize their key pay elements, allowing us to convert complex and disparate data into consistent, standard data across all countries. We help clients move from a complex and manual process to a scalable payroll with common workflow steps, automated actions and standardized data flows. The process of standardization with Payslip can begin faster than you might think, and our experienced team are here to help you get started. For more information, talk to us today.

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