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.
| Global Payroll Standardization
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