We are seeing that the current trend is moving away from these traditional models as employers seek a new model that solves current problems while also applying a global payroll management framework covering all countries. A model that:
Standardizes payroll data and processes across countries
Organizes, stores and safeguards confidential payroll data
Automates workflows to reduce manual error and human risk
Enables cost savings and productivity gains
Delivers consolidated global reporting for bigger picture insights
Introduces execution excellence into global payroll operations
Enables compliance & data security governance and controls
Builds global payroll process operational control and flexibility
Is flexible enough to accommodate local country requirements
This model also needs to unify connected parties including payroll, HR, and Finance to create a cohesive global eco-system.
The future of global payroll is a global payroll control platform capable of delivering all of the above. A platform that can integrate seamlessly with existing technology frameworks, manage global payroll complexity while meeting the new demands being placed on payroll professionals as a result of the pandemic. Global payroll innovation has often fallen behind due to lack of leadership and executive sponsorship. The pandemic served to highlight the essential nature of global payroll delivery. Management level executive support is now more visible, and there is more fast tracking of global payroll digital transformation projects at many global employers.
| Global Payroll: Organization Health Check
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