Patersons, the expert provider of integrated global payroll services, today announced the release of its new white paper, titled “Making the Business Case for Global Payroll.” Highlighting the benefits of embracing a cloud-based global payroll system, the white paper outlines the ways in which such a system better supports an organization’s growing and expanding multinational operations.
Companies managing payroll for hundreds or hundreds of thousands of employees in multiple countries face a number of complexities. As each country has its own unique labor laws and regulations that change constantly, a company puts itself at risk of non-compliance if it is unable to apply legislation correctly and accurately in each location. While many companies turn to multiple vendors to help them manage payroll, doing so raises concerns about data security as multiple parties have access to sensitive personal and financial data. Conversely, companies that handle payroll themselves can become bogged down and suffer from a lack of standardized processes.
The white paper highlights the numerous benefits derived by adopting a cloud-based, SaaS-delivered global payroll system. Such a solution is able to support payrolls across a multitude of countries, enhance reporting and standardization, and enable organizations to better manage costs and increase productivity. Additionally, once an organization adopts a cloud-based global payroll system, it gains greater visibility into its processes and is able to conduct analysis to support the data-driven decisions necessary for strategic workforce planning.
Other highlights from the white paper include:
• The decision to implement a global payroll system requires an in-depth examination and review of existing payroll processes, where resources are allocated and expenses, management time, compliance and audit history.
• A cloud-based system offers significant savings and process improvements, such as reduced reliance on internal resources and no need for costly upgrades, strengthening the business case for transitioning to the model.
• A company gains improved compliance through a single point of governance control and clear oversight of compliance costs. It also proves that payrolls are legitimate and that payments are accurate and authorized properly.
• Outsourced global payroll provides additional savings in the area of employee training, through a common methodology and global tools that result in greater consistency across the operation.
• With real-time data access, organizations can make more informed strategic and financial decisions and gain increased visibility through more accurate financial reporting.
“As the economy rebounds, more and more companies are leveraging the benefits of expanding their operations to new markets, whether organically or through acquisition,” said Andrew Pearson, CEO of Patersons. “Yet, one of the most complex challenges they face in this growth is managing payroll consistently across the enterprise while complying with local labor laws. A single global platform provides these organizations with a cost-effective way to successfully manage their entire payroll operations, without detracting from their strategic growth initiatives.”
Patersons (patersons.com) is the leading provider of integrated global payroll services, delivering expert solutions to customers in more than 160 countries. Patersons integrates the capabilities of payroll engines, payroll partners, workflow, and managed services in a secure and compliant service that is delivered using an on-demand, SaaS-based business model. This allows organizations to consolidate and control their multi-national payroll operations on one technology platform. The results are streamlined processes, better visibility, increased compliance, and reduced costs.
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