If you have employees in multiple countries, you know global payroll is not easy. So many factors go into managing payroll – local in-country regulations, tax and filing deadlines, statutory requirements – the list goes on. What are the key factors to successful, compliant payroll across all countries? Here are some priorities to consider:
Technology
If you are using different vendors or accountants in each country to manage payroll, your global payroll technology is probably not consistent or integrated across all countries and currencies. There are several issues that arise from using multiple vendors – lack of reporting, service capabilities, and real-time access to payroll. Technology should be a top priority for any business managing payroll in multiple countries. Using one payroll platform across all countries ensures compliance, increases visibility, and provides service capabilities in each country.
Reporting
Your payroll is only working as well as the reporting you have access to. If you don’t review monthly payroll reporting across all countries and currencies, you can’t track costs, identify errors, or spot fraud. Global reporting is also unique because you have different pay schedules, social security, and tax benefits for each country, so it is a key factor in payroll management. Reporting across all countries and currencies is a must-have in your global payroll process.
Service
Companies managing payroll across multiple countries often find that multiple vendors means lacking service capabilities. If you have a question about your payroll in a specific country, you could wait weeks before you get an answer. This can cause compliance issues and disruption in employee payroll. Your payroll solution should include service with full access to in-country experts, so you never have to wait for an answer to a simple question.
If you want to simplify your global payroll, set priorities for your process. What is lacking in your current payroll process? What can be improved? Are there compliance issues that haven’t been addressed? These are just a few questions to ask before looking for a new solution.
Blue Marble has taken the guess work out of global payroll. Our cloud-based payroll platform provides easy-to-use technology to manage employee payroll in 150+ countries. We have a robust reporting feature to create customized reports across all countries and currencies. Talk about service – our hybrid service model gives you a dedicated US-based team and direct access to in-country experts in 150+ countries! We take the phrase “simplifying global payroll” very seriously – our technology and service is designed to remove barriers and make global payroll easy for everyone. Talk to us today about how we can help improve your global payroll in 2021.