The Global Payroll Challenge
Lots of different local payroll partners to manage across all countries
Multitude of different systems and processes across the payroll operations in various countries
Lack of global oversight over the status and potential issues in your local payroll processes
No or very limited global reporting that aggregates and consolidates payroll data across the different countries
Ensuring compliance with constantly changing local laws and regulations impacting payrolls and required deductions
No real benchmarks just how well your local payroll provider actually performs compared to other local vendors
Disruptive rip & replace of existing local payroll solutions
Long, cumbersome implementations, often many months to cover all local countries
High cost, both initial implementation cost and ongoing monthly service fees
Payzaar is here to revolutionize the global payroll market. Payzaar is the first open, connected and transparent marketplace for global payroll solutions. By connecting local payroll providers to the Payzaar hub, we make them part of an integrated global solution that consists of consolidated global reporting, global payroll operations controls and a single global user experience.
The best part is that we can do so with minimal disruption by leveraging existing relationships with local payroll providers. Thanks to our highly configurable system we can get you up and running in a matter of days, not weeks or months.
Payzaar is based on our firm belief in the power of free markets that are founded on transparency, choice and competition and that thrive on efficiency and innovation.
Open to any vendor, hence easy to extend to your existing vendor relationships
Providing an integrated view of all your global payroll process and data
Delivering real insights and benchmarks about your local vendors
Payzaar is an open network that is available to any local vendor and allows vendors to readily integrate their services into a holistic global solution. No need to switch your current vendors, just connect them into our global network and benefit from our global solution in a matter of days, not weeks or months. Payzaar also helps to create full transparency regarding vendor strengths and weaknesses by publishing vendors stats and client feedback. Payzaar gives you the choice to work with the vendors that best suit your needs.
Payzaar lets you aggregate all your local payroll data globally so you can look at the big picture and compare across countries. Our reporting tool is flexible so you can configure your global payroll reports to your specific reporting needs, making sure they are meaningful and being used. In addition, you can drill into the data down to the individual line item to see all the details in real time.
Payzaar offers you a comprehensive operations dashboard so you can track the status of your monthly payroll runs across all countries and intercept any issues in real time. Payzaar also works with local payroll providers to ensure highest operational standards and excellence in compliance with all local and international regulations.
With Payzaar’s innovative data integration tool we help clients to connect their core HR data – whether already captured in a consolidated HR System of Record or being pulled from a variety of online or offline sources – to the payroll system of the local payroll partner of their choice. The data integration tool supports a mix of automated data feeds, uploads of flat files as well as manual data entries. Digitize and automate your data capture – no more need to fax or call in data – and avoid costly and error-prone re-entry of data.
The Payzaar Difference
Traditional Global Payroll Solutions with Significant Challenges
However, these traditional global payroll solutions come with a number of important compromises:
No choice of local vendor, bound to the vendors that the aggregator has selected. Must “rip and replace” existing vendors – time consuming, disruptive & costly!
Rigid, centralistic approach. Very limited flexibility given to clients and local providers to adjust the service scope to their needs.
Lack of Transparency
Limited transparency regarding performance of local vendors, largely being kept under wraps by central aggregator.
High Price Points
Aggregators frequently charge rates 50-200% higher than local domestic market rates.
Side-by-side Comparison: Payzaar vs. Traditional Solutions
|Network||Open Freely choose your local partner, either your existing partner or any new partner||Closed Local partner being dictated by aggregator, cannot switch vendors|
|Implementation||Fast & efficient Hours or days, leveraging existing local vendors||Slow & costly Weeks to months, rip & replace existing local vendors|
|Transparency||Comprehensive Direct access to local vendors to address issues directly||Limited Often no direct access to local vendor, issues not openly addressed|
|Reporting||Flexible Can be configured to client's needs||Rigid Stipulated centrally by aggregator|
|Service Scope & Service Levels||Flexible Can be configured to client's needs||Rigid Pre-defined centrally by aggregator|
|Competition||Encouraged Free choice of vendors||Limited to none No real choice of vendors|
|Price Points||Competitive Market-driven, based on open choice and local competition||Expensive Monopolistic, based on lock-in and lack of local competition|
|General Mentality||Customer Centric Free Market: Open, Flexible, Transparent||Vendor Centric Planned Economy: Closed, Rigid, Opaque
Payzaar is the only global payroll platform in the market that delivers an
open, flexible and affordable solution!
Benefits for Clients and Partners
Benefits to Clients
- Up & running in hours instead of months
- Consolidated global reporting tailored to your needs
- Single production control dashboard to monitor and control all local payroll processes
- Consistent global user experience by transacting through common Payzaar hub
- Insights into vendors' true strengths & weaknesses based on actual client reviews
Benefits to Partners
- Retain existing clients instead of losing them to a multinational competitor
- Attract new multinational clients that you are unable to target with your local solution today
- More flexibility than working through traditional multinational payroll aggregator
- Gain visibility on vendor review portal based on quality of service not size of marketing budget