Looking into the future of global payroll
Meditations on global payroll strategy, technology, and the trends that are defining the future of the industry.
Don't SIT on Global Payroll data; STAND UP to unlock its power!
Data, data, and more data! Give me lots of data! When working in organizations, data is always top of mind, to drive efficiency and effectiveness through actionable business insights. What’s global payroll’s role in all of this? You must have been told many times (including by me) that you “sit on a wealth of data”. Well, it’s time to stand up and unlock this data.
LIVE from London: How providers should modernize their services
Last month (September 2024), we hosted an exclusive, invite-only event in central London. In contrast to prior events, our sole focus was on service providers and accounting firms. At Payzaar, our platform serves both sides of the global payroll industry; multinationals and providers, and we decided to focus on the latter this time.
The hidden drain on productivity: Preparing payroll inputs!
Payroll is hard work and requires intelligent people; we know this. And if you’d ask them what takes the most time and what frustrates them… it would be payroll inputs (or the lack thereof). I had this experience, too, and always used the benchmark that close to 60% of the time in pre-payroll, run payroll, and post-payroll is spent on payroll inputs.
Hidden outsourcing cost: An unwanted gift you pay the price for
“That is out of scope. Nope, that is out of scope as well. No, I am sorry, we do not offer these services. A custom GL? No, that’s extra. We need a YTD G2N because our auditors are visiting us. Here’s the bill. Can you read this letter from the local Tax Authorities? We are not a translating service.” These are provider responses to their customers' requests for services.
6 ways Gen Z is impacting Global Payroll in 2024
This year, for the first time, Gen Z is made up of a higher percentage of adults than it is teenagers. Gen Zers born between 1997 and 2005 are already 18 or older and are working and managing their finances. What does that mean for the global payroll industry in 2024 and beyond?
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We reduced the time spent preparing data for reporting to less than 10 minutes.
