Local Payroll Must Go Global
Payroll is inherently local: local regulation, local pay elements, local employer obligations, local custom and practice, local filing requirements, local terminology and language, local software, local payslip formats. The list goes on and on.
In today’s connected global economy, businesses operate increasingly across borders, spinning up teams quickly in different countries as they grow to meet customer needs or access talent. This means that the even small businesses can have employees in multiple countries, which in turn means they need to figure out a way to effectively manage payroll in a variety of often unfamiliar locations around the world.
So the question becomes: Is there a way that we get a truly local service for Payroll that combines my need for global visibility on compliance, data, operations control and processes.
Traditional Multi-Country Payroll Vendors
There are a range of me-too offerings in this space. We all know the big brand names and they are all configured on a similar basis which has not changed very much over the past 10-15 years. They combine some of their own local payroll services with a collection of local partners where they do not have their own local presence. Over the top, they build their own tools and service personnel to offer some degree of integration.
However, their models come with a number of major downsides. They intermediate the direct access to the local specialists processing your payroll, making it difficult to address local payroll issues quickly and efficiently. The reporting is often inflexible to the point of being completely inutile. Rolling out the model across your entire payroll landscape takes a long time and is expensive. Once implemented you are locked in, you cannot change your local provider even if you are not happy with their service.
This model is great for the vendor but neglects the local dimension of payroll. It is a litany of serious compromises with an expensive price tag.
There is a new way
Imagine you could connect any combination of your existing in-house payroll and local outsourced payroll providers to a cloud-based platform
- to give you visibility of your payroll operations locally,
- to house your direct day-to-day communication with your payroll partners,
- to consolidate and analyse your payroll data and analytics your way,
- to give you a complete audit trail, and
- to provide you with a view of your local compliance obligations.
Now imagine you could implement this in weeks without the risks, effort and time required to rip and replace your existing payroll landscape and local payroll provide relationships. This model preserves your investment in the local payroll expertise, ensuring you get the best service and advice while helping you to operate more effectively across your global organisation.
We are seeing new open marketplace models spring up all around us re-stacking entire industries and redefining the previously difficult bridge between local expertise & service and global reach & efficiency (think Amazon, Booking.com, Uber, Airbnb, etc.). And we believe it is time to drive similar new marketplace models and innovation into the global payroll market by focusing on the local relationships while providing a global reach and connectivity. Find out how, by learning more about Payzaar’s unique business model.