I speak with individuals that work for multinational organizations seeking to explore their payroll options on a regular basis. For the most part, these interactions are with people working in the finance, HR or payroll spaces who are experiencing frustrations with a lack of visibility, the inability to report across multiple payrolls, and/or inconsistent processes with local vendors.
So why are these challenges so common? As an organization grows and has the opportunity to conduct business in foreign countries they’re presented with two options – process payroll in-house or outsource it.
When it comes to outsourcing payroll — it can get pretty messy. No two companies do everything the same way, so there will definitely be some growing pains as the provider adjusts its processes to accommodate your company’s needs. In some cases, this may mean certain tasks are handled manually… and anytime something is manual it’s going be slower and open you up to the risk of human error. Obviously, this is a major issue when you consider that the goal of payroll is to be on time and accurate.
To overcome the challenges of visibility, reporting and inconsistent processes, multinational organizations need a payroll solution that offers integration as well as automation to streamline their payroll processes. Anything less creates a situation where Band-Aid after Band-Aid is applied to cover the wounds left by unorganized, inefficient, piecemealed “solutions.”
