{"id":3551,"date":"2019-08-22T19:34:25","date_gmt":"2019-08-22T19:34:25","guid":{"rendered":"https:\/\/www.allsectech.com\/?p=3551"},"modified":"2024-09-07T09:26:28","modified_gmt":"2024-09-07T09:26:28","slug":"how-to-tackle-multi-country-payroll-complexities-like-a-boss","status":"publish","type":"post","link":"https:\/\/www.alldigitech.com\/2019\/08\/22\/how-to-tackle-multi-country-payroll-complexities-like-a-boss\/","title":{"rendered":"How to Tackle Multi-Country Payroll Complexities Like a Boss"},"content":{"rendered":"

How to Tackle Multi-Country Payroll Complexities Like a Boss<\/h1>\n

The Coca-Cola Company, the American multinational that is a household name, has <\/span>62,600 employees<\/span><\/a> in over 200 countries across the world. Home-bred Infosys Ltd., has operations in <\/span>46 countries<\/span><\/a>.\u00a0<\/span><\/p>\n

The truly globalized nature of trade today means that a number of businesses operate in multiple locations. This makes for a complicated payroll management system. As such, payroll services are complex because of the myriad compliance requirements, employee categories, and reporting standards involved. When the diverse requirements in various domestic and international locations converge, it can be a daunting and expensive operation.\u00a0\u00a0<\/span><\/p>\n

However, some simple measures implemented in a payroll management system can help you ace the move.\u00a0\u00a0<\/span><\/p>\n<\/div><\/div><\/div>

Outsourcing and Centralization<\/b><\/h4>\n

According to a <\/span>survey<\/span><\/a> conducted last year by Immedis, a Dublin-based payroll outsourcing services firm, 41 percent of respondents said that the chief problem they faced with global payroll was keeping up with tax legislations in multiple jurisdictions.\u00a0<\/span><\/p>\n

Hiring in-house employees for taxation in every country could hike up operational costs. Instead, onboarding an experienced <\/span>payroll outsourcing service that is specialized in multi-country tax law<\/span><\/a>s can improve efficiency while reducing overheads.\u00a0\u00a0<\/span><\/p>\n

Another hack for a <\/span>successful global payroll system<\/span><\/a> would be to have centralized operations. Given the EU\u2019s latest <\/span>General Data Protection Regulation<\/span><\/a> (GDPR), <\/span>it makes sense to consolidate all employee information in one location. The new GDPR rules apply not just to businesses operating in the EU, but also any company that interacts with residents or businesses in the EU. Centralization tackles the issue of both compliance and cost\u2026like killing two birds with one stone.\u00a0<\/span><\/p>\n

Standardization and Technology<\/b><\/h4>\n

Having different formats for payroll data in various locations can prove difficult for employees when they are relocated within the organization. This can disrupt centralized activity, even if payroll services are managed by an outsourcing vendor. Having a <\/span>standardized platform with cutting-edge technology<\/span><\/a> for collecting and storing information can simplify the process.\u00a0<\/span><\/p>\n

The best payroll software is quick, able to minimize human error, and scalable across different locations and employee volumes. Adopting cloud-based technology and automation can transform how global payroll functions.\u00a0<\/span><\/p>\n<\/div><\/div><\/div>

Business Enquiry<\/h4><\/div>

If you are an EU \/ UK citizen or resident of EU \/ UK region, then write to us at infoeu@alldigitech.com<\/em><\/p>\n<\/div>\n