Integrating Your Global Payroll Data
Businesses have long been upgrading, advancing and integrating their technologies, and many more are taking advantage of being able to link software systems to ensure data quality, accuracy and access across their structure. This is especially true when it comes to global payrolls for companies looking to expand internationally; it’s a key element of successfully expanding business overseas.
First and foremost, automated technology has the potential to transform systems that once relied on time-consuming, laborious manual input into an accurate, secure integrated system by connecting elements together and sharing the benefits throughout the entire business.
As well as this, global payroll data integration has the potential to transform payroll systems to a crucial source of insight and information. An integrated payroll system means that more employee data can be easily accessed throughout the company, so employees can search for and see specific patterns and errors that may need attending to. This process can be done much quicker and without taking up valuable employee time that can be put to better use on other tasks of higher value.
It also mitigates the risk of non-compliance, which is increased when you take your business international, such as overlooking CRB checks, right-to-work checks and risk assessments, for example.
Standardising processes on a global scale, however, isn’t a short-term initiative, and requires a lot of time and effort upfront. This is where the first potential stumbling block lies; companies must ensure they factor in a realistic timeline for doing this properly, and that there isn’t a lack of resources as employees’ time is taken up away from their daily workloads.
In the long run, the hard work will pay off; employees will team spend less time dealing with regional or in-country operations as they become easier to understand, making teams more efficient.
You must also be clear about your objectives. Integrating your global payroll data can be very beneficial to the business, however you need to be realistic about what you’re going to do with the data once you have collected it, and ensure you adhere to any policies that are in place, as well as who will be responsible for ensuring they’re enforced.
Also, many employees will be required to make changes to the way they work, so you must be prepared to implement company-wide cultural change.
Ultimately, an integrated, global payroll system will provide you with the tools to ensure nothing gets overlooked, significantly reducing the risks to your company, while freeing up employees to work on more important tasks, eliminating human error and producing valuable data. There are inevitable potential stumbling blocks in the initial set-up, but ensuring you are fully prepared and have clearly stated objectives should ensure the process runs smoothly, and all of the hard work will start paying off very quickly.
Get in touch to learn how Galvin International can help you achieve your goals as you go global and integrate payroll data. From providing advice on the best payroll solutions, to putting you in touch with international payroll providers, we guide you through every aspect of the expansion process.
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