HR and technology: how

HR and technology: how innovation is revolutionizing global payroll

Business growth is exciting, but with it comes some significant challenges. Opening offices in new countries is a complex process that needs to take into account many factors such as language, culture, custom and of course – legislation. Businesses need to navigate a range of unfamiliar regulatory requirements to ensure compliance and get up and running as quickly as possible...

@PaySpace

Bruce van Wyk, Sales & Marketing Director,

PaySpace

A founding member of PaySpace, Bruce has over 16 years of experience in designing, conceptualising and implementing functional payroll and HR solutions for local, multinational and blue-chip organisations. Bruce heads up Finance and Sales at PaySpace with a love for entrepreneurship. Exposure to the technical, consulting and client requirements have given him vast experience in solution design, comprehensive international tax legislation, quality human resource approaches, talent trends and client relations.

Multinationals typically

enlist local consultants in each country of operation to help them establish their new offices. This creates a huge amount of extra administration for the HR team. They have to source and then oversee trusted suppliers in each country, and in some countries, they even have to employ and manage in-country payroll teams.

In the pursuit of greater efficiency, businesses are increasingly looking for service providers that can assist them with various functions across multiple countries. Thanks to innovative technological developments, this is possible. The advent of cloud-based software enables multinationals to consolidate their global payroll needs and manage their processes from one location far more efficiently.

Less admin, more time

competitive business environment. One way to stay ahead of rivals is to spend time more efficiently. Employees tend to spend many valuable hours on administrative tasks like updating reports, spreadsheets and reviewing contracts. This time could be better spent elsewhere. A cloud-based global payroll platform liberates HR teams from onerous administration, and gives them more time to work on more strategic areas like succession planning and expansion.

An automated cloud-based payroll system also provides businesses with better access to critical information from anywhere in the world. For example, regardless of where the payroll manager is based, they can log in and pull all the data they need in real-time, from any device at any time. All authorized users have a holistic view of the business at all times which means they can access information faster and make better strategic decisions.

Team work

Cloud software makes geography irrelevant. Two colleagues, in different locations, can work together on a project in realtime without any disruptions or duplications. Email is great for many reasons, but it’s not an ideal collaborative tool as documents can easily get lost or filed incorrectly. The enhanced collaboration associated with a global payroll system helps create an agile working environment that is responsive and far more productive.

To boost team work and efficiency even further, companies can also integrate their global payroll with other business systems like accounting. PaySpace for example, integrates with Xero which improves inter-departmental transparency and collaboration.

This global access to company information may cause some concern. However, cloud

technologies are in fact, very secure. A global payroll provider that is ISO27001 certified has the security knowledge and expertise to help keep corporate networks safe – over and above basic password protocol and user authorization.

How to move to global payroll

To successfully globalize its payroll system, a business needs to focus on the following three areas:

1. Technology

globally if you choose a cloudbased provider that offers multi-country, multi-currency options. This might require a software update if the company is not already operating on the cloud. A software update can be

quite intimidating but with the right provider, it can be done seamlessly and with minimal, if any, disruption.

2.Compliance

Every country presents its own set of rules and regulations, and compliance in each one is crucial. When choosing a global payroll system, a company must check that the provider has the relevant cross-border capabilities and covers the countries that are

It’s much easier expand payroll

current fee?

Small Business Owners relevant to its business.

3. Change management

Many people don’t like change – and some employees are reluctant to adopt new systems. A change management process can help get a new payroll platform up and running as quickly as possible. Training is imperative as this will ensure all workers are on board with the new system and ready to use it from the get-go.

A payroll provider that offers global cloud-based solutions will help international companies to manage multiple offices and become more efficient. It gives them easy access to real-time data from any connected device, anywhere in the world – enabling businesses to operate with enhanced intelligence and speed. This strengthens their position in the market, and keeps them one step ahead of the

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