Imagine if all 50 states in the US had different payroll requirements, tax filing deadlines, and statutory compliance regulations – sounds impossible, right? This is one of the challenges for companies managing employees in multiple countries. With unique payroll, tax, and compliance regulations in each country, managing a global workforce is complex. As companies expand and begin using different providers in each country, the global payroll and compliance process gets even more complicated. So how can you simplify this challenging process?
Global payroll data varies by country, so if you use different vendors in each country, you have multiple sources of data and multiple variables across countries. Accessing all data in one aggregated platform ensures you have consistent data across the organization to manage payroll compliance and you can also track costs in real time. But when you’re using different vendors across several countries, getting aggregated reporting is impossible with multiple data sources and vendors.
Companies can sometimes wait months to get reporting or data from in-country vendors. You can lose thousands each month due to lack of visibility in the global payroll process with no way to reconcile the data once you receive it. The key to global payroll compliance is real-time access to view costs, currency conversions, and overall payroll spend as it is happening across the organization. Getting a report two months after a payroll has been run doesn’t help your team identify something that may be incorrect or out of compliance.
Aggregated global payroll reporting gives you real-time access to your payroll data across all countries and currencies, ensures payroll accuracy after each pay run, and helps track and identify errors or inconsistencies. Blue Marble provides seamless, aggregated payroll reporting within our payroll platform to simplify payroll operations across 100+ countries. To learn more about our global solutions, click here