Revolutionizing Payroll: Change the way you look at month end activities.
Payroll had always been a headache right from HR to finance to the employees who are always directly or indirectly affected by the outcome of it.
To start with lets understand "Payroll" as a term.
A payroll is a company's list of its employees, but the term is commonly used to refer to:
- the total amount of money that a company pays to its employees
- a company's records of its employees' salaries and wages, bonuses, and withheld taxes
- the company's department that calculates and pays these.
For those who are dealing in payroll day in and day out, they would understand typically all the pain area of the process.
So let me break down the process as stages.
Stage 1: Input Collation Process
This stage would typically include getting all the inputs that is required to go ahead with the calculations for a particular pay cycle which includes the salary for that month, attendance data, leavers/joiners data, and any other data pertaining to that month.
Stage 2: Calculation
This is a relatively simply part where in you you just do a gross-to-net, i.e. simple addition and subtraction with some logic. For this, for each country in the world you could find numerous engines and software which will do it for you at a very cheap cost.
Step 3: Salary payout
It is a typical process of making the salary payment either by cash or bank note or any other convenient means.
Step 4: Compliance
Now this can be a really tricky part. Every country will have its on rules and regulations as to how you pay and what to pay be it statutory or payroll or any other aspect. So for companies typically where they have entities in more than 1 country, i.e. even if it is two, it might become a big pain area for them. And given today's scenario where in the laws and regulations keep changing, its becomes a threat to the existence of the company itself if they do not comply to the same.
The above mentioned is a typical process and for the people who got what I am talking about would also understand that except the Step 2, every other step is more or less a pain area. So what can we do about it? What if I tell you, I have a solution to the same where in I can automate your complete payroll right from the input collation process to your salary output across all the countries you work in and then take care of the complete compliance part as well.
Yes its possible and I would be more than happy to help you in this aspect. And about he quality of service, I would let my customers speak for that which I am sure you would have heard of cause they cross the news everyday.
Benefits you would receive would be:
1. Automation of your payroll process across geographies.
2. Single dashboard for multi-country payroll process status.
3. Individual log-in facility for all the employees to download their payslips.
4. Advanced level of quality checks at all levels.
5. 24*5 dedicated customer support for any queries that may arise.
Connect with me for further information.
Vipin Menon
Global Payroll Consultant
+91 99 165 26 888
[email protected]