For the latest episode of the 3Sixty Insights #HRTechChat video podcast, my guest was David Barak, chief marketing officer of CloudPay. Through a unified cloud platform, CloudPay provides managed global payroll in more than 130 countries. The company also offers treasury services across this geographic footprint. Here’s a sampling of the ideas we covered:
- Virtually no employer ever really, truly plans for global payroll in advance. At some point, most organizations that get large enough and global enough get to a place where their company-wide payroll is practically unmanageable. This becomes the official outset of a typically three-stage process that eventually gets them to a straightforward scenario wherein their global payroll is under control and working for, not against, them. The journey there is almost always backward. You’ll have to watch the video to learn what these stages are.
- Sure, there are vendors of full-suite software for human capital management who offer a substantial ability to deliver in the grand theater of global payroll. What’s intriguing, however, is that global payroll is really a point-solution deployment. The complexity of it just lends itself to this. There is a need for so-called best-of-breed providers because the expertise in it must be deep and ability to deliver, broad.
- Global payroll is never a technology-only exercise. If the software isn’t up to task, yes, insurmountable problems will scuttle efforts. Deploy highly capable technology that is just right for global payroll, however, and the constantly evolving, highly complex regulatory environment remains. This is why employers ready to get their global payroll in order behoove themselves to partner with a provider that has a cadre of subject matter experts on hand to help the user navigate the span of local, regional, and national laws applicable to processing payroll internationally.
If global payroll is at all interesting to you or important to your work, then you will definitely enjoy this episode of #HRTechChat. I know that I did. Enjoy the video.
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