Part Two: The Future Partnerships in Payroll21st Sep 2018
As established in part one of this blog, there are many key benefits in establishing a successful payroll partnership. This includes allowing the organisation to flourish as they continue to grow without being hindered by a complex payroll system. The adaptability of a payroll partnership allows for continued expansion into the years ahead, but, with this in mind, what does the future of the payroll partnership look like?
In order to globalise, an organisation must localise too—it’s about striking the right balance. The power of the global payroll partnership won’t eclipse the need for the local services, with each as important as the other in the payroll market of the future.
The future is bright
So, what’s in store for the future of payroll partnerships? Outsourcing to an international partnership isn’t a one-size-fits-all approach—it’s flexible as each deal is tailored to the customer’s needs, crafted in their specific region or country. There will be room for a variety of approaches to international payroll with both local providers as well as international partnerships.
As technology develops, the industry must keep up to date and the focus will inevitably turn towards more Software-as-a-Service offerings. In addition, rather than fixed offerings, partnerships are becoming much more flexible, with a choice of services. From SaaS (with the organisation retaining management of their payroll system) through to Comprehensive Payroll Services: organisations can tailor their service to specific needs. In addition, with greater customer access to cloud solutions, the payroll industry must adapt and therefore will likely be more cloud-based in the future, leading to a more connected industry as a whole.
In today’s international landscape, choosing a connected international payroll provider has never been more important for a multinational organisation. Rather than one international payroll service provider attempting to be an overarching global winner, collating together a number of regional providers will bring strength in numbers. By doing this, multiple international providers can offer expert services, and can work with other providers to become joint global leaders.
The strongest and most future-proof payroll services are those that partner with multiple providers to reduce the complexity of a disconnected local solution. International payroll is progressing towards a more simple and harmonious approach and, with a flexible, cloud based international payroll partnership, organisations can future-proof their payroll system with one simple and durable solution.
To learn more about what the Payroll Services Alliance can do for your business, please get in touch.
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