The Three Stages of Global Payroll Implementation
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CloudPay delivers end-to-end global payroll services through a unified application that enhances efficiency and reduces costs for multinational organizations. It emphasizes a three-stage approach to payroll transformation: planning and preparation, evaluation and selection, and deployment and onboarding, ensuring successful implementation that drives strategic value. By adopting a single cloud-based solution, organizations can standardize processes and improve compliance and productivity across various operational functions.
The Three Stages of Global Payroll Implementation
- 1. GLOBAL PAYROLL I M P L E M E N TAT I O N CLOUDPAY.NET THE THREE STAGES OF
- 2. CloudPay is the only payroll provider delivering end-to-end global payroll and managed services to multinational organizations through a single, unified application. CloudPay makes truly global payroll possible through a suite of tools and services that reduces customers’ operating costs, automates workflows, and minimizes manual practices. By enabling companies to standardize the payroll process across geographies, streamline compliance, and achieve stronger visibility into payroll performance, CloudPay helps clients improve efficiency and elevate payroll’s strategic importance to the enterprise. CloudPay’s technology is backed by deep industry expertise earned over twenty-plus years of delivering global payroll services to multinational companies. To learn more, go to cloudpay.net ABOUT CLOUDPAY R ET HI NK G L OB AL PAYROLL 2
- 3. In the quest for better business performance, large organizations must continually evaluate the efficiency and effectiveness of their operational functions. When the focus is on payroll, their assessments rarely receive high marks. Take another look, however, and many organizations will find that a transformation in global payroll can create tremendous value for the enterprise. By shifting from a fragmented approach (reliant on legacy systems and multiple disconnected vendors) to a single cloud- based solution, multinational companies can standardize their payroll processes, reduce errors, and achieve vastly higher productivity and efficiency levels over time. The challenge lies in making that shift. Payroll affects every employee in a multinational company, and the effectiveness of its operations can have a strong impact on functions ranging from HR and Finance to Business Development and Compliance. With so many stakeholders and considerations involved, organizations must approach global payroll implementation with a multistage approach. Organizations can achieve a successful implementation and drive continued advancement in the payroll function by engaging in best practices across three key stages: 1. Planning & Preparation Building a Business Case, Establishing Scope, and Assembling Resources 2. Evaluation & Selection Setting Objectives, Creating a Shortlist, and Engaging in the RFP Process 3. Deployment & Onboarding Strategizing the Rollout, Maintaining Vendor Alignment, and Training Your Teams. RETHINKING PAYROLL IMPLEMENTATION INTRODUCTION 3
- 4. STAGEONE Much of the overall success of a global payroll transformation hinges on an organization’s initial strategic planning efforts. When companies underestimate the depth, breadth, and impact of change in payroll, they may neglect to perform adequate planning and preparation. As a result, they end up with much longer implementation timelines than would otherwise be necessary. At minimum, there are three important areas for global companies to cover during the Planning stage. Across each of these areas, answering the right questions upfront will ultimately help organizations minimize disruptions and earn a better return on their global payroll investment. PLANNING & PREPARATION THE STEPS BUILD A COMPELLING BUSINESS CASE ESTABLISH THE FULL PROJECT SCOPE ASSEMBLE THE PROJECT TEAM AND RESOURCES 4
- 5. Global payroll transformation begins in earnest only when there is buy-in for change across the organization. Acquiring that support demands a compelling business case – one that showcases the benefits of a new solution for every decision-maker and departmental stakeholder, at every organizational level. As you build that business case, pay close attention to what each individual or group needs to understand about the value of a new solution. SENIOR LEADERSHIP wants to know: n What problems with the existing approach demand resolution? n What are the costs of the existing model? What is the ideal budget for a global solution? n What long-term savings or value are achievable with a solution change? PAYROLL MANAGERS & COUNTRY LEADS want to know: n How would a solution change minimize existing payroll challenges? n What expectations and responsibilities may change among in-house payroll teams? n What resourcing needs will change as a result of a switch? HR, FINANCE & IT TEAMS want to know: n How much time and effort will transformation demand from connected functions? n What advantages will it deliver to their departments (i.e., data quality, resource use)? n What is the full scope of the implementation project? BUILDING A BUSINESS CASE REMEMBER - Thorough research and understanding from the start is key to a timely implementation that both meets your goals and aligns with broader business objectives. STAGE ONE | PLANNING & PREPARATION 5
- 6. Understanding the project scope is important for all individuals involved in a payroll implementation. Once your business case has resulted in an approved budget, you can pin down the global scope of your overall change initiative. Asking the following questions can help you determine which countries to onboard to a new global solution: n What countries comprise your end-to-end enterprise footprint? n How are payrolls being processed in each country? n How well have pay cycles in each country been managed to date? n Where has the organization experienced compliance gaps or legal penalties? Why? n Where has the organization experienced especially high costs? Why? n What are the most important issues to each country/region manager? n What countries are next on the organization’s expansion list? TIP - Let your scope determine your team, rather than the other way around. The goals and benefits outlined in your business case should guide project involvement. ESTABLISHING SCOPE STAGE ONE | PLANNING & PREPARATION 6
- 7. Before moving to the evaluation phase, organizations should gain a firm understanding of all the individuals, departments, and information that will be working with the new vendor across the scope of the project, spanning all contracted payroll providers, all connected software solutions, and all internal constituencies affected by the implementation. Once you know the answers to the questions below, you can build out a project team and gather all necessary data and documentation. n How many payroll vendors is the organization currently working with globally? n When do the contracts expire with each provider? What does each contract entail? n Who manages the relationships with each provider? n What systems and entities house the historical and current data you’ll need to implement a new solution? n How available and accessible is that data? Who will need to participate in the project in order to acquire it? n How much manual effort will be required to organize your data for implementation? n Who will be tasked with organizing your data, and how much time will they need? ASSEMBLING RESOURCES STAGE ONE | PLANNING & PREPARATION 7
- 8. Processes and consolidates all global payrolls. A scalable and fully compliant single-contract payroll solution, it is accessible anytime and anywhere, with industry leading features that improve labor distribution and visibility into your payroll costs. THERE IS GREAT POTENTIAL IN PAYROLL. COME FIND IT. TH E C L O UDPAY S O L UT ION 17 Processes and consolidates all global payrolls. A scalable and fully compliant single-contract payroll solution, it is accessible anytime and anywhere, with industry leading features that improve labor distribution and visibility into your payroll costs. Goes beyond typical payroll reporting, helping uncover new insights that drive strategic value. CloudPay Analytics continues to expand its dashboard of predictive analytics that provide the underlying information needed to improve efficiencies, optimize costs and ensure continuous compliance. Manages secure communications for all process participants, including any local vendors. With a real-time “chat” function, questions, changes and requests are managed instantaneously through dedicated teams in our seven global service centers. Automates and standardizes all payroll and payments processes, regardless of the country, and provides key data that identifies opportunities for process improvement and performance measurement. Standardizes how employee, demographic and payroll data is imported by CloudPay from a wide range of external sources, including HRM platforms such as Workday, Success Factors and PeopleSoft. REDUCE OPERATIONAL COSTS Remove complexity and reliance on multiple platforms while optimizing how you staff payroll. Increase operational efficiency by storing and analyzing all of your payroll data in a single solution. Reduce overall payroll processing costs and errors to improve your business performance. TRUST YOUR PAYROLL Have confidence with our fully compliant, highly secure payroll solution and our skilled subject matter experts. Minimize the risk of non-compliance with local and statutory regulations with a fully integrated compliance interface. Maintain greater internal governance. FOCUS ON YOUR BUSINESS Gain the freedom to focus on your core business with the reliability, simplicity, and assurance you get with CloudPay’s integrated global payroll solution. Harness more accurate global insights to improve your business performance with our interactive dashboards.