89% of companies believe that having a complete view of their employees is “critical". Only 30% of companies have that complete view.
The HR challenges that arise as international expansion gathers pace become central to an organisation’s success or failure. HR is a company’s backbone with payroll being the key way to recognise the most important asset.
1. Costs: Multiple Local Payroll Systems Increase Cost
A single vendor with a single contract provides transparency on the costs making budgeting and financial planning easier, while relieving companies of the tedium of back-office functions.
The administrative burden of managing multiple systems or suppliers requires endless consolidation of information and reports. The resources required not only adds to the cost, but it also impacts the ability to make effective and timely business decisions. ADP payroll solutions can make you more focused on business expansion and other operational strategies while controlling costs.
2. Flexibility: Adapting to Market Conditions and a Changing Business World
It’s stating the obvious that simplicity and standardisation are key to true flexibility. The standardisation of HR processes offer the potential to increase flexibility for HR professionals, offering increased efficiency and overall cost-effectiveness. Consequently, companies can free themselves from having to deal with a host of different regulations, employee policies, labour conditions, currencies, languages and directives. As payroll becomes outsourced globally, companies consolidate consistent processes for all the countries in which they operate. A priority for HR professionals but also CFOs.
3. Control: Are you in Control or are you Being Controlled?
Very few executives managing their business have a global view of the workforce. Complete data visibility and a standardised set of processes enables companies to make real time critical business decisions and focus on the strategy of your company. A single database that enables reporting and analytics requires the integration of HR data, common policies, processes, and tasks into one single platform. According to the ADP Global HCM Study, January 2014, 37% of mid-sized companies’ data are left sitting in Excel or similar types of databases. So the value of putting all data in one system which is accessible by HR, as well as leadership, managers and employees, cannot be underestimated.