6 Best Global Payroll Services & Software in 2024

May 22, 2024
-
Hady ElHady
6 Best Global Payroll Services & Software in 2024

According to the American Payroll Association, automation can cut payroll processing costs by 80%. This is where Global Payroll Services and Software come into play.

Global Payroll Service Providers are financial experts in international business, making it easy to pay employees worldwide. Imagine a large corporation operating in multiple countries with its financial laws and regulations. These providers streamline the entire process, ensuring every paycheck is accurate and compliant with local laws.

Are you looking for payroll companies for your global workforce? In this blog post, we list the top six providers, highlighting their key features, pros, and cons to help you make an informed decision.

What is Global Payroll Management Software?

Global payroll management software automates and simplifies payroll processes for companies with employees in different countries. It helps organizations centralize and standardize payroll data, calculations, tax compliance, and reporting.

Global payroll involves managing payroll for employees worldwide. This includes calculating wages, withholding taxes, managing expenses like bonuses and benefits, paying employees, tracking work hours and paid time off, and ensuring compliance with local labor laws.

Types of Global Payroll Providers

Broadly speaking, these providers can be segmented into two main groups, each offering distinct advantages and considerations. Let's delve into these categories to grasp the nuances of global payroll solutions and make informed decisions.

1. Partner-Dependent Providers

Partner-dependent providers operate through third-party companies established in the countries where you intend to hire employees. While this approach may seem convenient initially, it comes with some limitations. Since you're reliant on external partners, you may have less control over critical aspects of your payroll operations, such as processing accuracy, compliance with local regulations, and safeguarding intellectual property. Moreover, there's a risk of encountering hidden costs or unexpected fees associated with using third-party services.

2. Owned Entity Providers

On the other hand, owned-entity providers operate differently. They establish legal entities in the countries where they offer services, giving them direct control and oversight over payroll processes, benefits administration, tax compliance, and contractual agreements with employees.

These providers can ensure greater transparency, efficiency, and accountability in managing global payroll operations. This approach offers businesses more control and reduces the dependency on external partners, mitigating potential risks and ensuring smoother payroll management across different jurisdictions.

Benefits of Global Payroll Management System

Global Payroll Management Systems offer a plethora of advantages for businesses operating across borders. From streamlining payroll processes to ensuring compliance with local regulations, these systems play a crucial role in simplifying payroll operations on a global scale. Let's delve into the benefits they bring to the table.

Cross-Border Compliance

Managing payroll across different regions can be tough for your HR team due to constantly changing laws and regulations. Streamlining global payroll processes with a centralized platform helps ensure compliance in every country where you operate.

Working with a single payroll provider that has local experts in each country guarantees your business stays compliant, regardless of complex local laws. With dedicated in-country HR experts, you can easily handle local payroll requirements and stay updated on statutory guidelines, tax rules, and filing schedules. This ensures your employees are always paid accurately and on time.

Scales Your Business

This system offers features like Payroll Flows, which simplify payroll processes by providing configurable steps and triggering tasks for different team members. With HiPeople, payroll administrators can easily create and manage multiple payroll formulas using straightforward mathematical functions.

This allows for complete control over processing, rules, and calculations without needing coding skills. Also, reporting capabilities give you a clear overview of payroll activity, including payroll runs, balance adjustments, taxes, payment details, and employer liabilities.

Access to Complete Payroll Information

Staying compliant with global payroll and managing foreign social programs can be challenging. A good global payroll service provider will give you all the information you need to stay compliant and understand the payroll customs in the countries where you hire.

Ensuring Timely, Error-free Payments

Making timely payments is crucial for employee satisfaction. Expanding your business into new countries can complicate in-house payroll operations, leading to chaos and delays. An international payroll service provider can efficiently manage your payroll, ensuring timely and accurate payments.

Easy Integration

Integrating your global payroll solution with your existing HR tech stack is straightforward. This integration streamlines payroll processes and simplifies international growth. It helps ensure compliance with local regulations, reduces paperwork, and improves budget planning. Employees also benefit by easily accessing their payslips and managing other HR tasks.

Keeping Your Systems Up-To-Date

One major perk of shifting your systems to the cloud is that you'll never miss out on the latest advancements. Cloud technology offers automatic updates, ensuring you can always access cutting-edge tools like artificial intelligence, digital assistants, and the Internet of Things.

Simplifying HR Tasks

A streamlined global payroll system means more time for enhancing other HR tasks and improving the employee experience. It transforms HR processes by eliminating manual payroll processing, allowing HR teams to focus on assisting managers with requests, benefits administration, time tracking, and expenses. This ensures smoother operations company-wide.

Also, with better access to payroll data and more time for HR-related tasks, teams can enhance the overall employee experience. This might involve gathering feedback through surveys to understand job satisfaction levels and then using this insight to refine processes and benefits.

Top Multi-Country Payroll Software

As businesses expand globally, the demand for reliable payroll services and software solutions continues to grow. In this article, we'll explore the top five global HR and payroll software options for 2024. Whether you're a small startup or a multinational corporation, finding the right payroll solution is essential for managing your global workforce efficiently. Let's take a closer look at the leading players in the industry.

1. Rippling Payroll

Rippling Payroll

Rippling Global Payroll stands out by allowing you to hire, pay, and manage your entire workforce from one platform, no matter where they are located. Unlike other payroll systems limited to US payroll, Rippling integrates data from your HR, IT, Finance, and third-party systems, enabling you to view and visualize information however you need without additional expensive software.

Key features:

Rippling Payroll offers a variety of features, including:

  • Payroll: Track employee hours and PTO, manage job costing, multiple pay rates, and unlimited pay runs. Send payments via direct deposit or check.
  • HR and Payroll Integration: Integrate HR data with payroll operations for error-free calculations and timely payments.
  • Device Management: Simplify device setup and distribution and automate device configuration.
  • Onboarding and Offboarding: Easily set up employees across systems, including payroll, benefits, devices, and applications. Onboard employees from anywhere in the world with a single click.
  • Reporting and Analytics: Access customizable HR reporting features to analyze various aspects of your workforce.
  • Mobile App: Employees can view their paystubs, request time off, and access their W2s through the app.

2. Remote Payroll

Remote Payroll

Remote payroll is one of the global payroll software providers that helps global companies handle payroll tasks for employees across 200 countries. It assists with tax compliance and ensures accurate payments. Tasks in remote payroll jobs include tracking work hours, calculating commissions, managing benefits payments, and issuing employee checks.

Key features:

Remote Payroll offers a variety of features, including:

  • Ensuring Timely Pay: Remote employees receive accurate and timely pay through streamlined payroll processing.
  • Automatic Tax Calculations: Prevents errors and ensures taxes are accurately calculated and filed on time.
  • Compliance Check: Identifies payroll mistakes to minimize the risk of fines and penalties due to non-compliance.
  • Automated Workforce Scheduling: Reduces errors and ensures timely compensation by automating payroll processing.
  • Employee Self-Service: Allows employees to check their pay stubs and manage their payroll information conveniently.
  • Custom Reporting: Provides employees with flexibility in receiving payment information, alleviating pressure on HR departments.
  • Secure Direct Deposit: Offers remote workers a secure and convenient method to receive their pay directly into their bank accounts.

3. Papaya Global

Papaya Global

Papaya Global is one of the best global payroll software programs, providing automated global payroll and HR software for small- to medium-sized businesses. With over 1,000 clients in 140+ countries, its platform offers end-to-end solutions for managing a global workforce. From onboarding to compliantly paying workers worldwide, Papaya serves businesses aiming to manage their global teams efficiently.

Key features:

Papaya Global, as a multi country payroll software, offers a variety of features, including:

  • Goal Tracking: Helps set, monitor, and review employee objectives and performance.
  • Onboarding: Guides new hires through a structured introduction to the company.
  • Mobile-Friendly: Employees can view their personal and payroll details on their phones.
  • Real-Time Updates: Offers instant insights for quick decision-making.
  • Dashboard: Gives a quick overview of payments across all locations.
  • Tax Compliance: Handles tax filings for each supported country.
  • Contract Customization: Tailors employee contracts to meet local legal requirements.
  • Regulatory Compliance: Adheres to local tax and benefit laws.
  • Immigration Support: Offers services for obtaining work permits.
  • Interactive Org Chart: Allows for easy navigation and filtering of company structure.

4. Paylocity

Paylocity

Paylocity is an easy-to-use online service for small and medium-sized businesses (SMBs), offering both payroll and HR solutions. Designed for SMBs, it's a blend of innovation and HR knowledge. With Paylocity, you get essential HR tools like customizable templates, checklists, and dynamic reports. Plus, it handles payroll tasks like tax filings and wage deductions seamlessly.

Key features:

Payroll Processing: Paylocity provides everything you need to manage payroll, including support for different pay schedules, direct deposits, and handling tax filings.

  • Automation: The platform automates payroll tasks and other administrative functions, making it easier to manage employee payments.
  • Reporting: With real-time reporting and an activity dashboard, you can easily keep track of all payroll and HR activities.
  • Cloud Storage: Your data is securely stored in the cloud, ensuring easy access and protection.
  • Integrations: Paylocity integrates with various accounting and HR systems, offering pre-built connections to other tools.
  • Expense Management: Manage receipts, reimbursements, and expenses easily with Paylocity's expense tracking tool.

5. Oracle Payroll

Oracle Payroll

Oracle Payroll, as part of Oracle Cloud HCM, is a complete solution that seamlessly integrates with your HR processes. It ensures compliant and customizable payroll management worldwide, regardless of your industry, company size, or type of workers.

Key features:

Oracle Payroll offers several key features:

  • Automated Processing: The Payroll and HCM modules in Oracle Fusion Cloud work together to automate much of the processing, simplifying payroll management.
  • Prepayments Process: This feature lets you assign employee payments to specific payment methods, ensuring accurate and timely payouts.
  • Iterative Process: Oracle Payroll calculates the highest pre-tax deduction while ensuring taxes and court orders are paid in full, optimizing payroll deductions.
  • Automated Calculations: The software automates the calculation of employee salaries, wages, and deductions, ensuring compliance with tax regulations and accuracy in payroll processing.
  • Integration With Oracle Cash Management: Oracle Payroll seamlessly integrates with Oracle Cash Management, allowing you to verify payment status and ensure payments are successfully processed.

6. Workday

Workday

Workday is HR software in the cloud meant to make managing your workforce easier. It helps with various tasks, such as payroll, scheduling, onboarding, time tracking, learning, talent management, and performance evaluations.

Key features:

Workday Payroll offers several key features:

  • Analytics: Track employee performance and make business decisions with tools for analyzing data.
  • Reporting: Visualize data and generate reports for informed decision-making.
  • User Experience: Workday's user-friendly interface integrates smoothly with other tools.
  • Integrations: Streamline processes with other systems through Workday's cloud system.
  • Custom Reports: Build complex integrations and transfer data easily with custom reports.

How Can HiPeople Help?

You've got a team of dedicated employees eagerly awaiting their hard-earned pay. Late payments can be a real downer, affecting morale and productivity. That's where software like Velocity Payroll, Deel, and HiPeople steps in, ensuring your payroll runs smoothly and your team stays motivated.

But it's not just about numbers and calculations; it's about people. With HiPeople's intuitive platform, you're not just processing payroll; you're taking care of your employees. And when your team feels valued and supported, they're more likely to thrive.

And let's not forget about finding the right talent. HiPeople's talent assessment tools are like your personal superhero squad, helping you handpick the perfect candidates for your team. With Talent Assessment Library tailored to different skills and roles, you can rest easy knowing you're making informed hiring decisions. It also covers diverse skills such as Copywriting Skills Assessment, UX/ UI Design Evaluation, and Product Branding Skills Assessment. And it enables informed hiring decisions. Businesses can bolster their teams for optimal performance and growth by ensuring contractors possess the requisite skills and expertise.

So, whether you're crunching numbers or scouting for top talent, HiPeople has your back every step of the way. Book a call to know more!