EY has launched a next-generation payroll payment solution designed to streamline and assist company payroll management teams.
With a focus in mind on companies with global workforces, EY’s Integrated Global Payroll Solution helps HR and payroll functions by reducing the risk of combining domestic, mobile and global payroll solutions.
The solution places these functions into a centralised, single modular platform. This connects capabilities across legal, advisory and compliance.
Sheri Sullivan, EY Global and EY Americas Payroll Operate Leader, said: “The launch of the EY Integrated Global Payroll Solution marks a significant milestone in payroll management.
“Traditional payroll models struggle to keep pace with modern business demands and new ways of working, increasing the risks of non-compliance, data privacy issues, high costs and inefficiencies.
“This solution is designed to address the evolving complexities and challenges faced by organisations with a global workforce, providing them with the tools needed to take control and drive efficiency in their payroll operations.”
Rapid regulatory compliance changes, new labour and privacy laws, and talent scarcity are significantly increasing the workload for payroll, mobility and labour law functions, and managing the payroll of a growing international workforce has become more complex and time-consuming in recent years.
According to a recent EY survey of 400 Chief Human Resource Officers and Heads of Talent across the globe, 87% state that the rising demand for flexible or hybrid work arrangements is putting increased pressure on payroll.
The EY Integrated Global Payroll Solution harnesses technological advancements such as AI to harmonise data across the workforce. This shared data approach provides a unified view, reduces duplication, helps enhance controls and to ensure consistent decision-making and reporting.
Dan Hendy, EY Global Legal Transform and Operate Leader, added: “Payroll, mobility and labour law services are typically highly siloed, so it’s not surprising that recent survey data¹ shows that on average, just 24% responding organisations are satisfied with their current service providers.
“In fact, all respondents to the recent study recognized the benefits of having an integrated approach across these three areas.”
