In a bid to answer cut throat competition, business complexities and uncertainties, enterprises today are zeroing in on innovation, upskilling of the workforce and comprehensive restructuring measures to stay profitable.
In such a scenario, enterprises with global presence witness frequent hiccups owing to the absence of stringent compliance with local and global payroll regulations. Inducting local human resources across borders not only incurs hefty expenditure but also induces complexities in payroll management.
Moreover, with no stringent data security measures in place, the likelihood of a breach of employee confidential information escalates significantly.
Paysquare’s global payroll processing solutions suite ensures centralised management of payroll operations across the globe utilizing cutting edge technologies like Artificial Intelligence for a seamless, user- friendly payroll experience to the global workforce of an enterprise.
Furthermore, any updates related to payroll compliance are instantly synchronised with the system ensuring zero scope for errors and avoiding hefty regulatory penalties.
Some of the industry-leading features of the solutions suite include :-
● Monthly payroll calculation and delivery
● Employee specific income tax management and submission to local tax authorities
● Employee payroll data maintenance
● Electronic pay-slip reporting
‘’Our team at Paysquare is committed to ensuring an end to end payroll management for our esteemed clientele. The industry-leading global payroll processing solutions suite features comprehensive migration support; a highly scalable, cutting edge back-end payroll system and a multi-layer data security mechanism. All of this ensures a distinctive payroll experience to multinational enterprises,’’ said Rakesh Jain, CEO and founder, Paysquare.
Right from disbursing salaries to analysing operational costs or generating performance metrics of employees, outsourcing payroll has come as an end to end service for enterprises, eyeing to tap on new opportunities and streamline revenue centric operations.
With rapid advancements in technology, the payroll landscape has now transformed from legacy on-premise system towards a cloud-based service. Emerging technologies including Artificial Intelligence, Blockchain and Chatbots are empowering payroll processes to automate repetitive, tedious manual tasks which consume significant work hours of professionals.