According to recent research from Bloomberg BNA, the future of effective multi-country payroll management will be shaped by technology and the use of secure online systems.
61% of multi-national organizations* currently share payroll data over email
50% of multi-nationals still fail to encrypt employee data
Managing and approving multiple payroll processes across borders, amongst most difficult global compliance challenges
*Operating in more than six countries - The Global Payroll Management Survey 2016, Bloomberg BNA / TMF Group
[3 February, 2017 – London] – In complement to its existing global managed payroll services, TMF Group – a leading provider of global business services - has launched TMF Horizon, a new payroll portal that provides for complete visibility and control of an organization’s payroll data and operations.
Accessible across multiple devices (e.g. desktop, smartphone and tablet), TMF Horizon allows a company to centralize and align its payroll processing, to bring greater efficiency and productivity.
According to recent research from Bloomberg BNA, the future of effective multi-country payroll management will be shaped by technology and the use of secure online systems. The Global Payroll Management Survey 2016, found that half of businesses (50%) currently have no protocols in place to secure cross-border data exchange and a nearly two-thirds (61%) of multi-nationals (operating in six or more countries) share confidential payroll data over email.
Deborah Williams, Head of Global Business Services at TMF Group, explained:
“As companies evolve in size and footprint, it becomes increasingly difficult to co-ordinate payroll activity and to maintain a consistent global approach. The need for a centralised view on all payroll operations while meeting local in-country requirements presents a complex challenge.” As a leading multi-country payroll provider, TMF Group has used its local knowledge and expertise to develop TMF Horizon - a single, secure platform that allows businesses to view, exchange and report on payroll data for increased control and efficiency, both local and global.
“TMF Horizon provides clear workflows, calendars and dashboards, centralising the information all in one place, and making the payroll processes of your remote offices just as visible as those at HQ.”
“For the busy HR or Payroll Manager, this insight is invaluable: allowing them to communicate with employees directly and resolve any issues quickly and effectively. You can even control and monitor employee access to policy documents and deliver company-wide notifications.”