EY launches new Integrated Global Payroll Solution
The big four firm has rolled out its new Integrated Global Payroll Solution aimed at streamlining payroll management for organisations with a global workforce.
EY has announced the launch of its Integrated Global Payroll Solution, developed with the motivation to transform and centralise payroll management on a global scale.
A recent EY survey of 400 global chief human resource officers and heads of talent revealed that 92 per cent of respondents said the growing demand for international workforce mobility had strained payroll processes.
Eighty-seven per cent also said rising demand for flexible or hybrid work arrangements was putting increased pressure on payroll.
The integrated global payroll solution would respond to emerging trends and would also help the HR and payroll function reduce risk by combining domestic, mobile and global payroll solutions.
EY global and EY Americas payroll operate leader, Sheri Sullivan, said the solution would be a single centralised, modular platform that connected capabilities across legal, advisory and compliance.
“The launch of the EY integrated global payroll solution marks a significant milestone in payroll management,” Sullivan said.
“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.”
According to EY, as artificial intelligence gained popularity, payroll strategies leveraging AI had too.
EY attributed this movement to organisations recognising the potential to transform administrative tasks into strategic value drivers, which was the aim of the development of the payroll solution.
“The EY integrated global payroll solution harnesses these technological advancements to harmonise data across the workforce,” EY said.
“This shared data approach provides a unified view, reduces duplication, help enhance controls and helps to ensure consistent decision-making and reporting.”
EY global legal transform and operate leader, Dan Hendy, said the solution had been launched at a time of rapid regulatory compliance changes, new labour and privacy laws, as well as talent scarcity.
“Payroll, mobility and labour law services are typically highly siloed, so it’s not surprising that recent survey data shows that on average, just 24 per cent of responding organisations are highly satisfied with their current service providers,” he said.
“In fact, all respondents to the recent study recognised the benefits of having an integrated approach across these three areas.”
EY global people advisory services tax leader, Gerard Osei-Bonsu, said having a strategic HR function was a strong predictor of company performance.
“The EY integrated global payroll solution is a game-changer for organisations looking to optimise their HR and payroll functions,” Osei-Bonsu said.
“By leveraging the global reach and capabilities of EY teams, companies can drive great efficiency, compliance and employee satisfaction, ultimately driving better outcomes and long-term value.”
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