Cost has been one of the biggest concerns in recent times. As the pandemic prolongs, organisations are deliberately going slow, running most of their operational costs on shoestring budgets. As payroll is one of the biggest overheads of any enterprise, what’s the easiest way for CHROs to ensure cost-effective payroll delivery?
Simple. Get a global payroll outsourcing company that is local and affordable.
Global payroll outsourcing companies are known for their complex systems and hefty price tags. Most of these companies are structured to maintain centralised compliance, yet focus on multi-country payroll. However, not all these companies have a deep understanding of local statutory regulations. Pricing is tailored according to international rates and these are too expensive for global startups setting up shop in Malaysia.
Local Payroll Solutions for Global Companies
Rolling out payroll cyclically and seamlessly across all your employees – whether stationed in Malaysia or overseas – accounts to the success of human capital management in your organisation. Global startups in Malaysia need to scout for payroll outsourcing solutions that observe global payroll reporting standards as well have competitive pricing.
As experts in the payroll outsourcing industry, Propay Partners has been serving multinational companies for the past 20 years through the best local payroll specialists. Our compliance framework, like our most recently acquired ISO/IEC 27001 certifications apart from the existing ISO90001, have put our prices as the most affordable choice for MNCs looking for local payroll systems that meet global standards. Our high-touch services like e-HR cloud services and smartphone payroll data access offers clients limitless possibilities through SaaS models, helping them align costs according to their budgets.
Compliance Across Borders
Propay Partners supports businesses in South East Asia and extends payroll compliance according to the law in this region. While these companies may have employees hailing from North America, EU or other regions, we make sure their employees also meet individual compliance requirements with respect to the countries they come from. By supporting them locally, we also make sure that this data meets global compliance requirements as well so that the MNC delivers on its corporate governance policy concerning payroll compliance.
Payroll & Financial Reporting
MNCs have operations in various countries. They process thousands of payslips around the world and within different statutory landscapes. Sometimes, the company has to adhere to different tax laws in the same country itself and this makes payroll reporting a complex affair. Another common feature is that these companies are bound by financial controls from their country of origin.
Hence, the head offices of these global companies like to have better financial reporting in place to control overheads on a global scale. Having worked with such large enterprises for two decades, Propay Partners offers the best solutions in terms of consolidated payroll reporting quarterly or annually, depending on the client’s request. As this is one of our core competencies, we take pains to regularly train and keep our team updated on the latest developments and practices that enable us to run “compliance hygiene” at all times.
End of Statutory Headaches
One of the reasons to outsource payroll is to evade the everyday complexity of handling payroll-related computation. We offer complete end-to-end payroll management right from the beginning of our contract. This means that our global clients (who are obviously uninitiated to local tax regulations and intimations in the local language) need not be bothered with queries or mails from the Inland Revenue Board as we would take over them automatically.
Seamless Migration of Payroll Accounts
Most global companies upon starting operations in Malaysia prefer to detach their new payroll system from the centralised payroll wing and start payroll operations either through their startup in Malaysia or through a Professional Employer Organisation (PEO) by hiring contractual staff. Either way, they will need to migrate payroll accounts into a new accounting software quite different from their own.
Propay Partners, both as an outsourcing partner as well as a PEO, offers MNCs seamless transition into fool proof accounting systems that are secure, risk-free and ISO-certified. At the most, migration and transition happens within 30 to 90 days from the commencement of our service agreement. We also walk with our clients during the payroll audit stage, whether it’s carried out by their regional office or global office.
Taking the Leap
Deciding on payroll outsourcing can be a big decision – cost-wise as well as talent management-wise. Before signing the dotted line, it’s always best to get a preview of the services, details of what the contract entails and a real-time experience of payroll delivery. To know more about such solutions, we at Propay Partners can assist you with a demo. Visit www.propaypartners.com to know more.
