Managing a global company comes with its own sets of challenges. One of them can compensate employees stationed all across the globe. Thankfully, global HR software allows companies to pay their employees no matter where they are with accuracy as if they are paying their local employees. Here are some of the best payroll software for global companies!
13+ Global Payroll Software
4. Papaya Global
6. Globalization Partners
11. Safeguard Global
What Is Global Payroll Software?
Global payroll software is an HR payroll software where human relations compensate their employees stationed across the globe with their salaries that are earned during their work and attendance during a certain work period. This international payroll software is a highly automated software that allows employees to be paid for their work no matter where they are located as their companies have established their local officers in the country they live in.
Global payroll software allows companies and their human relations departments to compensate their employees in a much more streamlined, centralized software that allows them to perform payroll processes on a much grander, global scale. As with other benefits of payroll software, multi-country payroll software also enables companies to pay their employees on time thanks to its automated tools that make the payroll system much quicker to execute and perform.
The multi country payroll software also encourages companies to expand to the idea of a remote work arrangement as they can compensate their employees, whether they are in the office or working somewhere else outside the country. It also expands the company’s global reach as they can find more employees and composite them for their work depending on the HR regulation laws set by these respective countries.
Many of the features and tools of global payroll software are found in many generalized online payroll software, except they are optimized for global workforces. The most important feature of the software is that its software is programmed to execute payroll system processing according to the company’s policies set by the respective country’s business and labor regulation laws through HR compliance. As each country has its own different sets of laws when it comes to labor, the software should be able to process these complex adjustments especially when global payroll processing is done from centralized software.
The software should also be able to composite their global employees according to their local currency, which is another reason why the software should be able to manage global payrolls. As with other payroll software, it should be able to connect with other HR management software such as accounting software, employee time tracking software, and workforce management software to measure how much employees should be paid based on their time during work hours and work performance. With this integration, salary is calculated based on these factors which factor into their overall salary. The software should also be able to provide tools where certain segments of their salary are deducted for taxes, social security, insurances, and many more. The software should also be able to connect with each country’s banking system which is where the payroll will land to their employee’s bank accounts.
- Optimized for global workforces
- HR compliances
- Compensation policies set by each operating country’s laws
- Multi-currency support
- Integration with other HR management software
- Calculation of salary based on work time and performance
- Deductibles tools
- Connection with banks of each country
Top 10 Global Payroll Software
1. Globalization Partners
Globalization Partners streamlines international business operations with their all-in-one employee management software that enables their clients to hire new employees easily and pay them no matter where they go. Globalization Partners has 370 employees and earns annual revenue of $53.7 million.
Workday’s cloud enterprise management software allows companies to manage their employees accurately including compensating employees through payroll tools. Workday has 14,374 employees and earns a revenue of $4.32 billion.
Remote provides companies with their global HR solutions software that allows companies to hire international employees quickly and compensate them easily. Remote Technology has 909 employees and earns annual revenue of $131.8 million.
CloudPay provides a global payroll software that unifies the way human relations execute payroll tasks. CloudPay has 561 employees and earns annual revenue of $81.3 million.
5. Safeguard Global
Safeguard Global’s HR outsourcing software allows companies to composite their global employees easily. Safeguard Global has 531 employees and earns annual revenue of $67.3 million.
PayFit provides payroll software for small businesses that streamlines the payroll and HR process automatically and is optimized for the digital workplace. PayFit has 490 employees and earns annual revenue of $66.1 million.
7. Papaya Global
Papaya Global global payroll software allows companies to manage their global workforce with its centralized software set-up. Papaya Global has 183 employees and earns annual revenue of $26.5 million.
Activpayroll enables companies to pay their global employees accurately with their global payroll outsourcing software. Activpayroll has 125 employees and earns annual revenue of $25.1 million.
Deel allows companies to pay their remote employees with their payroll software that ensures HR compliance and payroll systems done in one centralized, automated software. Deel has 117 employees and earns annual revenue of $9 million.
GlobePayroll provides companies with their cloud payroll software that enables them to pay their employees with automated tools that feel effortless. GlobePayroll has 48 employees and earns annual revenue of $7 million.
Do employees need to have a bank account under the company’s preferred banks to receive their payroll through global payroll software?
Yes. This is usually the case as employers would recommend their employees to create their bank accounts under their companies’ preferred banks. If the employee has a bank account under the company’s preferred bank already before their employment, they don’t need to create another bank account.
Does the company need to have legal jurisdiction to operate in a country before they can compensate their employees living in that country through the global payroll software?
Yes. Companies would need to have a legal operation in a country before they can composite, or even hire, employees who are living in that country. In the case where an employee is allowed to work despite moving countries to where the company has no legal jurisdiction to operate in that company, they will be paid according to their previous country’s regulation laws. As such, that employee would still need to have a legal visa in that previous country to continue to work with the company to avoid placing the employee and the company under legal trouble.
How much does global payroll software cost?
Pricing for global payroll software can range is usually customized, with pricing tiers that offer more features or less. Pricing for global payroll software varies depending on the features available and the intended target companies. Small companies may benefit more from free or low-cost global payroll software, while bigger companies may benefit more from high-cost software.
Compensating global employees isn’t so difficult now thanks to global payroll software as its tools allow companies to pay their employees for their time and hard work, regardless of geographic borders!
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