Compliance, Complexity and Convergence: CloudPay Releases EMEA Payroll Efficiency Index
Dec 10, 2019 | Topic:
Annual Benchmarking Report Examines Payroll Processing, Highlights Common Issues and Identifies New Opportunities Across 15 Countries in Europe and the Middle East.
NEW YORK and LONDON – December 10, 2019 – Leading multinational payroll provider CloudPay today announced the availability of its EMEA 2019 Payroll Efficiency Index (PEI), offering deep insights into the current payroll processes of the 15 highest-volume countries in the region.
Leveraging CloudPay’s breadth of knowledge and expertise around country-specific payroll information, the EMEA 2019 PEI synthesizes anonymized data from multinational organizations, allowing companies to understand regional and in-country processing practices and benchmark their performance. Similar to the global report published earlier this year, the EMEA PEI cites examples, explanations and analysis of five significant KPIs: first-time approval, data input issues, issues per 1k payslips, payroll calendar length and supplemental impact. The index also takes into account real-life outcomes based on conversations with country payroll experts, payroll processors and customers.
Pete Tiliakos, Principal Analyst at NelsonHall, commented, “The data contained within CloudPay’s EMEA Payroll Efficiency Index is unique, offering invaluable insights to those organizations interested in optimizing their payroll processes. Having access to this type of information allows for continuous improvement, year after year, as employment needs and markets evolve.”
By recognizing and addressing the complexity that global payroll presents, the EMEA PEI explores the impact of regulatory compliance on processes efficiencies plus exceptions to perceived success, such as France’s routine second run. As an example, the index allows for country-specific nuances such as how payroll organizations in France rarely secure the necessary data ahead of the initial processing date, instead calendaring a second run for corrections.
“We bring a unique perspective to global payroll, with a platform that centralizes payroll processing information across more than 130 countries. This year’s EMEA Payroll Efficiency Index contains both useful data and customer stories, making it an invaluable resource to multinationals operating in this area of the world,” shared Paul Bartlett, CEO of CloudPay. “What we’ve found is that in an era marked by economic uncertainty, there’s a resounding call to measure what matters and ensure payroll processes remain effective across functions as well as borders.”
Beyond the regional overview, the report considers averages and indicators from Germany, Ireland, U.K., France, Italy, Spain, Poland, Netherlands, Switzerland, the Russian Federation and the United Arab Emirates. To download a complimentary copy, visit payrollefficiencyindex.com and look for the 2019 EMEA PEI.
CloudPay provides managed global payroll services to multinational organizations through a single, unified SaaS solution. By delivering end-to-end managed payroll services through an innovative platform, CloudPay ensures consistent and compliant payroll around the globe while reducing operating costs and minimizing manual processes. The CloudPay solution is backed by deep industry expertise earned over twenty-plus years delivering services to over 2,500 multinational entities. CloudPay’s solution guarantees accurate payroll processing across 130+ countries in more than twenty-five languages.