EY launches global payroll solution

Designed to meet the needs of organisations with a global workforce, EY’s service aims to respond to current trends companies face, including constant regulatory changes, new labour and privacy laws, and talent scarcity, which negatively impact payroll management. The EY Integrated Global Payroll Solution addresses these complexities and assists the HR and payroll function in minimising risk by merging domestic, mobile, and global payroll services into a single centralised, modular platform. In addition, the tool connects capabilities across legal, advisory, and compliance.

In a bid to further help customers make data-driven decisions and manage risk, EY teamed up with Moody’s Analytics in December 2023. The collaboration between the two companies focused on supporting clients in utilising data and analytics to understand their markets, customers, and operations. Through this, they were set to effectively measure and manage credit, market, liquidity, operational, actuarial, and ESG risks.

Augmenting payroll management for global workforce companies

As the demand for features that utilise modern payroll technologies, including AI, is increasing, the EY Integrated Global Payroll Solution leverages these advancements to optimise data across the workforce. Through this shared approach, organisations with a global workforce can benefit from a unified view, minimise duplication, improve controls, and ensure consistent decision-making and reporting.

When commenting on the announcement, representatives from EY mentioned that the launch of the Integrated Global Payroll Solutions comes amidst traditional payroll models not being able to keep pace with modern business needs and new ways of working, in turn scaling the risks of non-compliance, data privacy concerns, and high costs. This service works towards addressing the evolving complexities faced by companies with a global workforce, offering them the tools required to gain control and increase efficiency in their payroll operations.