An efficient payroll process is one of the fundamentalmainstays of every successful organization. Salary payments must bedelivered on time if a company wants to establish long-termsustainability. An employee who hasn't received his or her wageswill not only be unhappy, but could potentially foment discontentamong colleagues, leading to a broader decrease in morale andtrust.

Organizations often find that the impediments to achievingaccurate, timely payroll payments increase exponentially when theyexpand operations abroad. A company doing business internationallyfaces a host of potential challenges, including many factors thatare outside of its control—from unstable governments and littlebanking infrastructure in regions like Africa, to highlyrestrictive legislative protocols like those across Asia. In globalbusinesses, effective payroll processes require treasury officersto not only manage cash flows, but also prepare for foreigncurrency volatility, help plan corporate structures that optimizetax policy in the different jurisdictions, and ensure compliancewith anti-money laundering laws.

Treasury needs to be running payroll-related due diligencearound each country the business is entering. A global company thatmakes the mistake of applying the same approach to payroll fundingfor all the countries in which it has employees will most likelyfind itself in violation of local laws. Many countries havespecific rules around how employees and taxes are funded, rulesthat don't apply for other types of payments.

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