The question of how best to organise payroll accounting is more topical than ever. In a rapidly changing environment with various regulations and requirements, payroll must always be correct, legally compliant and punctual. How can this work? Our study shows "Payroll Excellence".
Payroll optimisation: background
The study sheds light on the challenges and best practices of payroll in a global and local context. The 20 participants in the expert interviews come from large SMEs to DAX40-listed companies, as well as BPO providers and tax consultants. These rare insights into the sensitive area of payroll are provided along the six dimensions of our proven KPMG operating model: strategy, processes, systems, organisation, employees and management.
Minimise risks and increase employee satisfaction
The study makes it clear that payroll is much more than just paying employees on time. It plays a central role in complying with legal requirements, minimising risks and increasing employee satisfaction. Insufficiently reimbursed travel expenses or even late payment of salaries can have serious consequences. They often result in complaints and a loss of trust in the employer on the part of employees.
Payroll also plays a strategic role in corporate management: it not only provides important data for financial planning and personnel decisions, but also forms the basis for robust ESG reporting on equal pay, for example.
Recommendations for action based on the findings:
- Establish regional models with global control: A one-size-fits-all approach is rarely effective in payroll. Global standards can be efficiently combined with country-specific requirements through centralised control with regional hubs and, if necessary, local satellites.
- Training and further education for employees: Safeguarding and passing on specialist knowledge is crucial to maintaining the quality of payroll processes.
- Use of modern technologies: Automation and cloud-based systems increase efficiency, reduce errors and enable seamless integration.
- Standardised reporting and key performance indicators: Transparent and standardised reports improve the control and management of payroll processes.
The Studie "Payroll Excellence" illustrates how complex the requirements for payroll accounting have become. However, it also shows how companies can make their processes more efficient by making targeted adjustments. Our experts will give you valuable recommendations on how you can make your payroll fit for the future.
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