New Research Reveals Visibility And Transparency Lacking In Payroll, Minimizing Its Business Impact

By Author: otis
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A recent study conducted by Everest Group, with the support of CloudPay, a global payroll provider, sheds light on the difficulties faced by payroll teams due to a lack of visibility and transparency. The study, titled "Unlocking the Benefits of Integrated Pay Solutions," reveals that 80% of those surveyed are unable to utilize payroll reporting to make informed decisions, while 45% lack insight into their payroll operations.

This lack of visibility has significant consequences, as it hampers organizations' ability to deliver accurate and timely payroll, thereby hindering their strategic contributions. Without an optimized payroll solution, organizations miss out on valuable insights that could greatly impact their growth and productivity.

The research, which gathered input from more than 100 senior leaders in payroll, finance, and HR, also highlights notable geographical differences in payroll approaches. While the global nature of business necessitates a payroll solution that transcends borders, only 33% of survey respondents have implemented a unified system. This discrepancy is particularly evident in the APAC and EMEA regions, where only 6% and 27% of businesses, respectively, opt for a global payroll solution, compared to 47% in North America.

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