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Global Work Glossary

Lost in a maze of global employment jargon? Find your way out with our handy collection of work and HR terminology

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# A B C D E F G H I J L M N O P R S T U V W X Y Z

Centralized payroll

What does centralized payroll refer to?

Centralized payroll refers to the practice of managing all payroll processing from a single department within a company. This means all staff will follow the same processes for salary calculations, tax deductions, and disbursements. Decentralized payroll, on the other hand, refers to a model where local payroll is managed separately by local organizations or departments.

The benefits of centralized payroll include increased accuracy and efficiency. When a single team is handling all payroll tasks, it’s easier for them to avoid calculation errors and streamline processes. It also makes reporting easier and ensures data security as information isn’t being sent between several different locations.

Centralized payroll also simplifies the process of managing global payroll, ensuring consistency and compliance across locations. Instead of hiring a new payroll supplier when you hire staff in a new country, you can rely on the same centralized solution (such as Multiplier.)

You can make the most of a centralized payroll system by ensuring that all staff are properly trained, ensuring the systems’ data is backed up, and choosing software (such as Multiplier) that integrates with other HR solutions.

Ready to take the leap? Choose Multiplier as your EOR partner

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