One of the largest providers of cloud-based financial and enterprise resource planning (ERP) tools is adding global payroll management to its growing list of services.
California-based NetSuite Inc. recently announced a partnership with Celergo, an international payroll management company that maintains expatriate payrolls in more than 150 countries worldwide.
The partnership means that the Celergo Global Payroll SuiteApp will be the newest addition to NetSuite’s cloud service offerings, which it provides to more than 24,000 companies and subsidiaries.
“Celergo has proven expertise in managing extremely complex payroll processes and addressing the legal, currency, and language differences across nations,” said Joseph Fung, NetSuite vice-president of HCM Products, in a statement. “Celergo is an ideal complement to NetSuite for companies that are expanding globally or need to simplify their international operations.”
The move will allow companies with a presence across the globe to manage global payroll, business processes, financials and customer relationship management (CRM) functions all within the same service suite. This can help businesses eliminate inefficiencies caused by standalone payroll systems or maintaining multiple third-party providers.
“The challenges involved in global growth are many, from paying local and expatriate employees to managing global financial consolidation and multi-currency transactions,” said Timothy Callahan, CEO at Celergo, in a statement. “We see multiple synergies between Celergo and NetSuite with the real value of having all financial, payroll and HR information in a single shared platform to improve efficiency and accuracy while reducing cost and risk.”
Some of the key features of this new service include:
- Global Payroll Management: A single system of record for global employee populations including local, offshore and expatriate employees. Manage gross-to-net and net-to-gross payroll calculations in a single system, allowing multi-national organizations a flexible, functional business platform to expand into new markets and address the complexities of multiple payrolls. According to NetSuite, the two companies are enabling data synchronization between the systems.
- Global Payroll Compliance: Improves accuracy and compliance through standardizing data, while complying with all payroll policies, including monthly and year-end tax processes.
- Flexible Cloud Platform: Expands global business operations with NetSuite and Celergo cloud solutions, with capabilities to process payroll in more than 150 countries.