Your business is solid; you have weathered the financial storm and are ready to move from survival mode back to wealth creation. Your market analysis tells you it the time is ripe to move into one of the rapidly developing economies.

But exciting as any expansion might be, there are challenges to be met, as all multinational businesses know. Not least of these is how you handle the complexities of payroll and especially international payroll.

And the global payroll function on its own will suck up valuable resources while simply examining the details of compliance with local regulations, and the cost of hiring and managing local employees for administration. On top of all that there is risk management to be assessed, there are IT issues, questions over how to integrate data with your existing systems and reporting, all wrapped up, of course, in cultural and language differences.

It is obvious from that one paragraph above that management of non-core activities pulls plenty of time and energy away from your core business goals.

There is an increasing trend in tackling these problems through outsourcing. But while simply outsourcing payroll to a local vendor can be a solution, it often throws up yet more challenges. How do you chose those vendors, how do you manage them, and how do you ensure the service and data they will provide matches that which you get from your other overseas operations?

There is a more recent trend within the trend, identified as such by experts like the global strategic advisory firms; a trend that smart businesses are finding is giving them an edge: centrally managed international payroll outsourcing.

It is a solution that brings almost too many benefits to mention, only the most obvious of which is that, instead of dealing with a series of vendors in each country, you deal with one centrally located service provider. That means a single point of contact, a single contract, a single invoice, and a single operating language.

Your head quarters could be in New York, with branches in France, Norway and Abu Dhabi, say. Now you are moving into Brazil. That’s already five languages, five currencies, five different legal frameworks, and potentially five different reporting methods. But a centrally managed business process outsourcing partner such as Intercomp Global Services rolls those all into one for you. Dedicated international teams guarantee local compliance as part of the service contract, but still give you consolidated reports and standardized processes. Payroll is taken on by expert professionals who do nothing else, meaning an improvement in quality of service for your employees, coupled with a drop in overheads for you.

Better yet, given that you are moving into a dynamically developing market, and may well want to expand further at short notice, a company like Intercomp can be a vital aid to your strategic planning. Its approach can fit virtually any size of business, its fee structure is clear and, like its services, scalable. Whether you need to expand or contract head count, you know what the costs will be, and you know your BPO provider can follow you, even into any remote market.

That single contract also allows you to transfer responsibility and risk on to someone else. And because it couldn’t begin to operate a global payroll solution without lock-tight data security, business continuity and disaster recovery planning, Intercomp offers you yet further peace of mind.

All of which allows the vital but non-core payroll activity to be taken on by dedicated professionals, freeing up time and resources for you to concentrate on your core business goals.

To learn more about centrally managed international payroll visit: www.intercompglobal.com