WHITEPAPER
The Auxadi Guide to:
The Auxadi Guide to:
International Payroll Management in Latin America 2021
As we saw in our special report “Recovery to Rediscovery: Capitalising on a Changed Private Equity Landscape“, LATAM is one of the preferred destinations for investment from the United States (91% of North America-based fund managers surveyed said they intended to invest in the region before 2026). And it’s easy to see why.
Latin America is a region full of opportunities for companies looking to begin the process of international expansion (according to ECLAC data, expected regional growth in 2021 = 5.2%), but the South American continent also holds many complexities and challenges.
Of all the administrative, bureaucratic, and corporate processes involved in internationalisation, setting up payroll management in a new country is possibly one of the most intricate and demanding. And it is, without a doubt, one of the processes that can have the most impact on the organisation.
Prior knowledge of the cultural and legislative specificities of processes like registration, termination, or the types of existing contract, can be a distinct advantage.
Our guide for international payroll management in Latin America seeks to shed light on some of the issues that present headaches for companies undergoing internationalisation.
What’s in our guide?
- How to start preparing your LATAM payroll process.
- Relevant information on the main markets in Latin America, including:
- Regulatory enforcement.
- Registration and termination processes.
- Types of contract available.
- Holidays, leave, permits and benefits.
Who is the guide for?
- Human Resources Directors,
- CFOs,
- CEOs of expanding companies,
- Payroll managers,
- Responsible for expansion,
- M&A Directors,
- CTOs.
Five keys to start managing your payroll in Latin America
Cultural component
From leading delocalised teams to coordinating multiple interlocutors, controlling the cultural component of each country in which it will operate is essential.
Technology
Solutions adapted to the real needs of those who manage payroll, solving the main pain points of these processes.
Information control
Even before starting the internationalization process – defining the management model and having the tools that allow full visibility and control.
Complexity of the process itself
The choice of model, communication channels, choice of reporting format, approvals… Everything impacting the payroll process must have the goals of facilitation and efficiency.
Onboarding
It is crucial to make this first phase a fluid experience, flexible and personalised yet able to be easily adopted into the processes of the company and, at the same time, add value.
Monitor and manage your international subsidiaries with our MultiCountry online platform
Access our online platform that provides you with a global and harmonized view of the accounting of your international subsidiaries, with drill down functionality to check support documentation, such as: invoices, outstanding creditors, approve payment orders, manage the payroll processing cycle and so much more. Request a demo to see how our technology can help you.
Payroll Management Module
Payroll processing
Auxadi’s payroll management module consolidates the international payroll process of all jurisdictions. Within our platform, our clients interact with our teams and monitor the status of the payroll process at every stage.
Safe & Efficient
Hosting the Platform in Azure, and with our Payroll module being GDPR compliant, we control risk management of global operations.
User-friendly
The whole platform guarantees access and visibility to global data through an easy and intuitive real-time reporting interface.