Global economies are allowing companies to grow at a rapid pace. When we look at the term “global economy” and how this term changes the state of a countries economy as opposed to if their economy was isolated, we can see how integrating economies can intensify the development of certain countries that are lacking the growth of their economic counter parts. The European Union was formed to aid certain European countries that lacked the resources to develop at the same rate as others. The European Union economy is far greater than that of the US (16,584,007 million dollars compared to 15,684,750 million dollars).
Companies who are benefiting from this global economy lack one pivotal element, country specific knowledge. Knowing cultural differences and how businesses work in various countries is a very challenging and time consuming operation. Laws for creating businesses, paying employees or even employment practices are highly important yet very country specific factors that need to be investigated in order to operate in that country.
One aspect of a company’s operations seems to be problematic when entering into Africa. That is the problem of complete payroll services. Keeping the payroll practices in house is a recipe for disaster as each African country has very different statutory laws. There has not been a payroll solution for all the developing African countries, until now. Expat Africa Payroll is creating an “African Economy” in payroll.
By outsourcing your payroll to this company it creates a better freedom, lower risk and greater reward structure for companies seeking to reach this new market. Expat Arica Payroll is seeking to become the gateway into Africa. Through its strategic partners it has enabled itself to offer a solution that is unique to the African continent. It is relatively easy for a multinational company to enter an African country and be able to do the payroll systems in-house, however it is when the MNC’s venture into multiple African countries that using Expat Africa Payroll becomes a valuable asset to have. As MNC’s compete in the global economy, competitive advantages are important for higher returns. Outsourcing your payroll to a company that specialises its services on the African continent enables your company to focus on attaining your market share and giving the ability to enter African countries in an efficient and swift manner.
This is becoming the solution companies are looking for and is set to be a company with potential to aid companies in every African country. from rapidly developing countries to failed states, Expat Africa Payroll is making strides to be the ultimate African Payroll Solution.
-Kyle Tate