The Hybrid Model Explained
16th February, 4pm GMT
A leading aviation services and support company who provides key engineering services across a number of countries.
The client was experiencing some of the most common payroll challenges that we hear about in the industry when we talk to our clients. These challenges surfaced as a result of their workforce being spread across several different countries. Their spread of employees can be characterized as long tail – this occurs when a large number of employees are based in one or two countries, but a smaller number of employees (less than 10) are then spread across several other countries. This tends to result in payroll management issues, and they faced the following challenges:
They were keen to reduce the complexity they were faced with and have a more standardized payroll process. A
process that would provide them with greater visibility and control over their payroll operations. One which would allow them to retain direct relationships with their preferred payroll providers. And crucially, one that could result in standardized reporting that could supply their finance department with real-time information around their payroll.
We worked hard to quickly integrate their systems with the Payslip platform. We received their payroll data files and went about the process of building formatted files that would allow them to schedule and perform payroll bank transfers for multiple countries in a single day. We achieved this by creating a single multi currency bank file containing the relevant data for all of their employees. Their country payments process is now fully automated.
We also created a general ledger file which could quickly extract payroll data on the same day the payroll was processed. They received standardized data that was the same for each country giving them immediate high- level insight into their payroll calculations in all the countries in which their employees were located.
Thanks to our software, they moved from a very manual process to a scalable payroll with common workflow steps, automated actions and standardized data flows across all their countries. This greatly reduced their processing times. Their payroll payments process is now automated across all of their countries, resulting in a 95% time saving for their Treasury & Finance professionals.
Payroll staff were able to view workflows in common formats making it much easier to see what is happening across their multi-country payroll. They now have access to all employee information and payroll data in one area, giving them the centralized control via a single dashboard.
Senior management benefitted from stronger visibility of the overall process and consolidated reporting for accurate payroll information and metrics.
Payslip are experts at helping companies introduce major improvements to their global payroll operations. Achieve complete control and full visibility over your payroll using our automation and integration technology.
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16th February, 4pm GMT