The Hybrid Model Explained
16th February, 4pm GMT
Kirby is a leading Mechanical and Electrical engineering contractor with operations in Ireland, the UK and mainland Europe. Kirby delivers high-value mechanical and electrical engineering contracting services as well as specialist high voltage (HV) and medium voltage (MV) design and construction services to clients across a number of different sectors including Data Centres, Life Sciences and Industrial Manufacturing.
Kirby faced a challenge that is common at many finance and payroll departments at multinational companies-too much laborious manual work and too many hours spent analyzing and correcting payroll data in excel spreadsheets. They needed to manage shadow payroll for secondees in multiple countries and also needed a better way to produce important general ledger reporting. They needed to digitize payroll for their countries and introduce a scalable method of payroll delivery that was capable of keeping pace with their future growth plans.
The solution involved moving from an error-prone manual input and excel based process for payroll data over to a global payroll control platform. On the platform, Payslip ensured that relevant data inputs and calculations were automated and removed the need for endless hours of excel spreadsheet analysis.
Kirby’s payroll and accounting teams worked closely with Payslip’s implementation team to bring through the payroll data and then categorize it and standardize it across their countries-beginning with Sweden and Finland, then moving on to the Netherlands. Payslip automated the data inputs so that they flowed seamlessly into the platform giving Kirby immediate visibility into what was happening with each specific pay run. Previously Kirby had to manually map all their GL codes and this took considerable time. They were able to view their payruns at each stage of the payroll process via a dashboard inside the platform and also use digital calendars to help them track and monitor activity.
Payslip did parallel runs during off cycle periods to show Kirby how the platform leverages automation and standardization technology to speed up payroll delivery and management at both a local country and global level.
Payslip also introduced a better way for Kirby to create crucial general ledger reports for the finance team. Previously they used several excel spreadsheets to merge data manually in order to produce these reports– but now the Payslip platform automates the necessary data fields and mapping codes from multiple sources while applying local FX rates to generate a single GL report containing detailed employer, benefit and project costs in a fast and convenient way.
Moving their country payrolls into a secure, digital cloud environment with automated data flows immediately streamlined payroll tasks and this proved to be a huge timesaver for Kirby. The process now is in stark contrast to the old reliance on excel spreadsheets as payroll is now automated and delivered in a faster, smarter and more efficient manner with each pay run. The level of manual data entry required is now significantly reduced.
Where previously a day and a half was required by the finance team to manually put data and spreadsheets together, on Payslip this workload is reduced to a couple of hours, and this has made a massive difference to their working day.
The standardization and automation of their data has resulted in a standardized and consistent view across countries, and this makes it much easier for them to review and assess what is happening with their payroll – with much more clarity around costs and data that ensures they are audit ready. They now also have visibility and control over their entire workforce from regular employees to employee of record (EoR) and shadow payroll.
They benefit from the digital tools inside the platform such as the dashboard, system alerts and digital calendar- which help them monitor tasks within each payrun in a more convenient way- when you know what has been completed and what has yet to be done, you’re in control of your day.
They also have access to the reporting functionality within the platform and they can now run a range of different reports for macro to micro level analysis, visibility and insight to support business decisions.
Payslip are experts at helping high-growth companies like Kirby introduce major improvements to their global payroll operations. Achieve complete control and full visibility over your payroll using our automation and integration technology. Talk to us today.
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16th February, 4pm GMT