Industry:
Automotive Manufacturing
Background:
A luxury supercar brand with a market value of $1.5 billion, it specializes in crafting high-end sports cars, emphasizing innovation, and boasting a rich heritage of outstanding design and engineering. Their payroll was facing challenges in eight different regions, necessitating the engagement of an external payroll provider. The company lacked significant in-house expertise in managing global payrolls. Thus, it was imperative to identify a payroll partner well-versed in all facets of international payroll, including treasury and banking functions, and possessing extensive knowledge of labor regulations specific to each country. Additionally, they required a payroll service capable of adapting to the ever-changing nature of their business.
Setting iiPay apart from other providers was its commitment to transparency, dedication to service excellence, and a collaborative partnership approach, distinguishing it as an ideal payroll solution.
Project Challenges:
- There was zero confidence in the incumbent provider across all eight regions.
- The processes were all done manually from input through validations and payroll approval.
- Mistakes caused numerous employee calls that the client’s in-house staff had to resolve.
- They are a dynamic, growing company, and changes took too long to enact.
- The business had minimal global payroll experience.
- They needed a provider proficient in all aspects of international payroll, including treasury and banking, with comprehensive knowledge of country-specific labor regulations.
iiPay’s Solution:
- Automation: iiPay systems automate tedious tasks and identify anomalies during verifications.
- Transparency: Our thorough due diligence gave us the understanding to plan operations and manage the transition from the previous payroll provider’s systems to ours. Process efficiency and systems integration professionals were on hand every step of the way. We called on experts in each region to assist with the implementation. If a glitch occurred, we told the client and fixed it fast.
- Project Management: The iiPay team that would take over operations attended every meeting with the implementation team and the client’s payroll group to ensure the hand-off to operations was seamless.
- Collaboration: The use of secure collaboration tools ensured personal data was safe. The client’s organization had a safe way to transfer instructions and information through the transition.
- Phase One: Due Diligence
- Phase Two: Implementation and Shadow Payrolls
- Phase Three: Payrolls Go-Live
Project Results:
- Every aspect of the implementation was finished on schedule or ahead of time.
- All eight payrolls are operating at 99.8% accuracy and on-time delivery.
- iiPay’s automated systems verify both the data submitted and the calculations for each payroll. That saved the internal team days of work and assured the highest accuracy rates and on-time delivery of payrolls.
- Centralized funding created immediate efficiencies and reduced the risk of missing multi-currency payroll.
- The iiPay Global Workflow gave the client access to payroll data they’d never been able to see before. Deep drilldowns within the dashboard presented up-to-the-minute costs per payroll and elements reports.
- A consistent approach to processes and formats for payroll submission is in place.
- Our partner, the Orenda Group, creates automated pension reports that relieve the client’s internal team from manually preparing and delivering declarations to third parties.
- A meticulously documented structure was implemented for cost centers and pay elements.
- iiPay account leaders are empowered to make things right for the client team with fast procedures to make changes.
