Industry
Energy Drink Manufacturer
Background:
For the energy drink manufacturer, the monthly payroll process for its global employees was time intensive, drawn-out, and faulty due to disparate technology and manual processes. Before iiPay, the company’s payroll team faced recurring issues that were never fully addressed. To get by, the team simply found a way around them, usually with error laden manual inputs that put the company at risk. They knew the time had come to make some changes. iiPay’s solution was chosen because of its powerful reporting, flexibility, and service. The payroll manager was impressed with iiPay’s user-friendly reporting function and simple processes. And, because its own processes were long and tedious, the company required a partner who was flexible and offered a leaner payroll calendar. The client also needed reliable customer service, not only to respond to queries but to help them sort out internal processes for a true end-to-end solution.
Project Challenges:
- Declining utility of the existing system or solution over time.
- Staff not realizing the hidden costs in terms of time and money.
- The need for numerous workarounds to make the system work.
- Problems becoming apparent when new managers join the organization.
- An antiquated payroll system that was no longer supported by the helpdesk team.
- Technical errors in the payroll system.
- Out-of-date payroll data causing issues.
- Lengthy and cumbersome monthly payroll processes.
- Lack of payroll control throughout the process.
- Automatic system locks as per the payroll calendar deadline.
- Salary payments released without proper checks and approval.
- Imbalanced monthly General Ledger (GL) produced in the payroll system.
- The need for numerous ad hoc files to reconcile payroll differences.
- Ongoing issues that were never adequately addressed.
- A culture of manipulating the system to achieve desired results.
- Resulting inaccuracies, inefficiencies, and compliance issues.
iiPay’s Solution:
- Solving complex business problems requires time and teamwork.
- Patience is key, and it pays off in the end.
- The energy drink maker provided detailed payroll information, including elements, size, pay date, process, HR policies, and bank procedures.
- Year-to-date (YTD) figures had to be manually reviewed month by month due to inaccuracies in the legacy system.
- Incorrectly set up pay elements in the legacy system needed analysis and correction before being transferred to the iiPay system.
- These challenges extended the project timeline from three to six months.
- Despite the delays, everyone remained patient.
- Four parallels had to be managed due to the extended project timeline.
- iiPay collaborated closely with the customer during implementation, transforming the global payroll ecosystem.
- Switching to iiPay allowed the payroll manager to be more responsive, analyze data effectively, and provide strategic value to the company.
Project Results:
- Proactive versus reactive approach to payroll
- Increased employee satisfaction
- Improved reputation of in-house HR Team
- Collaborative approach with HR
- Smoother payroll flow
- Increased accuracy and compliance
- Improved data quality
- In less than two fiscal years, the client reduced payroll errors by 89 percent after implementing the iiPay solution.