Mass Payment & Payroll Solutions: A Global Commodity and Mining Industry Case Study
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Ebury specialises in global cash management solutions including cross-border payments and payroll solutions. It’s our goal to make conducting business around the globe as simple and efficient as possible.
Company Overview
This 10+ Billion (USD) global commodity company, operating in 10 countries with over 26,000 full time employees, has chosen Ebury’s Mass Payments division to pay employees across 7 of their African sites.
The company was previously using its banks to manage payroll payments to employees. However, they were unreliable, expensive and operationally burdensome. The banks were also unable to pay certain local currencies, requiring payments to be made in US Dollars. This meant not only paying expensive overseas delivery charges, but also paying additional amounts to cover the unknown exchange rates used by their employees’ banks, as this was historically the only way to get salaries to credit in full.
In addition, some employees were unhappy as they were not receiving money in their preferred currency, requiring another conversion to send money back home to their families. A mixed local and expatriate workforce meant increasingly complex payroll demands for the company, with employees wanting greater flexibility and how and where their salaries were paid. The company wanted a better way to manage its African payments, centralise their banking relationships and enhance employee satisfaction.
Transition to Ebury
The company was introduced to Ebury’s extensive local payment capabilities, unrivalled currency coverage and expertise in managing international salary payments. Ebury’s solution is delivered through its easy and intuitive platform; giving instant access to over 145 currencies, local and domestic delivery, through a single, central user interface or file transfer. Ebury took time to understand the company’s requirements, design a service plan and coordinated the implementation and training via its dedicated payroll client servicing team. Ebury engaged the company and its employees to design a bespoke solution. This enabled it to pay employees in their desired salaried currency by using a ‘Split Payroll’ for employees having multi currency payroll needs. Ebury’s experienced implementation team managed the data migration and account management, switching over seamlessly.
Key Benefits
The commodities company is now saving in excess of 60% on their bank charges, are able to trade and pay in local currencies and manage all payments across the region. The centralisation and simplicity of a single payments platform across the entire continent has also increased speed, reliability, and improved execution rates for all its African payments. The outcome of which has, according to the company, improved employee satisfaction “immeasurably”. The company wanted a better way to manage its African payments, centralise their banking relationships and enhance employee satisfaction.
If you would like to know more about our Mass Payment or Payroll solutions or would like us to do a cost analysis of your current processes, please reach out to our mining specialists:
Eurozone
0203 9665 573
Asia
+65 6817 5248
Americas
+1 647 694 2122
Email at:
[email protected]
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