As a payroll professional, you know that every dollar counts and it’s essential to have a treasury services partner you can trust. You’re entrusting them with significant financial transactions for your business, and you want to ensure that they can not only process the transactions but also do it accurately.
To get it right, iiPay ensure that your employee and third-party payments are made on time and accurately in each country. Additionally, you’re relying on your provider to deliver:
Partnership: A partnership with iiPay who understands your payroll and has the goal of simplifying the end-to-end process with you is critical. It enables you to know that the provider is working with you to achieve your payroll goals, including your treasury options.
Time efficiency: Having iiPay handle your treasury payments frees up your time and allows you and your payroll team to focus on other value-added activities.
Cost reduction: Partnering with iiPay who already process a high volume of foreign exchange transactions and payroll-related payments allows your company to benefit from the better rates that iiPay can negotiate for those exchanges and transactions. This reduces the overall cost of getting your global employees paid.
Mitigated risk of errors: Cross-border financial transactions can be complex, but using iiPay’s treasury service with automated processes and experienced staff reduces the likelihood of errors and non-compliance.
Audit trail: iiPay maintain a record of all transactions as they occur, which means that a statement of account, including treasury transactions, is available at any time for internal or external audit.
Comprehensive service: The treasury service is the last step in the end-to-end payroll process. Having iiPay, as your global payroll provider who can also provide the treasury service allows one trusted partner to manage your payroll from A-Z, keeping all records within the same system and format, and with a company that already knows you and your payroll.
Expertise: iiPay’s treasury team working alongside our global payroll operations teams are experienced and knowledgeable in processing payrolls and other related payments. They have a deep understanding of correction methods in case a payment is not received. These subject matter experts create a client-centric calendar while working around public holidays in various time zones to ensure your employees are paid accurately and on time.
As a company expands across multiple countries, there is an expanding risk landscape in global payroll. Working with iiPay can alleviate emerging issues and concerns. With market complexities and changing regulations, as you build out your treasury program, there is increasing value in moving beyond the status quo of bank files and manual processes. In addition to enabling business-as-usual (BAU) activities, treasury services can support the execution of company-wide money movement strategies.
iiPay’s Treasury Services
With iiPay you work with a trusted partner that provides confidence in managing your money movement, innovative technology, reporting, and meeting your overall global payroll requirements.
Partnering with our clients is an important factor in retaining and growing a successful relationship in Global Payroll. At iiPay, this includes the relationship with Treasury Services and has an impact in the success we have in managing money movements for our clients.
Our goal is to simplify the payment process for our clients across their international payrolls. We appreciate that the employee and employer payment rules vary by country and our clients may have a multitude of funding currencies. For each client and payroll, we define the payment process and build this into our managed service deliverables and contract. iiPay offers options for our clients including local bank files, centralized funding, and payment output files, as well as a hybrid solution. We work with each client to build a global solution that meets their needs.
Our experience working with money movement/treasury services has led us to help companies focus on three strategic areas to improve their global treasury function:
- Centralize the treasury functions globally
- Strengthen governance
- Increase the use of technology
