A 10+ billion-dollar global commodity company, operating in 10 countries with over 26,000 full time employees
The company was using banks to manage payroll payments to their employees. However, they were unreliable, expensive and operationally burdensome. The banks were also unable to pay certain local currencies.
Employees were unhappy as they were not receiving their pay on a timely basis and in some cases not in their preferred currency, requiring another conversion at their own expense. 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 payments, centralise their banking relationships and enhance employee satisfaction.
By using Alight Payment Services, the organisation was able to:
- Increase currency and country coverage
- Centralise payment and treasury reporting
- Cut payment charges by 50%
- Remove the need for ongoing FX adjustments
- Reduce payment time from 5 days to 1 day, improving the organisations payment cycles and cash flow