The Challenge
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.
Outcomes
By using Strada 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
