CASE STUDY

Case study: Commodity organisation using Strada Payment Services to manage payroll payments to their global workforce

CASE STUDY

Case study: Commodity organisation using Strada Payment Services to manage payroll payments to their global workforce

The company was using banks to manage payroll services payments to their employees.

However, they were unreliable, expensive and operationally burdensome. The banks were also unable to pay certain local currencies.

Global commodities
Industry
26,000
Employees
10 countries
Operations

Key Facts:

Increase currency and country coverage and centralise payment and treasury reporting.

Cut payment charges by 50% and remove the need for ongoing FX adjustments.

Reduce payment time from 5 days to 1 day, improving the organisations payment cycles and cash flow.

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