A Finnish Multinational Telecom Company Simplified Its Payroll & Compliance Across 7 Countries With Mynd

A Finnish Multinational Telecom Company Simplified Its Payroll & Compliance Across 7 Countries With Mynd

The Client

Our client is a public listed, leading telecommunications company present in over 100 countries with a vision of shaping technology. While the payroll operations are streamlined across the world, the client was challenged at various levels in dealing with compliance in Africa, and managing different channels with multiple vendors. Mynd was a timely introduction to the client who was looking for a solution.

 

The Challenge

The client’s presence across various African countries with different laws and complicated tax structures was a burden on the payroll team that was managing tasks from India. Africa’s tax structure including exemptions is dynamic, and the changes or improvisations that happen frequently require regular updation. Regulatory requirements can change often, with little notice, and the penalties for non-compliance can be severe, even leading to cessation of operations if employees and taxes are not paid properly.

 

The main challenges were:

  • Lack of local representation in countries.
  • Lack of reliable sources to provide amendments in legislation.
  • Lack of online access to information.
  • Multiple vendors for multiple countries with fragmented data and inconsistency in reporting.
  • Lack of transparency in functioning of vendors.

 

Country-specific challenges included:

  • Grossing up of various benefit components with various exemptions and rebates was complicated. We considered various factors including company’s philosophy and past practices that don’t result in disparity.
  • Annual leave pay reconciliation had to be done for the previous financial year to ensure the correct leaves were carried forward and tracked.
  • Reporting requirements from the client’s stakeholders were many. The pre & post payroll reports consisted of minute detailing with various components. Pay slip format was customized to meet client’s format in every country besides adhering to local laws.
  • Configuring the reports and delivering in the parallel run was more than challenging, and was a unique expectation of the client.

 

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