Payslip help fintech Wave scale
rapidly while managing global payroll
Rapid implementation of 7 new payroll countries
Wave’s goal is to build a radically inclusive and extremely affordable financial network in Africa. On a continent where less than 10% of the population has a bank account, Wave uses technology to build the first modern financial network no account fees, instantly available, and accepted everywhere. Their mission is to make Africa the first cashless continent.
During a period of intense high growth, Wave had a pressing need to quickly set up new local country payroll providers to ensure accurate payroll and compliance for recently recruited employees in their new countries. They also required a technology solution to help them standardize their payroll processes & workflows and deliver essential multi country payroll reporting.
The Payslip Solution
The Implementations and Client Success teams here at Payslip entered into some detailed conversations with our counterparts at Wave to identify their critical business needs in relation to global payroll delivery and management across their new network of countries.
Wave came on board as a client in December needing an urgent solution that involved the rapid setup of seven new payroll countries across Europe by January. They required a technology partner with global payroll implementations expertise and access to a network of local country payroll providers.
We began by identifying local providers in each country and determining the country footprint. We then took detailed information on Wave’s specific payroll requirements across these countries including information around country specific pay elements that needed to be built. We examined the ICPs capabilities to make sure they were able to accommodate Wave’s potential future employee growth for example.
Local country registrations and labor law compliance were an important part of the process, and Payslip were forced to navigate some Covid 19 related challenges which made it difficult to access and gather all of the information we needed for the client.
We worked directly with the ICPs to ensure that they fully understood Wave’s specific payroll requirements and help them put in place the structure and processes to ensure that the local country payrolls were set up in the correct way.
Using our internal Implementation Paybook, Payslip and Wave structured the payroll processing steps in a user friendly and transparent way and then worked with the local ICP to define deliverables and schedule activity timelines. Payslip technology facilitates a rapid deployment structure, enabling all parties to make quick progress to support fast onboarding and the effective delivery of global payroll processing in each payroll country.
“Payslip positions your team for success and allows you to onboard hundreds of people when you need them very quickly and efficiently, in the same way for each country. The uniformed approach empowered our payroll teams to keep pace with our business.
“Payslip also made our payroll process entirely transparent, which is invaluable to our payroll teams as we continue to grow and scale at such a rapid pace.”
Travis Saville, Global HR Systems Owner at Wave
Rapid implementation of 7 new payroll countries
As a high growth organization, Wave needed technology partner to help them develop a scalable and transparent payroll process that could move and scale in line with their growth levels. They also needed to operate with a technology stack that could empower their employees with self service access to their payslips.
Payslip successfully onboarded 7 new payroll countries ahead of schedule. The planning, testing, go live and post implementation work was all carried out with impressive speed and operational efficiency. We then helped Wave ensure that the appropriate teams got the right level of training required to operate within the Payslip platform. This helped payroll professionals in their African payroll teams to advance from local country only to a more global role, enabling them to provide additional support to the international payroll team while also developing their own careers.
On the Payslip platform, Wave are now able to generate crucial general ledger files and share them with their colleagues in the finance teams who can process this data for essential reporting to inform strategic decision making during this period of high growth activity. Their multi country global payroll now operates with standardized data, processes and workflows and they also benefit from detailed, comprehensive and consolidated multi country reporting and analytics. This level of reporting provides detailed macro and micro level insight as well as essential country costs comparison data that helps them view, manage and control the global payroll processes in their new countries.
Wave views Payslip as a global payroll technology partner who can strongly position them for current and future scaling. Our data standardization process and global first data model ensures that repeatable and recurring workflows can be duplicated across new countries when they are needed, so Wave are thrilled to know that they are in a strong position to scale into more countries whenever they need to.
Payslip have a lot of experience helping companies introduce efficiencies to their global payroll operations. Our automation and integration technology helps them overcome key challenges while providing them with control and full visibility.