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Revolutionizing Compensation Accumulation and Payroll Reporting

For too long, global mobility professionals have dreaded compensation accumulation and payroll reporting. The manual process of consolidating compensation data from multiple sources like HR systems, relocation providers, and vendors has been a nightmare - extremely time-consuming, expensive, and prone to errors.

In a recent The View From The Top show, Benivo shared their groundbreaking technology that revolutionizes this entire process. Their solution automates the consolidation of compensation data from any source into a centralized database. No more chasing down spreadsheets or mapping different templates and terminology.

The true power comes from the insights this centralized data enables. With data visualization dashboards, mobility managers can analyze costs by:

  • Employee demographics
  • Business units
  • Locations
  • Supplier
  • Cost type
  • Currency and more.

Historical trends and seasonal patterns allow predictive analytics to forecast when costs will hit the business.

This elevates compensation accumulation from just data consolidation to a strategic planning capability. Mobility leaders can model cost impacts, identify optimization opportunities, and make data-driven decisions. They can easily compare actuals to estimates and slice data by temporary accommodation, shipping, or any other expense category.

Payroll reporting also becomes vastly more efficient. Benivo's technology automatically generates payroll reports in the precise format required, with accurate tax positions, gross-up calculations, wage codes, and more. Mobility just needs to select the payroll period and export the report, eliminating laborious manual formatting.

Best of all, this innovative solution is included in Benivo's standard platform at no extra cost to customers. The time and cost savings are massive, allowing mobility teams to reallocate resources to higher-value activities.

Compensation accumulation and payroll reporting have been stuck in the past, burdened by inefficient processes and skyrocketing costs. Benivo's forward-thinking approach leverages technology and automation to reduce this administrative overhead. Even more importantly, it transforms comp data into a strategic asset for driving mobility program value.

You can access the complete show recording here, or contact us to learn more.

Michelle Curran
Created on 1-4-2024