Skip to content
FNZ: Transforming global payroll to centralize operations and leverage Workday integration
“The main thing was about consolidating a global payroll solution across multiple countries using the same processes, the same platform, the same methodologies, and ultimately get the same result, which is a high-quality payroll solution for our customers.”
– Paul Wickes – Group Head of Global Payroll
Following many company acquisitions, FNZ’s payroll team inherited a disparate payroll landscape with several vendors, all of whom had their own ways of working, rules and reports. The lack of correlation between them meant it was near impossible to deliver true payroll governance and reporting was manual. FNZ set out on a transformation project to centralize payroll with CloudPay, bringing together all payrolls under one roof and integrating with their Workday HCM.
FNZ is a global financial services company that provides investment platforms to major financial institutions and wealth management firms. Headquartered in London, UK, the business operates in over 20 countries across the world.
- Industry: Financial services
- Use Case: Global payroll transformation
- Employees: 5.2k
- Countries: 39
- HCM: Workday
Highlights
Centralizing 39 payrolls with one vendor
Integrated payroll & Workday HCM
Improved control, data visibility & employee experience
The Challenge
Following business expansion through acquisitions, FNZ had a disparate payroll landscape, with a large number of payroll vendors providing services and individual countries ‘doing their own thing’.
- Fragmented global payroll with a disconnected group of 22 vendors across 25 countries, all operating their own processes and rules, and with differing reporting and appetite for compliance.
- Many processes were manual and there were multiple touchpoints across payroll, finance, HR and the vendors, leading to increased errors and less control.
- Lack of integration between payroll and Workday also meant that there was collation of manual reports.
The Solution
FNZ decided they needed to find a partner in payroll that could help centralize global payroll and integrate with the company’s chosen HCM platform, Workday.
- CloudPay now manages 39 payrolls across 21 countries for FNZ, serving more than 5.2k employees.
- A certified bi-directional PECI integration between Workday HCM and CloudPay is also in place.
- Workday sends data directly to the CloudPay platform and pay documents are delivered straight back to Workday.
Results
Working with one vendor and integrating payroll with Workday enables FNZ to unlock several benefits for the business and employees alike. The payroll team can now:
- Be confident that they are meeting everchanging compliance requirements globally.
- Provide better payroll visibility through real-time analytics and meaningful performance metrics with customizable reporting.
- Begin working towards delivering a better employee experience with pay documents available in Workday.
Where to next?
Webinar
Why not all Workday & payroll integrations are equal – 31 January 2024
Blog
The Secrets of a Successful Global Payroll Transformation, from an Expert
Video
See Ed Harris, UK Payroll Manager at FNZ Group describe their relationship with Cloudpay.