Increasing volume and the types of payroll and equity data increases the risk of data inconsistencies between your operations and the data held by your payroll vendor or equity management firms. These inconsistencies can potentially lead to significant noncompliance penalties and negative implications for your employees.
Relying on outdated spreadsheet models can also compound reconciliation struggles, should data gaps emerge that your team must manually address—like identifying and repairing data errors or correcting employee W2 forms.
Validate your data and enhance your management systems with an equity payroll reconciliation process that can translate into significant time and cost savings.
Overcome Reconciliation Challenges
Overcome costly equity payroll reconciliation challenges with guidance from our professionals that may help you obtain significant benefits including:
- Improve Data Accuracy and Reliability. Gain cleaner HR information, timely tax reporting, and improve inter-system communications by eliminating opportunities for human error.
- Establish a Sustainable Infrastructure. Replace cumbersome manual, spreadsheet-dependent processes that can’t support the fast-paced equity compensation requirements or organizational changes by adopting a more automated and holistic reporting approach.
- Reduce Administrative Burden. Lessen time-consuming work of finding and repairing data errors, boost resource utilization, and make space for value-add work with a reconciliation process with fewer touch points.
- Facilitate Timely Compliance Reporting. Meet IRS and SEC mandated reporting and deposit deadlines, like T+1, preventing fines and penalties associated with late filings.
- Proactively Audit Data. Avoid the stress and expense associated with year-end equity payroll reconciliations by empowering your team to perform data audits and reconciliation checks throughout the year to proactively address issues and keep data accurate.
Equity payroll reconciliation can help address a range of continuously evolving challenge areas, including:
- Moves between cost centers, pay frequency, or payroll systems.
- Changes in employment status including terminated or rehired staff.
- Custom employee benefits developed for targeted recruiting and retention.
Support for Companies at Every Stage
Equity payroll reconciliations can support your organization wherever it may be in its lifecycle with our professionals addressing the unique needs of each stage while positioning your organization for what’s next:
- IPO Readiness. Create a solid foundation for your upcoming IPO by establishing a viable equity payroll reconciliation process that can support you through the IPO journey.
- Recent IPOs. Manage the influx of compliance requirements, rapid growth, quickly changing data, and increasing equity and payroll systems with a reconciliation process designed to address your new landscape.
- Public Companies. Establish a sustainable reconciliation process that can manage complex equity and payroll systems efficiently and accurately while maintaining the agility needed to respond to change and growth.
Depending on your need or readiness, our professionals can provide various levels of solutions:
- Data Analysis. Evaluate your current data standing to identify and address immediate needs and concerns.
- Solution Integration. Leverage technology applications to identify ongoing gaps and challenges while reducing opportunities for human error and supporting ongoing maintenance and security.
- Customized Solution Development. Build a custom cloud-based tool specific to your organization’s unique reconciliation needs.