Global compliance at Regus
Challenges
Regus implemented a Shared Services Center (i.e. SSC) in Prague before his migration to Manila, Philippines, to cover Accounts Payable, Accounts Receivable and General Ledger transactions for most of their subsidiaries abroad. Regus was looking for a global partner to take care of all “government facing operations“ with a capability to implement coordination to ensure a perfect link with the SCC and regional Local Services Centers (i.e. LSC).
Solutions
Forvis Mazars has been appointed to support Regus with local compliance activities, including tax, statutory financial statements fillings, Corporate Secretarial services (i.e. COSEC) and payroll for more than 30 countries, covering a total of more than 450 legal entities. Forvis Mazars implemented a framework agreement to streamline the governance globally including coordination of the different activities and countries. On top of the local delivery, steering committees have set-up at global level to assess Forvis Mazars’ performance through KPIs defined in cooperation with Regus.
About the company
Regus is the world’s largest provider of flexible workspace solutions, with customers including some of the most successful entrepreneurs, individuals and multi-billion dollar corporations. The company‘s network includes almost 3000 business centers, spanning almost 900 cities across 120 countries.