This investment located in Slovakia has been the largest greenfield project in Europe in the last years. The client had limited experience with the local legislation and potential pitfalls.
This project-oriented approach included tailor-made consulting during the implementation phase, assistance in setting up of accounting, payroll and tax processes, implementation of ERP system for accounting and payroll, tax advisory in line with the Slovak legislation and in later phase assistance with SAP system implementation.
Forvis Mazars had to prove security of IT systems through various penetration tests and all systems used for the client had to be transferred to encrypted servers.
The initial period of cooperation was limited to 6-18 months. Now, after 5 years of cooperation, the company is still our client. Forvis Mazars is currently providing payroll services (about 3500 employees), bookkeeping related payroll, bookkeeping related to employees 'expenses (travel expenses, credit card payments, mileage logs) and tax advisory and compliance related to corporate income tax and motor vehicle tax.
Moreover, Forvis Mazars is implementing a new web portal for employees, where they can fulfill their expenses and data from the portal are automatically transferred to the accounting system.
A global automotive manufacturer and leading technology company.
Both Castel and Forvis Mazars share a relationship of trust and mutual understanding of challenges. The client can fully focus on its core business and be sure of compliance and conformity with the ever-changing regulations. Forvis Mazars is proud to be a trusted partner to Castel in Poland for almost 25 years. Castel started working with Forvis Mazars also in the Czech Republic in 2009.
Our expertise has helped Profoto to improve its flexibility, to increase the reactivity of its service level and to fully integrate the accounting with business operations.
Salary calculation for around 150 workers in about 24 hours from receiving the required input. Current model which Forvis Mazars helped design meant increased efficiency, better accuracy of salary calculation, minimising the risks and saving time.
Forvis Mazars took over the payroll agenda over the course of 2 weeks. The mutual cooperation has continued to the client’s satisfaction till nowadays.
The new model implemented led to a significant increase of efficiency with the client finance team and Forvis Mazars team being decreased at its minimum compared to initial in-house processing. Indeed it enabled shorter deadlines for the deliveries with higher quality. Finally L'Oréal gets access to an easy substitution of its team in case of illness, holidays or season peaks.
Local compliance activities, including tax, statutory financial statements fillings, corporate secretarial services and payroll for more than 30 countries, covering a total of more than 450 legal entities.The services provided by Forvis Mazars have made the global compliance easier and have facilitated the harmonization of the procedures across the globe with full transparency on the processes.
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