Payrolling is a very important and time-consuming element in daily ship management business. It further is a highly vital element as it directly effects the crews/contractor’s wellbeing and his/her performance. Through nearly 30 years of experience in ship management, we have established a large knowledgebase of solutions against potential hindrances arising in global payrolling business. With a strong focus on niche-markets, we are aware of various alternative client-oriented approaches to simplify and optimise their payrolling; also, by overcoming perceived obstacles.
Our flexibility also allows us not only to offer a complete payrolling service, but a direct tailor-made approach. Here each complex item can be discussed and adjusted, or a simple shared solution can be adapted with only parts of the payrolling process being outsourced.
The main items of a complete payrolling service are as follows:
Contracting of seafarer/crew/contractor
Administration of payroll transactions
Regular wage accounts/payslips
Salary/fee distributions
Complete eWallet solutions
Advisory/handling of tax and social security payment
Handling and arrangements of Cash to Master deliveries
This is only an overview of the main services within payrolling, whilst each client certainly has many other parts which can be incorporated or adapted to. Despite being a direct client-oriented service provider, our approach can easily be scaled to handle largest numbers of seafarers/crews/contractors in various industries.
eWallet
In addition to payrolling, or even without, we can also implement a fully digital financial solution on your vessel. With our eWallet service your complete payrolling will be managed in a purely digital way, increasing the efficiency in transfers, and reducing costs for transfers and cash to master deliveries.
In a nutshell, each crew members receives a digital app controlled eWallet to which he receives his salary. He has the option to then split his salary and transfer it to any account he wants. This wallet can also be used at points of sale (POS) or at ATMs to retrieve physical cash. The eWallet is multi-currency so that the amount transferred or withdrawn can be changed in the receiver’s currency, avoiding expensive operator exchange rate fees.
Bonus payments, cash advances can all be paid onto the eWallet. With a working POS on board, the bonded store can be digitalised completely as well. All is combined in one platform, reducing paperwork for both the office and the vessel, the office has full transparency and control over the funds and the crew members full control over their money one on their eWallets with the benefits that managers have no responsibility about money distributions to various accounts and real-time access with notifications, reducing questions and concerns about salaries and payment times.
This might sound complex at first, but our solution will be simple.
For fuller information or a tailor-made example or approach, please contact us.