Bringing order to the financial sector
Before we started our work with a major financial institution, they relied on a relocation company and a tax provider to handle the majority of their global mobility needs. The processes used by each were manual and information about their overall program was hard to access.
We joined forces with the client and started to bring key elements of their program in-house right away. Leveraging our software, we put a systematic approach in place for assignment initiation, cost estimates, balance sheets and payroll. More recently, we began providing expense management services and compensation collection reporting. The immediate result was greatly enhanced tax compliance and an understanding of their total assignment expenditures that they didn’t have before.
The client underwent several transitions in the last few years, and the flexibility Polaris offers was key to weathering the changes. In 2010, their merger with another financial institution resulted in a full policy review and the introduction of a core/optional policy approach that we supported. All of the merged assignee details were uploaded to Polaris as well, and we became the new merged company’s system of record.
Working together to solve the evolving needs of a business undergoing significant change, we’ve created a true client and vendor success story. We continue to work hand-in-hand with them as we look to add even more automated functionality, enhanced reporting features, and leverage our progress in expense management to offer accruals.