How Fyorin delivered fast and secure payroll payments to Buddy.hr

Salary payouts was a major challenge for the clients of Buddy.hr. They needed to rely on manual bank transfers or bank file uploads which, firstly, is only available to employers with over 20 staff members and was not secure or timely. It involves uploading a file with employee details and sending it to the bank for approval which means potential issues with validating amounts, risk to staff details being compromised and delay in sending out the salary payments. Low-earners and those expecting to receive their paychecks on Fridays may find it particularly frustrating if their paychecks are delayed. Additional problem is processing payments for GiG workers, contractors and freelancers in multiple currencies. Because these needed to be processed separately from the rest of the payroll, employers often needed to do those manually and open multiple bank accounts with different financial institutions to get access to the desired currencies which increased operational cost and added extra manual work. Employers are increasingly seeking a fully automated and digital experience that streamlines the payment process, but also ensures faster and error-free payments, ultimately allowing their employees to get paid sooner.

Fyorin has delivered a game-changing solution through seamless integration with Buddy HR making salary payouts faster, more secure and accurate. Employers can now see and approve the exact amounts to be paid out and expedite salary payments directly from the platform or schedule them for later, catering to individual payouts or bulk payroll runs. Fyorin gives Buddy.hr access to multiple domestic payment rails, extending beyond SEPA, making salary transfers fast, traceable and transparent. This means employees receive their earnings in a matter of seconds. Additionally, through access to our global network of financial institutions, the clients of Buddy could bank with multiple institutions as they would with one. This meant that they no longer needed to open separate bank accounts to process payments in new currencies for GiG workers and contractors around the world.The Fyorin solution also features streamlined approvals and reliability. All data, including KYC, payment details and payroll, flows seamlessly from Buddy.hr to Fyorin, ensuring a hassle-free payment process and reducing the possibility of errors. With real-time updates for salary payments, employers can deal with any issues as they happen without disrupting other employee payments. Thanks to integration between Fyorin and Buddy.hr, employers can eliminate the laborious process of entering bank details for each employee and reduce operational costs.Fyorin also offers supplementary features for Buddy HR clients such as virtual cards with cashback on every purchase, access to a bank account with a global IBAN. Automatic reconciliation of payrolls and employee expenses is facilitated with the two-way sync with a preferred accounting platform. Fyorin also allows clients to connect existing bank accounts, giving them a comprehensive view of their cash position from a single dashboard, simplifying treasury management.Fyorin's comprehensive solution streamlines payroll processing as well as financial management, offering businesses a robust set of tools to optimize their processes.

The results Fyorin delivered for Buddy.hr is empowering employers to run payroll operations with efficiency, speed, security and accuracy. Our payment capabilities brought significant time savings by eliminating manual data entry and seamlessly transferring data between systems, which means less errors that previously required time-consuming identification and correction. Smaller and larger employers alike can now expedite salary payouts with the same efficiency and can rest assured that all payments are processed correctly and on time. Timely delivery of earnings keeps both employers and employees happy. Thanks to Fyorin’s Global Wallet capabilities, combined with bulk payments in the same platform, employers could expedite all salary payouts, both employee payroll and contractor payments in one place, saving time and reducing operational cost. Fyorin's integration with Buddy.HR enhances compliance and payroll security. There is no manual data entry or transfer of files which means that staff data is secure and all mistakes are captured and flagged as they occur. Fyorin has brought about a fully integrated, simplified and digitized payroll processing and payment system. On top of managing payroll, Fyorin delivered virtual cards, expense reconciliation, and spend analysis in the same platform, reducing subscription costs and operational costs for Buddy.hr clients.