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Slovakia
Challenge
A 100% subsidiary of a foreign parent company developing mobile applications and enterprise information systems was established in 2007. Its offices are located not only in Slovakia, but also in Finland, Estonia, Denmark, Germany, the United Kingdom, the USA, China and South Korea. The Slovak subsidiary carries out software development tasks and sells its services exclusively to the parent company. At its peak, the company employed 200 workers; the current headcount fluctuates around 100.
The reason for acquiring this customer was dissatisfaction with the previous service provider. The company's policy is focused on ensuring absolute employee satisfaction through an informal approach, which also determines the method of communication and engagement with the company and its employees. It outsources not only accounting management and payroll administration, but also the execution of all payments and account balance monitoring. Discretion and the assumption of absolute responsibility for all operations performed and payments made are taken for granted.
Solution
Following the handover of the company, there was a change in the form of communication. Like the client, the ETL EAST group also prefers informal communication. Importantly, the client values a predictable and fixed method of compensation for services provided, without fluctuations, even despite an increase in workload. Automated handling of payroll and personnel administration is a given. Reporting takes place according to pre-established rules, whilst respecting international accounting standards and the parent company's regulations and transfer pricing, on a monthly basis. Adherence to deadlines is an absolutely fundamental requirement given the obligation to disclose data, as the parent company is listed on the stock exchange.
Results
2 positions saved, Three-tier audit, Employee priority, Regular reporting, Document management, International standards
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