PAYROLL & FINANCE
OUTSOURCING DISBURSEMENT CAN SAVE COSTS
In any maritime payroll operation, spanning over many countries and crew nationalities, costs, efficiency and accuracy are the main drivers. Crew members, riding teams and marine workers need to be paid on time, in keeping with the terms of their contract. Salary processing requires accurate treatment of tax and contributions and maintaining detailed records of the financial obligations of each individual worker, changes in wage terms and regulations, and keeping the payroll system responsive to the changing circumstances in real time. Managing payroll also means promptly registering new crew and employees as they join the workforce and deactivating those that exit employment. Payroll administration is complex and fraught with risk of exposure for the company. Failure to respond to changes quickly can result in penalties and legal costs, besides loss of workforce morale. Outsourcing payroll management to a specialist can save hundreds of manhours and other resources and ensure better compliance at the same time. Unicrew Management has been offering payroll administration for over 20 years, working with a competent team of collaborators and financial experts to provide seamless solutions tailored to the specific needs of the company.
Payment is the least of your problems
Unicrew Management has earned the trust and respect of seafarers and shipowners alike because of the efficient and prudent handling of large volume wage disbursement and payroll management for international crew and marine workers. Our real-time payroll solutions ensures that international crew, marine technicians and shipyard trades receive their pay on time every time irrespective of where they work. The Global Payroll Package is a flexible option under which clients can chose for the full range of payroll processing services as well as a shared solution where Unicrew is responsible for part of the process. Our payroll services can carry out automatic disbursements while maintaining detailed records of transactions across a wide geography. We leverage our old relationships with banking and fintech entities to move large volume funds simultaneously to different locations in real-time at most favourable currency conversion, transfer and processing charges. Unicrew clients benefit from a range of financial expertise that include generating automatic salary and payslip, registration of payroll transactions, tax withholding and compliance, insurance contributions, statutory reporting, online transfer and retrieval, and facilitating electronic transactions for crew and their family. Most of these functions are automated, giving the client sufficient control over the money trail.
Moving towards digitized options
Our insistence on security and user-friendliness in financial operations with crew and workers who are constantly on the move from one location to another require streamlining legacy payment systems and aligning them to a more convenient and compliant protocol. Each client has a different requirement, and while cross-border transactions are dependent on inter-bank relationships, regular transfer of funds in different currencies require a simplified regime that is responsive to international banking regulations. At the same time, any new system must afford both company and crew full control of the financial transaction at their end so that they are aware of their cash-flow situation. Unicrew Management uses traditional banking channels in combination with advanced Fintech applications to deliver unparalleled efficiency and speed in large volume financial transactions for its maritime clients. Our solutions not only enable payroll disbursals and remittance for shipping companies in real time, comply with payroll commitments and international banking regulations, monitor payments and remittances from start to finish, reduce cash on ships, but also allow seafarers to access their money anywhere in the world and send remittances home. Our virtual debit card, a phone-based digital payment system, can deliver full banking functionality in regions with restricted banking facilities.