Yalantis Payments: Streamline compensation management within your organization 

Yalantis Payments is a corporate platform for comprehensive employee compensation management. It provides a set of tools for financial operations and a complete overview of the company’s employees, including personal and job information outlined in employee profiles as well as levels of expertise (junior, middle, senior) and departments. In addition to employee information, the platform handles benefits provided by the company and generates financial reports for custom time periods.

Managing compensation in big companies is a chore for the finance department, considering all the benefits, undertime, overtime, unpaid sick leaves, and vacations that impact final compensation amounts. Moreover, processing all this information involves multiple people, leading to the following:

• A substantial amount of time-consuming and error-prone work that overwhelms employees and hampers their performance
• Questionable security of employees’ personal information due to poor data protection measures of paper-based and file-based document management systems 
• A need for additional manual efforts to recalculate compensation and benefits for each employee in the event of unpredictable overtime or sudden benefit submissions 
• Difficulty in obtaining financial reports and documents for the entire company when necessary, as they are usually generated on a monthly basis

The platform provides end-users with the following feature set: 

Employee profile management:

• Up-to-date employee listings. The profile displays active, new, and archived employee profiles, each containing necessary information including electronic contracts and passport scans. An aggregated profile dashboard also indicates employees’ profile completeness and identifies those who lack important documents in the system.

• Updates tab for urgent modifications. This tab indicates whether any necessary changes need to be made to a specific employee’s profile. The system sends notifications based on information added to the HRM system or Jira Tempo and allows accountants to view and accept these details.

Functionality for financial operations:

• Payment table. A payment table is the primary tool for the finance department to automate the calculation of employees’ payments. It allows finance specialists to see the compensation that should be paid to employees at a department level. These calculations are based on an employee’s rate, overtime/undertime remuneration, leadership activity reimbursement, margins (if employees have received a loan that needs to be repaid), compensation for coworking, insurance, or sports. All fields can be filled and edited manually or pulled from integrations with tools like HRM systems.

• Multi-currency support. An employee’s final compensation amount can be converted to the payout currency according to the current exchange rate. Exchange rates are synchronized with banking systems and are always up-to-date. If necessary, an accountant can set a custom rate.
• Payout management. The finance department can set a payout date, create in-advance payments, select a payment provider, approve payments, and see totals left to pay and net pay.

Reporting and documentation management:

• Analytical module with a comprehensive reporting system. Users can generate and download monthly and quarterly payment reports (with data on the status and number of payments per employee over a selected period), compensation types (with data on social compensation per employee and department), overtime and undertime of each employee, and totals for salaries and raises by department. 

• Document management. The system stores documents such as coworking acceptance certificates, a documented fee description for each employee, employee–company invoices, and company acceptance certificates. 

Secure platform management:

• Role-based access control (RBAC) module. Users with administrator rights can assign roles with a specific set of permissions to other users. This allows administrators to limit access to functionality according to a user’s role in the company so all financial and legal information is available only to the responsible person.
• Single sign-on (SSO) for secure authorization. Users can sign in to the platform using their corporate Google accounts. This eliminates the need for password management.