How consistent, compliant and effective is your contingent workforce payment and invoicing process?
CXC is the trusted contingent workforce payroll provider to organisations, partners and contractors in over 50 countries globally. We ensure consistent and reliable payment cycles with all contingent workers; with multiple checks and balances in place and a dedicated client services team, we have established robust measures to minimise payroll issues.
CXC takes the responsibility for managing the livelihood of our contractors very seriously. The time capture and approval process is supported through a combination of automated and human interactions that assist hiring managers and contractors to complete the process in a timely and compliant manner.
CXC provides our contingent workers with a detailed payroll calendar, outlining key dates for timesheet submission to ensure timely and accurate pay cycles. Our system creates automated reminders over email and SMS at set points, such as timesheet access and payment confirmation.
With increasing complexity and ever-changing regulatory requirements, including reporting and data security, CXC’s processes and systems are efficient and fully compliant. Where CXC engage all contingent workers on behalf of an organisation, invoices are consolidated into a single client invoice, with CXC distributing payment to the workforce and suppliers.
How we can help
- If required, we can capture purchase order (PO) information and project codes, and contingent workers receive payment on a set calendar date agreed with you.
- CXC is able to accommodate weekly, fortnightly and monthly payment cycles.
- Our MyExchange portal enables contractors to lodge time and attendance sheets and expense reimbursement claims, review the status of each lodgement, as well as review historical timesheet and expense claim submissions.
- Once the contractor submits a timesheet, the hiring manager is notified and prompted to review and approve the timesheet.
- Information is automatically linked to our payroll system, enabling us to complete the payroll process based on approved timesheet data.
- Hiring or approval managers can view current and historical spending, rejected and approved status timesheets and expense claims for all individuals under their management.
How does CXC’s payroll process work?
We have a straightforward payroll process backed up by the automation from our proprietary MyExchange system. Steps include:
- Contractors receive a timesheet reminder SMS on a weekly basis to ensure they submit their timesheets.
- Contractors submit their timesheet and expenses through the CXC portal, MyCXC.
- Managers will receive email notification to approve time or expenses.
- Contractors will receive email notification once approved by manager.
- CXC will submit an automated invoice to the client for payment.
- CXC payrolls contractors and pays any statutory or supplier payments as per agreed payroll cycle.
- Contractors will be able to view their RCTI/Payment Advice through MyCXC.
- When a contractor is offboarded, outstanding timesheets are tracked and followed up.
How does CXC’s technology support the payrolling process?
CXC’s proprietary contractor management system, MyExchange, is designed to enable and automate onboarding, time and expense management, giving contractors a seamless, self-service experience.
A component of MyExchange that facilitates the invoicing, timesheeting and expense management process is our purpose-built online portal, MyCXC. The online portal automates the timesheet submittal and approval process, as well as providing an audit trail for this process.
MyCXC enables the individuals to lodge time and attendance sheets and expense reimbursement claims, review the status of each lodgement, as well as review historical timesheet and expense claim submissions.
The portal also enables the hiring/approval manager to view current and historical spending; rejected and approved status timesheets and expense claims for all individuals under their management.
What payment cycles do you use?
CXC has experience paying contractors under various payment cycles, including weekly, fortnightly or monthly. The majority of our contractor base are paid fortnightly.
We run payroll every day of the week, hence the frequency will be directly linked to your timelines. Once we understand your pay cycle, we provide contractors with a schedule outlining when timesheets need to be submitted to ensure they get paid on time.
What about complex bill rates?
CXC manages customised payment calculation and payment processes across more than 40 countries. We have provided a number of case studies where we’ve needed to customise payment solutions for
- A large technology firm required their workers to be paid on a per job lot basis. The engagement of these contingent workers varied week to week across multiple clients. As a result, the submission of time is linked to as many as twenty different pay rates reflecting the client’s activities completed. CXC is responsible for interpretation of time and calculation of weekly payments for a workforce that can range from 70 to 150 contingent workers.
- A consultancy firm had contingent workers engaged on multiple projects at any one time, and as a result of this they submit their time against the different project codes. In many of these cases their pay rate can vary and as a result their monthly timesheet require the interpretation of multiple rates, project codes, customer codes, purchase orders and cost centres.
- For an international bank, CXC managed a proportion of the workforce for more than four years. During the past 12 months CXC supported the rapid transition (within one week) from a PageUp timesheet to CXC’s payroll system without impacting time capture or the ongoing invoice process.
In each case our systems and process enable the set up and payment of workers based on the time or outcomes completed.
Which engagement structures can you pay workers under?
CXC manages all engagement structures in Australia, including:
- PAYG: An individual entering into a contract as a tax employee of CXC.
- Sole Trader: An individual that has a Sole Trader ABN and is the simplest form of being ‘self employed’.
- Trust/Pty Ltd: An individual that is set up as a company, or is a director of their registered trust.
- Statement of Work: Is engaged through a company and is not an individual. Is paid for a result achieved based on the quote they provide.
CXC partners with a global information technology company that provides a portfolio of IT services, software, and technology solutions. Previously, they had difficulty with manual timesheet systems and a lack of oversight. Their in-house contractors logged hours within the system that only they could view, causing missed payments. Their field contractors had manual timesheets, different to each of their clients, causing inconsistencies.
CXC was able to fix multiple process issues since program implementation. Through our extensive due diligence process, CXC was able to determine that various contractors were being paid under the minimum wage. This led to a further review of the rate processes, where we discovered this was the case for several contractors.
Through comprehensive collaboration, CXC resolved timesheeting issues to deliver a service where contractors are paid efficiently and accurately. CXC have met 100% of all SLA targets, including invoice and payment timeframes and accuracy. We are continuing to work with the client to implement automatic systems that simplify the whole process.
“In 2010, I started using the services of CXC to take care of my payments and since then I have not experienced one single payment error. The payments are made into the bank on time usually within the same week as the payment falls due. When I compare this with previous companies the difference is black and white. CXC operate like clockwork. A very professional company with a pleasant and helpful staff. With CXC, I have found that they take the worry out of the payments process.”
Alex Loughran, Contractor