Evelyn Partners, a wealth management and professional services group in the United Kingdom, struggled to integrate financial processes after a merger. Streamlining the complex payroll systems of individual subsidiaries and gaining real-time access to vital financial information were significant challenges. With a vast and complex structure, managing nearly £55 billion in assets and employing over 3,000 people, the need for a robust financial management system that could manage the two most important elements of the business—people and cash—was paramount. 

The Challenge: Streamlining the complex payroll of individual subsidiaries post-merger

In September 2020, UK-based Tilney, and Smith and Williamson merged to create Tilney Smith & Williamson, now known as Evelyn Partners. While the combined entity boasted a powerhouse of talent and a significantly expanded investment portfolio, it also presented its own set of integration hurdles: managing four primary subsidiaries, uniting numerous systems and processes, and addressing the financial complexities arising from the sheer scale of the merged entities. 

“As you can imagine, when you bring any two companies of this size together there are a lot of systems, processes, data, and behavior to consider. Some good, some not so good, from both sides.“ – Andrew Baddeley, CFO at Evelyn Partners

Evelyn Partners needed a financial management system that would allow each subsidiary to retain operational autonomy as a separate business unit, yet seamlessly integrate into the broader group structure. They chose NetSuite OneWorld for its ability to automate manual processes, provide real-time financial data, and simplify operations with a central database, streamlined workflows, and an advanced reporting engine.

“NetSuite’s ability to consolidate the running and reporting of multiple companies in one system, whilst also providing the flexibility for each subsidiary to function as its own business was at the heart of our decision to implement it.” – Andrew Baddeley, CFO at Evelyn Partners 

After implementing NetSuite OneWorld to streamline the group's financial processes in one unified system, Evelyn Partners found itself with a much larger and more complex challenge: payroll consolidation. Pre-merger, Tilney had outsourced the payroll management to a large bureau, whereas Smith and Williamson handled theirs in-house.  

Post-merger, the group needed to consolidate three PAYE schemes, manage tax and national insurance (NI) for partners outside the Real Time Information (RTI) program, and retain payroll processing and control internally, as they now had the people and expertise to manage it themselves. The three biggest challenges Andrew’s finance team was facing were:

• Limited control: A mix of ADP and outsourced payroll services lacked flexibility and control for a 3,000+ employee organization.

• Fragmented data: Managing payroll across jurisdictions or at a group level proved difficult. They lacked granular insight into people and cash, their two biggest elements.

• Patchwork of systems: Disparate systems from both pre-merger entities created redundancy and hampered automation—particularly for payroll, their biggest cost center.

The Solution: A centralized, automated payroll system in NetSuite

Evelyn Partners sought to implement a NetSuite payroll solution that could easily handle their complex payroll structure, optimize execution, and provide the needed visibility. The tool had to be robust enough to handle the detailed payroll and tax responsibilities for employees and partners, yet simple enough to operate without expanding their payroll department.

ZonePayroll, previously Infinet Cloud, stood out from other alternatives for its seamless integration with NetSuite's ecosystem, offering a single, cohesive platform engineered to address complex payroll demands while maintaining compliance with local tax regulations. 

“Our people are our business, and easily our biggest cost. NetSuite is so strong from the consolidation and automation perspectives and the fact that [ZonePayroll, previously Infinet Cloud] sits right within the system means that we can achieve the same visibility and automation of our payroll as any other part of the business.” – Andrew Baddeley, CFO at Evelyn Partners

The Result: Full consolidation of complex NetSuite payroll operations with ZonePayroll

ZonePayroll, a NetSuite SuiteApp, empowered Evelyn Partners’ finance team to streamline payroll operations for their diverse workforce across multiple entities. Spanning four subsidiaries and three PAYE schemes, plus handling partner taxes and NI outside RTI, all payroll complexities were handled with ease within NetSuite’s unified system.

“Efficiency in processing and live visibility of critical information should be a priority for any business, but when you’re dealing with the number of employees we are, combined with the ‘moving parts’ of the merger, there was a lot of potential for error. [ZonePayroll] literally completed the puzzle for us and it helped us eradicate a lot of this risk.” – Andrew Baddeley, CFO at Evelyn Partners 

By utilizing ZonePayroll for NetSuite payroll processing, Evelyn Partners achieved other significant improvements, such as:

One unified payroll system with no errors: The group eliminated the need to rely on disparate payroll systems like ADP and outsourced bureaus. ZonePayroll brought everything under one roof, seamlessly integrating with their existing financial software. This gave Andrew and his team complete control over payroll costs and ensured compliance with standards, eliminating errors associated with juggling multiple systems.

Tailored payroll for each jurisdiction: ZonePayroll's flexibility empowers Andrew's team to configure and run payroll for each jurisdiction, ensuring local standards and region-specific needs are met. This allows them to manage employee defaults and regional variations, guaranteeing everyone gets paid accurately. Plus, ZonePayroll’s scalability means future acquisitions will be easily integrated into the payroll system, simplifying payroll management as the company grows.

Holistic reporting inside NetSuite: Andrew and his team no longer have to piece together reports from multiple sources. ZonePayroll provides a clear, consolidated view of payroll costs across all subsidiaries and jurisdictions. This "to-the-penny analysis" empowers informed financial decisions since reports can be run for a single subsidiary or the entire company, giving Andrew a complete financial picture.

‍Operational freedom: Evelyn Partners' finance team is no longer drowning in paperwork just to manage payroll. With automated workflows, manual errors are significantly reduced, and there’s no need to hire an additional headcount just to manage payroll. This frees up the team from the heavy lifting, allowing them to regain valuable hours to focus on more strategic initiatives.

“[What ZonePayroll did for us] is not something I have ever seen before, nor something we could have achieved with outsourcing or disparate systems. I would enthusiastically recommend the [Zone & Co] team, and software, to any and all NetSuite users.” – Andrew Baddeley, CFO at Evelyn Partners

The Conclusion: Seamless NetSuite payroll integration for professional services

The strategic decision to implement NetSuite OneWorld and ZonePayroll revolutionized Evelyn Partners' operational framework, turning potential post-merger payroll chaos into a model of efficiency and clarity.

Zone & Co’s payroll solution not only seamlessly integrated with their existing NetSuite financial system but also streamlined payroll processes, previously scattered across various systems. With ZonePayroll, Evelyn Partners centralized control, reduced paperwork, gained valuable insights, and eliminated the need for extra payroll staff, all while ensuring compliance and accuracy. 

“Working with [Zone & Co] gives us the confidence to concentrate on the core elements that keep our business moving as we know that they are fully engaged in our success. They are fantastic to work with and a highly regarded, trusted, provider.” – Andrew Baddeley, CFO at Evelyn Partners 

Join thousands of satisfied customers who rely on Zone & Co for their payroll needs. Book your demo today and see why businesses are switching to ZonePayroll.

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