"ICon has relieved us of the enormous burden of managing the day-to-day activities of our contingent workforce. Their staff really gets what we do and what we need."
- Technology Procurement VP
Industry
Software: Finance and Tax Management
Company Profile
$1.8 Billion in sales; 7000 employees worldwide; publicly traded
Background
In 2003, the client was in a period of rapid expansion through the acquisition of other companies. They were responsible for new contingent contractors while simultaneously being excessively charged for contingent labor payroll services through their agency of record. Costs were out of control with no accountability for process performance by agency.
Challenge
The client was obligated to carry independent contractor relationships from several of the newly-acquired companies. Although not under audit, the client recognized that their own procedures and control points regarding independent contractor engagements were loose and not always compliant. They desired a comprehensive, easy to implement compliance solution and timely payroll services that would reduce costs and allow for financial contributions towards employee benefits. The client also desired superior analytics for the non-employee workforce and a partner with accountability.
ICon Outcomes
ICon provided web-based contingent workforce management of independent contractors and payroll solutions, including premium benefits and 401(k) plans and administration. ICon helped establish the client's contingent workforce practices by providing customized billing, consolidated reporting, IC compliance, payroll and benefits, audit support, government-mandated reporting, and background checks for all contingent engagements across the company.
After thorough investigation of the client's previous service provider, ICon identified several key accounting discrepancies and determined that the client had been overcharged for services. Correction of these errors led to a cost savings of over $1 million.
ICon Solution
ICon provided the client with a dedicated website, and support services to facilitate its on-demand, nationwide solution, including:
Independent Contractor Compliance
Payroll and Benefits
Audit Support
Independent Contractor Consolidated Billing
Background Checks
ICon helped establish the client's contingent workforce practices nationwide by providing customized billing, divisional and consolidated company-wide reporting, independent contractor compliance, payroll and benefits, audit support, government-mandated reporting, and background checks for all contingent engagements across the company.
Results
ICon monitors complex internal business rules for adherence, including a 12-month assignment policy for contingent labor.
ICon reports how client managers are employing contractual labor, the departments associated with each contractor, and the tenure of each contract worker.
ICon boosts utilization of independent contractors through more-timely cycling of workers into the company.
ICon monitors independent and payroll contractor headcount online, with up-to-date, real-time information.
ICon is the single point of contact for all independent contractors and payroll workers nationwide, for single billing and single processing.
ICon provides trend analysis and workforce composition analysis.
