International Financial Solutions
International Financial Solutions
End to end
International
Financial
Program
Solutions
For peace
Of mind
InterLink provides a seamless workflow from the cost estimate to the balance sheet, obtaining a Certificates of Coverage through to the payroll instructions and reconciliation of global compensation.
GlobalLink ® is a cloud-based software that securely centralizes data via an SSL socket-secure platform. GlobalLink ® has extensive processes in place to ensure data security and data privacy legislation compliance.
Consistency, accuracy and compliance: It is what everyone needs. Consolidated invoicing and payroll data batch capabilities provide efficiencies saving valuable time.
Expense Management
Expense management is central to the successful International Mobility program This includes having the necessary expertise to review, audit, and process multiple transferee reimbursements, policy benefit payments, and direct bill supplier payments. Transferees submit expenses for reimbursement using our intuitive GlobalLink® platform or via the Mobile App. GlobalLink® is a centralized data repository so that all information is housed in one secure cloud-based platform. Employing a consolidated invoicing strategy to further relieve client workload. We help clients stay focused on what is important.
AUDIT
Audit employee expenses to ensure compliance with the policy. Audit supplier invoices to ensure adherence to authorized benefits, contract terms, and appropriate services & fees.
PROCESS
Process payments via secure banking preferences. Weekly disbursement to the transferee, no waiting for client funding required. Payment in multiple currencies available.
REPORT
Capture and manage expense for timely and accurate reporting. Partner with payroll(s) and tax partners for reporting. Regular reviews for cost analysis, benching marking, and budging trends.
Funding
InterLink has multiple funding models available and we are equipped to fund cross-border relocation and assignment expenses. It is important for time-sensitive payments to require expenses such as van line, tax services, and employee/vendor reimbursements. We combine the speed of automation with our expertise to offer reliable and efficient payment processing services.
Multiple Currency Capability
GlobalLink® software allows for payment and invoicing in multiple currencies.
Cost Estimating Tools
InterLink has the tools to provide a cost estimate for each relocation or assignment under consideration. Projection and understanding of the financial impact are important steps for an international assignment or move. Making mobility easy – is what we do. By way of efficient and intuitive technology, and our expertise, Companies have accurate data for establishing budgets.
International Cost Estimating Tools
Global Assignment and Cross-border Relocation
- Detailed cost estimating tool based on policy and robust tax engine
- Multi-currency data entry and output
- Tax Equalization and gross-up calculation logic for 90+ countries
Lump Sum Calculators for US and Canada
- Empowers employees to manage the move
- Easy to use and relieves the burden of processing reimbursements
- Combines millions of current statistical records and is policy-driven
Cost of Living Allowance (COLA)
A Cost-of Living Allowance (COLA) is a compensation tool that is used to address variances in local compensation plans and to offset the higher cost of living in a new work location.
As it relates to an international assignment, a COLA is a standard benefit for many international assignment policies. This allowance is an extra amount to help offset the cost of living and currency fluctuations while on assignment.
Working with data service providers that are industry leaders, InterLink aids in customizing the indexes to reflect Client policies. InterLink’s attention to detail approach including embracing our own data, results in avoiding double payments.
Balance Sheet
InterLink prepares the balance sheet reflecting policy parameters and detail as contained in letter of assignment and works in coordination with global payrolls for payroll instructions, on-going maintenance including hypothetical tax and material updates. The payroll reconciliation process is to ensure accurate enactment of payroll instructions and capture of outlying payroll items such as retirement contributions, employer contributions, meal plans, etc.
A Balance Sheet is a compensation approach designed to equalize the purchasing power of employees who are living abroad and in the home country. In addition, it is used to provide payroll instructions for payment of policy benefits such as a cost of living allowance, which are used to offset differences in costs of goods and services and currency fluctuations between assignment locations.
Global Compensation Accumulation Management
InterLink offers a variety of international compensation services to support your business needs throughout the assignment life cycle. We manage the end-to-end process from the assignment planning stages to deployment of global talent through the repatriation period. Our system tracks the status and progress of country-specific compensation accumulation via GlobalLink ® client portal for payroll reporting, tax management and compliance.
Risk and compliance management while having the ability to access your total spend data is essential.
Shadow Payroll
Essential features of GlobalLink ® include a highly specialized system and has the security features to deal with sensitive and highly regulated personal data yet has the capability of facilitating compliant information flows between home and host countries. InterLink’s financial team reports on compensation that has been paid from another country. When an assignee is working in a foreign country, their wages may need to be reported in both the home and host countries via a shadow payroll. It is important to note that just because compensation is not paid from one location does not mean that the income is not taxable in that country.
Shadow payroll can be set up in the home country if the assignee’s pay is being delivered by the host location, which is required in some countries. Different countries have different payroll compliance laws authorizing specific wage reporting requirements to ensure taxes are being paid in an appropriate manner in that particular jurisdiction.
Certificate of Coverage
Social Security obligations make up a substantial portion of an assignees pay when sent on an international assignment. It’s common for this aspect to be overlooked and doing so can result in issues that affect both Company and assignee. InterLink’s comprehensive global mobility support includes the Certificate of Coverage (COC) process.
Determining which countries social security plans will need to have contributions is an important question to answer. Depending on the home and host countries, contributions may be required in the home, host, or both. In addition to the contribution question, we advise and work with our
Clients to develop a policy should the assignee stand to lose any benefit entitlements because of the assignment. Bilateral totalization agreements (social security treaties between two countries) exist which address contributions and benefit entitlements.
Assignees who are exempt from US or foreign Social Security Coverage under a treaty must document their exemption by obtaining a COC from the country that will continue to cover them.
InterLink manages the following:
- Completion of Certificate of Coverage applications
- Full tracking of status and expiration dates for all global applications
- File for extensions as needed
- Provide reporting to Client and tax service provider
General Data Protection Regulation (GDPR)
InterLink’s robust software allows for the transfer of client and assignees/transferees data in a manner that is both efficient and secure. InterLink deems our GlobalLink system and Client-Facing Global Cost Estimation tools to be in scope for GDPR.
The General Data Protection Regulation (GDPR) is a regulation enacted by the European Union for the protection of individual data subjects who are citizens or residents of the EU. The regulation which replaces the Data Protection Directorate of 1995 was enacted in 2016 and went into full effect on May 25th, 2018.
RESOURCES
From informative white papers, current events, and trending blog discussions—our resources provide you with relocation and global mobility information at your fingertips.
Events
The InterLink team are proud members of many industry associations, attending events regularly. This involvement allows us to stay current with industry trends, innovations, and legislation.
Topic Papers
The InterLink team, leading corporate relocation and global mobility professionals, and industry partners discuss key topics that are impacting the relocation and global mobility space today.
Blog
Dive into the discussion of trending topics, events, and legalities that are affecting the relocation and global mobility industries.
TESTIMONAILS
InterLink is truly invested in our success. The outcome has been an excellent alignment between the company’s needs and those relocating. We are happy to be part of the InterLink ‘family’. More importantly, so our employee
I like everyone I work with at InterLink – personally and professionally. They are good people with good intentions who show their appreciation for our business, every week, and every day. We help each other.
My first meeting with InterLink convinced me there was something better, and we made the switch to InterLink. InterLink proactively considers our needs to provide solutions and maximize results for us, and most importantly, our employees.
Our company was faced with changing relocation vendors due to the poor customer service level. When reviewing Interlink’s proposal and touring their site, I was impressed. However, I still had concerns about their size as it relates to managing national and global projects. Erroneously, I thought a relocation company had to be a well-known, to handle national and expatriation relocations. After two years into our contract, Interlink’s performance has exceeded my expectation. • Their service is cost competitive • Their customer service levels are highly responsive • They provide recommendations and guidance based on market trends • They customized relocation plans to meet our business strategies • Most importantly, they handle the entire relocation process in a seamless fashion.
One of the best aspects about InterLink is that they accommodate our specific needs. Once they understand what’s involved, InterLink develops the best solutions for the company AND the employees, minimizing stress for everyone.
INDUSTRY PARTNERS
