Continual changes affecting the economy compel companies to adapt their practices to specific standards; hence, the purpose of compliance.
Compliance is a key aspect in the operation of a company as it relates to compliance with regulations or norms linked to the operation of a business. Companies are subject to an increasingly demanding legislative environment that forces them to continually update their operation in many cases in a manner that is beyond the scope of certain organisations.
The implementation of legislative changes in the labour, financial and tax-related spheres is the direct responsibility of managers or employees.
Indeed, at AddVANTE we can provide a suitable regulatory compliance system that will enable you to suitably meet said responsibilities and substantially reduce potential associated risks.
Key issues we address
- Assistance with the day-to-day running of management and compliance with labour, tax, accounting and treasury obligations.
- Keeping the accounts and preparing and submitting the books required by commercial and tax legislation.
- Regular individual or consolidated management reports.
- Assistance with audits.
- Preparation of financial reports for the management.
- Review, monitoring and/or completion of tax statements.
- Outsourcing of financial/administrative processes: invoicing, cash flow statements, banking reconciliation, preparation of internal reports and transfer orders, etc.
- Preparation of economic reports, cost analyses and company documents needed to submit an application for funding to banking institutions.
- Labour management: monthly preparation of employee pay slips, monthly social security contribution forms (TC1 and TC2) and certificates of withholdings on employee salaries.
- Registry of employment contracts, employee social security registration and numbers.
In order to lay the foundations for effective management it is necessary to develop and maintain a series of robust administrative processes that facilitate and monitor compliance with current regulations.
HR area outsourcing
Pharmaceutical multinational that recently opened a new representative office.
This new office recently set up in our country, with staff and business yet to be developed, hired the services of the AddVANTE labour management area in order to embark on a process of outsourcing. From the outset the technological means needed to generate HR infrastructure were provided and the company was informed of the advantages and benefits of reaching sustained growth, with particular attention placed on the advantages afforded by legislation and the market.
Our work entailed implementing the full outsourcing of the HR area management to enable the client to focus exclusively on developing its business without needing to be concerned about any labour issue that would hinder its daily operations.
Keys to success
Thanks to continuous consultancy from the outset, the adaptability of our technology to our client's needs and the trust placed in our company, the initial representative office successfully managed to develop into a Spanish subsidiary of the pharmaceutical multinational, opening up new lines of business with a stable staff team and consolidated labour management without the need to invest any time or additional costs to do so.
Audit, company merger and employee subrogation
Companies in the environmental sector resort to a labour audit
to help them make the decision to engage in a future merger.
Three companies devoted to environmental matters sought our assistance in order to conduct a labour audit prior to engaging in a future merger decision.
The labour management area of AddVANTE conducted an in-depth analysis of the situation of the three companies detecting several points which either contained irregularities or could have been carried out differently to allow the company to obtain greater savings in costs and avoid potential future contingencies.
The final labour audit report reflected the detection of contingencies and possible structural and economic improvements allowing the client to obtain an overall perspective of the situation, acquire the security needed to identify and minimise labour risks associated with the operation, and lay out a reliable analytical map to move the merger forward.
Keys to success
The final result was the performance of the merger of the three companies converging to form a new firm which is currently a leader in the environmental sector.
Due to the excellent result of our work, the client decided to hire employee subrogation services and the new management body also hired the recurrent consultancy and labour management services of AddVANTE. The company currently has staff of more than one hundred employees and presence in most Spanish provinces.
José Mª López
Partner of the Financial Fiscal Department
Associate of the Labour Management Department