Spend Less Time Managing Cross-Border Activities

The Challenge

A large multinational bank had thousands of employees moving across borders for consultations with clients, to support normal business operations, and to manage ongoing projects. However, this movement of employees creates visa requirements that vary from state to state and regulatory requirements for some activities, which manifest in limits to how long ban staff can be in a country and undertake certain activities.

This creates a complex web of requirements that must be observed and managed for all cross-border activities. Action is taken to prevent monetary fines and sanctions upon the bank’s ability to conduct business.

The Solution

PredictX implemented its Time in Country module, which integrates booking data from a variety of sources with corporate information on visa, tax and licensing rules. This enables users in compliance to instantly see what trips have taken place to countries operating under which tax and licensing regime, how many days of a territory’s ‘allowance’ have been used (including for rolling allowances), how many remain and where is at risk of using more than the issued allowance.

The Impact

The solution's impact was:

• A 68% reduction in fines.
• Better and more tactile control of the use of allowances for activity within a territory. 
• The cross-border compliance team spent 70% less time policing cross-border activity, allowing them to conduct new strategic initiatives to ensure compliance.

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