Global Shares ‘EquitySync’ is a data transformation tool which brings major efficiencies to equity plan management by fully synchronizing employee payroll and HR data.
- A robust solution for managing data synchronization between client systems and their equity administration system
- Multiple file formats (xml, csv, excel) accepted, allowing data transformation to convert successfully
- Regular synchronization to ensure employee tax and demographic data is continually updated
- Prevents terminating employees exercising their expired grants
- Applies correct tax rates for participants in different tax thresholds and locations
- Ensures expenses accrued on a participant’s award are assigned to their most current locations or departments of Global Shares data transformation software:
Read more about these and other efficiencies that can be achieved when your payroll and HR data is fully synchronized with your equity plan management system.
Data Transformation Tool – Introduction
Global Shares EquitySync allows you to synchronize the relevant tax and employee demographic information required by your equity plan management system. Each time your HR and payroll system generates updated versions of this information the EquitySync data transformation tool is setup to manage the data, make any adjustments automatically (e.g. format, file type etc.) and send it through directly to the equity plan management system.
This can be set up to happen on a pre-determined schedule or can simply be run on an ad hoc basis. Either way, incorporating the EquitySync tool into your equity plans project will remove the need to fill out labor intensive templates manually and posting files to various project management sites.
EquitySync uses a highly decoupled and flexible design to provide a robust solution for managing data synchronization between client systems and their equity administration system.
EquitySync can read and produce in multiple formats including XML, CSV, Tab delimited and Excel. It provides many data transformation actions to convert or swap data values needed to synchronize successfully. If required the EquitySync system can be set up to allow direct connections into client systems.
EquitySync – Overview
Transforming Tax Information
Regular updates between your payroll system and your equity plan management system ensure that individual taxable events are properly recorded and applied in a timely manner
The Global Shares EquitySync data transformation tool allows you to import year-to-date tax information from any payroll system in multiple formats into your equity plan management system. Separately you can use the same tool to manipulate the tax reporting from your equity plan management system so that it takes the tax and taxable compensation figures from your participants equity transactions and feeds them back into your payroll system in the required manner, ensuring your payroll system is kept up to date.
Transforming Employee Demographic Data
Regular updates between your HR system and your equity plan management system ensure that participants have accurate demographic, termination and company information associated with them. This ensures greater accuracy for reporting purposes.
The Global Shares EquitySync tool provides the ability to import your participant information from your HR system into your equity plan management system. This ensures an equity plan management system which matches up to your HR system and therefore can be relied upon when combining this information with your equity reporting.
Global Shares’ data transformation deployment process
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“At the end of 2014, we began the switch in share plan administration platforms. With an aggressive timetable to complete the migration to our new provider prior to a major vesting event on February 1, 2015, we took no chances and engaged Global Shares who we have had extremely positive results with in the past for not only day to day administration but also larger time-sensitive projects including two corporate actions that impacted our equity awards.
Our share plan manager at Global Shares was expert not only in our historical data but also with the existing recordkeeping system and could efficiently and accurately complete the data exchange needed to migrate to the new recordkeeping platform. Global Shares handled the extraction of required data, mapped the data fields from the prior system to the new system, and quickly learned and completed the file layout and specific file transfer protocol required by our new provider. Additionally, Global Shares provided a thorough reconciliation of the balances pre and post migration. Global Shares’ deep expertise in equity administration served the data migration project well in all aspcts of the migration. We had a very high comfort level throughout the project with Global Shares. The data implementation was completed successfully without any delays.
Global Shares proved themselves once again to be a highly reliable and expert provider of equity administration services.”
– Joan Henkel
Director, Executive Compensation and Equity Administration
Once EquitySync has been implemented and deployed with the client, Global Shares will provide full support for any issues or queries arising. Periodic updates of the software will also take place and the client will be informed of any steps they need to undertake to upgrade the software.
Do you have a question for the Global Shares team?
Please don’t hesitate to contact us!
Global Shares is a market-leading independent provider of share plan administration services and highly innovative web based SaaS for companies’ in-house equity administration and financial reporting. With offices in New York, California, London and Ireland, we work with high profile public and private companies globally with participants in 100+ countries. Our software products and services are created 100% in-house by our IT team and are renowned for their high quality, flexibility and reliability.