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How EG Funds established a growing local branch by leveraging Sprout’s digitized solutions
EG Funds
EG Funds is an Australian real estate fund management company that has grown rapidly since 2000 from rezoning to a variety of funds, mandates, and joint ventures.In 2014, EG Funds established a branch in the Philippines that has doubled its headcount since using Sprout. This growth paved the way to adopt digitized solutions for streamlined HR and Payroll processes in the Philippines.
The Challenge
Struggles with Compliance and 201 File Management
EG Funds struggled with manual processes for BIR compliance, leave approvals via email, and handling 201 files. Keeping up with government requirements was challenging, especially in the financial industry. Employees manually submitted leave requests, and managers tracked approvals, consuming valuable time. As the company grew, manually managing employee information and performance in 201 files became increasingly tedious and error-prone. EG Funds needed an automated solution to streamline these tasks.
Sprout Solutions Used
The Outcome
Ensured Compliance and Reduced Onboarding Costs
Sprout helped digitize their operations, ensuring compliance with government regulations and centralizing HR requests and documents. This transition saved EG Funds approximately Php 140,630 in onboarding costs while growing their headcount by 102.85%. Sprout's solutions reduced 201 file discrepancies by 90%, cut payroll report generation time by 38 hours monthly, and reduced HR approval times by 90%. Sprout’s HR and Payroll software ensured compliance with Philippine business standards, preparing EG Funds for future growth.
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